Car finance options explained
Ben Custard
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Finance
Car finance if you have bad credit
We have partnered with Finset to help car buyers with poorer credit to get car finance options.
- Get pre-approved for finance – receive your personalised car finance decision and approval in principle in minutes.
- Choose your perfect car – we have more than 4,000 nearly new and used cars on sale. You’ll find a huge selection of brands and models with the lowest prices guaranteed.
- Drive away in your new car – this is the exciting part! Our team will have your car ready for you to drive away from any of our nationwide stores.
Car finance for bad credit
If you have a bad credit score, you might find that the only lenders willing to lend to you are the ones specialising in bad-credit applications.
These lenders may be able to offer a finance rate that’s actually affordable, although you might have to provide a guarantor for the credit, or put in a larger deposit than other providers are asking for.
Discover more about applying for finance if you have bad credit.
What is bad credit car finance?
Some of our lending partners will still offer you a car finance agreement, even if you have a bad credit rating.
You’ll probably find that you’re offered a higher-than-average interest rate, or that your monthly payments will only be affordable if you put in a larger initial deposit.
For more info, read our full guide to car finance with bad credit.
Pros and Cons to bad credit finance
Here are some pros and cons to consider before applying for finance with bad creditPros of bad-credit car finance
Access to finance when traditional lenders won't approve you Get the car you need for work and daily life, even when banks and mainstream lenders have turned you down.
Specialised expertise in bad credit solutions Work with lenders who understand your situation and offer tailored finance options designed specifically for people rebuilding their credit.
Opportunity to rebuild your credit score Use your car loan as a stepping stone to improve your credit rating through consistent, timely payments that get reported to credit reference agencies.
Cons of bad-credit car finance
You'll pay significantly more in interest charges Expect much higher interest rates that can add thousands to your total loan cost compared to borrowers with good credit.
Limited choice means less negotiating power Fewer lenders willing to work with you means you can't shop around for better deals or terms.
Larger upfront costs and additional requirements You'll likely need a bigger deposit and may be required to find someone to act as guarantor for your loan, adding complexity and financial burden.
Our finance partners
Motorpoint works with a selection of trusted partners to help find the perfect car financing plan for you. For customers with bad credit, we've partnered with Finset to open up more financing options. Finset is a finance broker that works with several specialised lenders to find you a competitive finance deal, even with a poor credit score.
Finset*
Finset is a broker that offers car finance from a panel of lenders. They can support with finance options for people with bad credit.
Black Horse
Black Horse is part of the Lloyds Banking Group and is a leading car-finance provider. The company has won several recent awards for its customer experience.
MotoNovo*
MotoNovo are part of the Aldermore Group, and have specialised in car finance for over 40 years.
Startline*
Startline is a specialist car finance lender, who offer flexible finance options to customers.
*available through our broker. Speak to a member of our team for more info
Why choose Motorpoint for car finance?
- Motorpoint is a SAF approved retailer, so our sales team can provide expert finance advice for customers.
- Competitive rates with finance available from 11.9% APR.
- Easy application process, either online, over the phone or in store.
- Flexible terms, allowing you to adjust your monthly payments and deposit as needed.
- Fixed payments available over terms up to five years.
