No Credit Check Car Finance

Any responsible lender will include checks in their process to assess your creditworthiness. In other words, they need a little extra information to make an informed decision about whether you will be able to keep on top of your loan.

If you have been rejected by traditional lenders, either due to a limited or poor credit history, credit checks can be especially daunting. However, by providing an overview of your finances, including any outstanding debts, the lender will be able to offer loan terms and interest rates that are manageable.

Without determining your eligibility, we can’t help you find a deal that is best suited to your situation. It’s that simple!

At We Finance Any Car, we offer a selection of main and specialist finance options, all of which can be applied for using a soft credit check.

HP car finance is the most common type of car finance, in which you pay a fixed amount each month. This is ideal for those who have a stable income with a good credit score, or if you want to own the car outright once the agreement has ended.

Alternatively, PCP car finance offers a more flexible solution and gives you the option to upgrade your car at the end of the agreement.

We even offer solutions for applicants with a poor credit rating. The best deal for you will vary depending on your specific situation – a dedicated Account Manager will be able to advise you on a finance plan that is achievable.

If you are in need of a car but have a tight budget, our used car finance may be the option for you. Whether you’re in love with a particular model but don’t quite have the funds to purchase it brand new or are just looking for something that can get you from A to B, a used car can be an affordable way to get on the road. 

Even better, the vast majority of finance agreements won’t require a deposit, so you can spread the cost over a set period of time. 

Haven’t been able to find a vehicle that ticks all your boxes? With our car feed, we have an exciting selection of makes and models to explore.

A soft search happens during the early part of the application process and will give lenders an idea of your current income, employment status, and existing credit. Although it won’t be as thorough as a hard credit check, it allows lenders to make an initial assessment of you as an applicant and whether you are likely to be approved for car finance. 

A hard credit check enables lenders to access agency records of your credit report and is usually completed to provide a more in-depth analysis of your profile. This can include your credit history and accounts, as well as any late or missed payments. Many people are shocked to discover that, with a hard check, applying for multiple loans in a short space of time can leave a footprint and give the impression of being in a desperate financial situation. This can actually limit your ability to be approved for finance in the future. 

Our ‘soft search first’ approach is changing the game. 

With this adjustment to the application process, we are removing the barriers of car finance and making car ownership an achievable dream for all.

Your credit report gives a detailed picture of your credit history and finances. It shows lenders how you pay your bills and whether you are able to meet deadlines. 

The following information will be reviewed:

• Personal details, including your name, date of birth, address, past and current employers
• Credit accounts, with a view of any credit cards, mortgages, and defaults (if you’ve failed to repay any debt)
• Any credit inquiries (essentially any applications for credit, such as purchasing a house or starting up a business)
• Any public records, such as bankruptcies or judgements
• Credit score (a low score can be an indication of financial difficulty or a shorter credit history)
• The percentage of available credit you are using (a high credit utilisation can negatively impact your score)

If you have a good credit history, and a proven record of making timely payments, it shows you are in a stable financial situation and are more likely to be accepted for car finance. On the other hand, if you have a poor credit history, perhaps with some missed payments or outstanding debt, you may be viewed as a higher-risk applicant.  

We firmly believe that everyone deserves the chance to purchase a car and offer end-to-end support for car finance applications, regardless of personal circumstances. 

Yes! Although you may have to overcome a few more hurdles, it is still possible to get car finance with a bad credit rating. At We Finance Any Car, our panel of lenders work with a wide range of applicants, from those who are financially stable to those struggling with poor credit. 

We are an open-minded bunch and there really is a solution for every scenario.

There are many factors that can affect your credit rating, including late or missed payments. In more extreme cases, you may be taking part in an Individual Voluntary Agreement (IVA) to help manage your debts or you could have a County Court Judgement (CCJ) on your credit file.

That’s why we provide a flexible car finance service that is centred around the needs of our customers, finding you the best deal for your budget.

We can help!

Your credit report enables lenders to determine whether you are committed to repaying your debts. That’s all well and good if you’ve had the chance to build up a solid credit history, but what happens if you’re a young driver or first-time buyer?

Having a limited or no credit history can make it difficult to get approved for car finance, or you might get rejected altogether. Unfortunately, this is a story we see all too often. The good news? There are still options available!

Using a guarantor with a strong credit rating can be one way to increase your chances of approval. This is someone, usually a friend or family member, who agrees to take responsibility for your car loan if you can longer make the monthly repayments. In the eyes of lenders, this can reduce any risk and improve your creditworthiness. 

Ready to kickstart your journey with We Finance Any Car? Apply now.