How Much Can I Borrow?

We understand that most people want to know how much they will be able to borrow when they apply for a loan. Carfinance4badcredit have a huge panel and the amount they will lend depends on a number of factors, including:

Income - Most lenders need an income above £1,000 to consider lending
Deposit amount (if applicable) - In most cases you won't need a deposit
Length of contract - Normally a minimum 24 months - but you can pay it off early
Employment History - A stable employment history is great but not essential
The value of the vehicle - Most will only look at loans over £4,000
Affordability - Lenders look at what they think you can afford based on your income

Lenders essentially look at your credit history, the price of the car and how affordable they think it is for you plus how the repayment period is structured. While some won't be approved; many, many applicants get car finance where they did not think they would and even more get a better APR deal than they thought possible.

Length of Contract: Increasing the lenght of the contract repayment period to say 60 months means that the monthly payment will reduce but it also means that you are paying interest for a longer period. Carfinance4badcredit are here to share the options with you and at the end of the day we offer informed choice so you can decide what is best for you.

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Why not use our straight forward finance calculator below to see what your monthly repayment might be. Remember that you always have an impartial and friendly account manager on hand to help with your options as well.

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