Bad Credit self-employed Car Finance

Bad Credit Motor Finance has a network of lenders who specialise in applications by customers who are self-employed. While we can never guarantee a loan outright (be aware of any company that does this) we are here to work with you. We could get the best deal possible with regards to you and your personal situation.

Rates from 10.9% APR. Representative APR 22.45%

Instant Online Decision

Our online form takes less than 60 seconds to apply & the decision is instant, we will contact you.

£0 Deposit options

If you are approved, we may have £0 Deposit Options available for you, depending on your circumstances.

Free History Checks

We will conduct a Free History & Value Checks on your behalf to ensure the car is fit for purpose.

Hire Purchase Car Finance

Self Employed Car Finance

It takes a lot of hard work and commitment in order to maintain your work. Taking holidays can also be an issue too.

Another key issue is motor finance. Some lenders may require three years of accounts, and if you haven’t been going that long then this could be a snag in some contracts

Our Lenders

We have great relationships with a wide network of lenders and dealers who specialise in bad credit car finance. Bad Credit Motor Finance has great relationships with many trusted companies. We want to make it very clear that there is no favouritism between any of our contacts. Our sole purpose is to compare these lenders to find the best Car finance deals for our customers.

Our Promise

We Promise to keep you updated on the best Bad Credit vehicle finance Finance Agreements available to you. Helping you help you every step of the way with your purchase.

We will try our best to get you the greatest rates, even if you have bad credit.

Disclaimer

The information on this page should not be treated as a replacement for expert financial advice. Please do not treat this as advice for your personal unique situation. This is preparation ahead of your application for bad credit car finance. You can get more information from a Credit Reference Agency if you want to find out more.

Data Protection

Here at Bad Credit Motor Finance, we are here to secure the best bad credit car finance deal possible. For your unique situation. Everybody is different, and all require a fine tuned service to suit their specific needs within car finance. This is especially with a bad credit rating.

We are independent brokers, therefore we are able to access our wide network of lenders in order to secure the best deals for you. Just click ‘Quick Apply’ and enter your details into our free calculator for us to compare the best quotes for your consideration. Your data will of course be completely protected.

Self Employed

There are many skill sets and types of expertise that favours a self employed profession as opposed to working 9-5. This might be due to the freelance nature of many trades that require you to work more flexible hours. Some people just enjoy being their own boss and building their own business from the foundations. Others prefer working for somebody else. Having your own freedom can allow you to schedule your work around your life, such as for childcare.

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What You Need To Know

I’m Self Employed And I’ve Got Bad Credit

It’s natural to be concerned about whether you can acquire a car finance deal. Especially if your circumstances could be better in the eyes of the lenders.

We do have a way to give lenders more confidence in you and your application. It is to put down a deposit at the beginning of your contract. This is a lump sum to set the contract in motion. The higher the deposit, the more this will work in your favour. It will also mean that you pay less within your monthly installments.

Another good option to go for if you wish to improve your credit score is a Hire Purchase (HP) deal. This will allow you to improve your credit rating as you make your monthly instalments. You will own the vehicle at the end of the deal. Always bear in mind that if you were to miss payments within your application, this will negatively affect your credit score. This  could result in repossession of your vehicle. Compare the best credit reports for you.

Self Employed Bad Credit Car Finance

This isn’t always the case, though, as certain specialised lenders would take bank statements going back three to two years, tax returns, or records of a self-employed business’s operations. They will probably also want to look at your net earnings after taxes to see if they can trust you. If you are self-employed, keep all of your invoices and other payment records close at hand so you can show and account for them when you apply for a car loan. Every customer in at Bright Motor Finance is totally responsible and bound by FCA rules. We make sure of this before every deal.

It’s critical to be informed of any supplemental expenses. The price you pay for each car varies depending on the type, engine, mileage, and other elements. The cost of repair and maintenance insurance increases with vehicle power. Any modifications to the car will also raise the rate because there is a greater danger of theft the more valuable the car is.

If you are applying for a business car, lenders may be wary as well since if it is being used more frequently than usual, such as if you are operating a taxi service, a higher mileage would reduce its resale value.

Compare Bad Credit Self Employed Motor Finance With Us

We’ve made you aware of potential pitfalls in your self employed motor finance application, and have put forward tips on how to avoid them. If this all sounds great, then start a quote through us today. You will have access to our software that will search the market far and wide to find the best vehicles and deals on offer to you and your personal situation. This will save you lots of time and effort, which as a self employed professional, is extremely valuable! One of our friendly members of staff will work with you every step of the way, and do everything that we can to see you driving away in your dream car as soon as possible.

Quick | Easy | Trustworthy

We Make Bad Credit Car Finance A Simple Process

01. Apply Online​

Apply now for an instant decision and one of our experts will be ready to help.​ We can try to get you Bad Credit Car Finance.

02. Find Your Vehicle​

Have you found your dream car? If not our passionate experts are here to help.​ We can try to find you a magnitude of bad credit car finance solutions.

03. Sign And Collect​

Once we have finished the paperwork, sit back and relax. We will do the rest!​ You’ll be on the way to enjoying your dream car.

Hassle Free

Our Bad Credit Finance Calculator

If you require a rough estimate of your entitlement and payments, you may wish to use our Finance Calculator, it is simple to use and takes less than a minute.

Representative Example: Borrow £6,000 with £1,000 deposit over 48 months with a representative APR of 22.45%, the monthly payment would be £153.29, with a total cost of credit of £2,357.76 and a total amount payable of £7,357.76. Bad Credit Motor Finance is a broker not a lender. This is an example only, all finance subject to status. Lender fees may apply.

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Frequently Asked Questions

Why Is A Motor Finance Application More Difficult To Get Approved If I’m Self Employed?

A new vehicle is probably the biggest life purchase next to a house. It’s a very expensive investment and not a lot of people can afford to pay for it outright. Car finance makes it possible to drive away in your car while agreeing to pay for it in monthly instalments over a pre-agreed period of time. 91% of the UK choose to purchase their vehicle through a finance contract as opposed to buying it outright.

In order to get your bad credit self employed car finance application approved, you have to undergo credit checks from your potential lender. Things that they will look at in order to deem you trustworthy enough is your spending history, credit score, and your employment. As someone who is self-employed, you do not earn money from a set contract, and so there could be periods of time where you don’t actually earn anything. This is seen as a risk by the lender for this reason. But here at Bright Motor Finance, we believe you  don’t deserve to be at fault just because of your choice of career. 

So What Next Steps Should I Take Ahead Of My Motor Finance Deal?

While it seems that you might be restricted by these certain rules mentioned above, the lenders have to stick to a strict code of conduct too. The Financial Conduct Authority makes sure that lenders are only loaning to customers who are deemed to be able to pay off all of their loans on time, and not to people who it appears may struggle to make these payments in the long run. This is ultimately to protect the customer. Because of this, lenders will require certain documents in order to approve the application. Documents such as contracts and payslips over a set period of time are more easily acquired by people in full time employment, and so this makes it easier to process an application.