Flexible Payments, Accessible Terms, and More Freedom – Discover Fair Credit Car Finance Today!
Is your fair credit score getting in the way of your car finance plans? Don’t panic: CarFinanceToday is here to secure you an exceptional car finance deal, whatever your credit history.
Fair credit car finance is designed for drivers with minimum credit score, to help them obtain their dream vehicle without the inflated costs and other hurdles that usually characterise traditional car loans.
With fair credit car finance, you can:
Other standard car loans that may need a good credit score. But fair credit finance considers a much wider review of your personal financial situation. Apart from your credit history, it’s your income, stability at work, and how affordable it is for you that matter most.
This opens car ownership doors for more people; namely, for those who are looking to rebuild their credit score. Although you won’t own the car outright after the end of this period, you’ll still have choices:
Before any car finance agreement offer, we and or lenders will conduct a soft credit check to establish your credit history—don’t worry, this won’t impact your credit score.
Your score will fall into one of five categories:
Buyers with a good credit score have the best options, with lenders offering better APR and terms.
But don’t worry! At CarFinanceToday, those with fair credit can still access excellent car finance. We’ll match you with lenders who are willing to offer loans despite your credit rating, usually on certain conditions like higher interest rates and stricter loan terms.
Our Fair Credit financing options are the ideal solution for those with a lower credit score to access reasonable car finance deals and get behind the wheel of their dream cars. But this type of loan won’t be for everyone.
Fair credit financing offers personalised terms for those with lower credit scores. This means that if you don’t currently have an optimal credit score, this financing option presents an opportunity to finance your next car regardless.
Even for buyers with fair credit, our lenders work hard to give plenty of great options when it comes to choosing a vehicle. Contrary to popular belief, a fair credit rating doesn’t have to mean you’re stuck with a limited choice of car!
By opting for a Fair Credit car finance model and meeting your monthly payments on time and in full, you’ll have the opportunity to significantly improve your credit score. This means that when you next go to finance a vehicle, you’ll be in a much stronger position to access better terms.
Fair Credit financing often comes with higher monthly instalments than regular financing. So if you want to keep monthly repayments down, or perhaps spread the cost of the car over a longer term—and have a good enough credit rating—consider choosing another car loan type such as Hire Purchase (HP) or Personal Contract Purchase (PCP). These will both give you better rates, but rely on good credit.
Even with lower credit, you may still be able to access better rates with a special Guarantor Loan. These loans involve the lender having their payments ‘guaranteed’ by a third party with better credit, such as a parent or friend. Guarantor financing is a popular option for those who want good APR despite bad credit.
While it might be possible to buy the car at the end of your loan term, that’s not guaranteed with a Fair Credit loan. If you want to know you’re going to walk away the owner of the car, then Hire Purchase could be a better option—assuming you have a higher credit score.
Want to improve your credit score? Budgeting is the way forward. Find out how much you’ll pay in monthly instalments and ensure you get a deal you can afford with our handy car finance calculator.
Head of Content and Conversion
Our application process is quick, easy, and won’t cost you a penny. Easily find out what car finance deals are available for buyers with fair credit by following a few simple steps:
After applying for our poor credit car finance, we’re working hard to attempt to accept you in principle through our panel of lenders. There is a soft credit check involved in this, but it will not harm your credit score.
18+ years old and at least three years of address history in the UK
We will carry out a soft credit check to attempt to find a lender for you. This will leave no mark on your credit score.
A good credit score can help, but lenders also consider income, level of debt, and job security amongst other things to ensure that your application gets a fair review.
Here at Car Finance Today, we specialise in finding you car finance that’s right for you – even if your credit is merely fair or you’re rebuilding your credit. We want to help you to find an appropriate finance option whatever your financial history may be.
We believe getting access to transportation is a must. Whether you use it to drive to and from work, take the kids to school, or just to get out and about, our team will strive to take away some of the financial obstacles so you can drive away in something that will work for you.
Our large panel of reputable lenders means that we can seek the best deal to suit your circumstances. When your credit isn’t perfect we can help you drive away in a car that works for you.
You will have an account manager from the initial application to the final agreement to guide you through. We are based upon the principle of transparency, and that means making the whole process as clear, simple, and non-stressful as possible
See what our customers ask the most when it comes to fair credit car finance:
If you go over the agreed limit, you might face a small charge per mile.
Yes, you can, although this may incur additional charges depending on the terms and conditions.
A decent credit score will improve your chances, but we can provide options for individuals with all types of financial backgrounds.
Provided this is in good condition, and within the allowed mileage limit, there will be no additional charges.
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