car finance Archives - My Car Credit

Understanding How Far Back Lenders Look into Your Credit History

Hoping to secure car finance with bad credit history? It’s good to know how far back lenders check your credit history when applying for car finance. Why? Because it’s not just about your current situation.

Lenders want to understand how you’ve handled finances in the past. This helps them decide whether you’re likely to repay on time. How deep they dig depends on a few things. For example, the type of loan and your individual circumstances.

Whether your credit history is showroom fresh, has a few dings or feels like it’s been through a minor collision, knowing how lenders assess it can help you plan ahead and boost your approval chances.

Why do lenders check your credit history?

Lenders use credit checks to assess financial responsibility. They’re looking for signs that you can manage debt and make payments without fuss.

What do lenders look for?

Lenders focus on key patterns, such as:

On-time payments: These suggest you’re reliable and can stick to a schedule.

Missed payments or defaults: These raise questions about your ability to manage money.

Major financial events: Things like CCJs, IVAs or bankruptcies can indicate higher risk.

An in-depth review of your credit history helps lenders gauge the level of risk involved in offering you a loan.

How long does it take for a credit check?

Checks can take a matter of seconds to several days, depending on the detail requested and lender policies.

Matching you to the right finance

Lenders don’t just assess risk for car finance with bad credit history. They use your credit history to determine the type of finance plan that suits you. A borrower with a strong record might qualify for lower interest rates, while someone with a few missed payments may receive a plan tailored to help them rebuild their credit.

How far back do lenders typically look?

How far back does credit history go? Most lenders review your credit history from the past 6-7 years. This standard window includes key information, such as payment history, defaults and major financial events.

How do financial events change over time?

CCJs: These stay on your file for six years but carry less weight as time passes, especially if marked as satisfied.

IVAs: Like CCJs, they remain for six years and show that steps were taken to address debt.

Bankruptcies: These linger for six years but are less concerning to lenders if followed by good financial behaviour.

Recent credit activity vs older history

Recent financial behaviour holds more weight. Lenders are likely to focus on your activity over the last 12-24 months. This means that making timely payments and managing debts responsibly can significantly improve your chances and even outweigh older missteps. Even small steps, like setting up direct debits or paying off a credit card balance, can make a big difference.

What factors affect the depth of a credit check?

Not all credit checks are the same. Here’s what can influence how much of your history a lender reviews:

Type of car finance

Different finance options, like PCP, HP or leasing, can affect how closely lenders examine your record. Plans with higher final payments may involve stricter checks than straightforward agreements like HP.

Lender policies

Lender practices vary. Some focus on the last three years, while others review the full 6-7 years. Specialist lenders may take a more flexible approach, particularly for those with bad credit.

Loan size and deposit

The amount you borrow and your deposit size matter. A larger deposit reduces risk for lenders, which could result in less rigorous checks.

The impact of negative marks on your credit file

Negative marks like missed payments or defaults can make lenders hesitate. How long do they last? Here’s a closer look:

Missed payments: How long does a default stay on your credit history? They hang around for six years but carry less weight over time if payments resume. For instance, a missed payment from two years ago might seem significant, but if you’ve made consistent payments since then, lenders are likely to view your recent efforts more favourably.

Defaults: Also visible for six years, but their impact fades as your credit habits improve.

CCJs: They last six years but lose their sting if satisfied and as time passes. Satisfying a CCJ demonstrates accountability and can help rebuild trust with lenders.

With consistent improvements, the shadow of these marks can lift, boosting your creditworthiness.

Does a poor credit history mean you can’t get car finance?

Not at all. You can still get car finance, even with a shaky credit record. Here’s a quick look at some of the best options for car finance with bad credit history:

Specialist lenders

There are lenders who specialise in helping borrowers with financial challenges. You just have to know where to find them! These types of lenders assess your current financial stability rather than focusing solely on past mistakes or unanticipated issues. Many also offer flexible repayment options.

Flexible plans:

Options like PCP or HP are designed with flexibility in mind and can be tailored to suit your circumstances.

How My Car Credit helps you navigate credit history challenges

At My Car Credit, we understand that life happens. That’s why we’re committed to finding car finance solutions for everyone, not just applicants with A+ credit. We don’t believe in a one-size-fits-all approach. Instead, we work to understand your unique financial situation and match you with lenders who offer terms that fit your needs.

Why choose us?

Soft credit checks. Our soft checks let you explore options without harming your credit score.

Expert advice. We guide you through your credit history and help you find the right lender.

Tailored solutions. Whether it’s bad credit car finance or flexible payment plans, we’ll help you every step of the way.

Ready to get started? Visit our online application form or contact our team today. Securing car finance with bad credit history could be simpler than you think.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

How to Avoid Common Pitfalls on Your Car Finance Application

The car finance application process might not be as exciting as picking out your make, model and trim level. But trust us, it’s just as important.

What’s at stake?

Get it wrong, and you could face higher interest rates, unfavourable terms and in a worst-case scenario, flat-out denial of your application.

Get it right, and you can secure a deal that fits your budget, with manageable payments, fair interest rates and best of all, the coveted ‘your application has been approved’ letter.

The key to success? Avoiding online car finance application pitfalls. Whether you’re completely new to auto finance or are a bit of an old hand, here’s your definitive guide to avoiding the most common mistakes.

Know your budget before applying

Get your financial ducks in a row before starting the car finance application process. The sticker price of the car is important but don’t forget to factor in the boring bits. Extras like insurance, maintenance, fuel and repairs should all be written into your final budget. A good understanding of your overall financial picture will help you set a budget that won’t leave you eating beans on toast for the next three years.

Tools like a car finance calculator are your best mates here. In a few clicks, you can estimate how much you can borrow, what your monthly payments might look like and how different terms affect the overall cost. Why crunch your numbers now? It’s simple. So you can make sure you’re not biting off more than you can chew.

Check your credit score

Lenders don’t know you personally, so a simple “I’m good for it” won’t suffice for a car finance application. Instead, they scrutinise your credit score. This numerical reflection of your financial reliability is like a vehicle maintenance log, except for your personal finances. Things like your payment history, outstanding debts, length of credit history and new credit enquiries can all affect your credit score.

Don’t stress if your score’s less-than-perfect though, there are ways to get back on track.

Play it smart with lenders

Sending off online car finance applications to multiple lenders might seem like a good way to increase your chances of approval. The reality? Too many “hard searches” on your credit file can make you seem like a risky borrower. Stick to soft searches or pre-approval tools that let you check your eligibility without leaving a mark.

Use credit check tools

Check your credit score with tools like Experian and Equifax before you apply. These will show you what lenders see and give you a chance to tidy up any issues.

Explore options for bad credit

Credit score looking a little worse for wear? Specialist lenders, like the ones we work with at My Car Credit, offer tailored finance options for auto finance applicants with poor credit.

Consider any additional costs

Monthly payments aren’t the whole story when it comes to car finance. Forgetting about the extra costs is one of the most common mistakes – don’t let it catch you out.

Beware the balloon payment

There’s likely a balloon payment waiting at the end of your term if you’ve gone for a PCP agreement. It can be a nasty surprise if you’re not prepared. Check out our balloon payment guide for a full rundown on what this is.

Work with the experts

The easiest way to avoid car finance application roadblocks? Work with someone who knows the ropes. We lay out all the costs upfront at My Car Credit, so you know exactly what you’re signing up for. No smoke, no mirrors. Just clear, honest advice from professionals who know their stuff.

Make sure your car finance documents are in order

Nobody loves paperwork, but when it comes to car finance, it’s non-negotiable. Missing documents can bring your application to a grinding halt, even if your credit score is best-in-class.

Your essential checklist

Here’s what you’ll need to have ready for your car finance application:

ID – Passport or driver’s licence
Proof of address – Recent utility bill or bank statement.
Proof of income – Payslips or tax returns if you’re self-employed.
Bank details – For setting up payments.

How My Car Credit can help

Worried you’ll miss something? This is where we come in. At My Car Credit, we know our way around the car finance application process. We’ll guide you through the paperwork step-by-step and make sure you’ve got everything sorted before your application’s sent off. With the right preparation, there’s no reason you can’t get it right the first time.

Next steps for a smooth car finance application

With your budget set out, your credit score checked and your documents in order, you’re ready to hit send on your car finance application.

Here are a few final tips to keep things stress-free:

Stay organised

Create a folder (digital or physical) for all your car finance application documents. Having everything in one place saves time and keeps headaches at bay.

Ask for help when you need it

Confused about anything? Don’t suffer in silence. My Car Credit is just a click or call away. We’re here to answer your questions about the car finance application process and help you get it right the first time.

Use online tools

From the My Car Credit budget calculator to free online credit checks with agencies like Experian, online tools are a fantastic resource. Use them – they’re designed to make your life easier.

Getting your car finance application approved isn’t rocket science. Success is all about preparation, attention to detail and working with the right team. By knowing your budget, checking your credit score, factoring in all costs and getting your documents in order, you can give yourself the best possible shot of an ‘approved’ verdict.

Don’t forget, My Car Credit is here to help every step of the way, so fill out an online car finance application and let’s get started.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

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Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

apply for car finance car finance car finance application car finance calculator online car finance application

How to Strengthen Your Eligibility for Car Finance

Love the idea of car finance but worried you might not be eligible? We’ve got you. Whether your score is showroom shiny or could use a bit of panel-beating, these tips on how to strengthen car finance eligibility will get you in the fast lane to approval.

Am I eligible for car finance? Here’s the thing. A strong application isn’t just a box-ticking exercise. It’s the key to unlocking better deals, lower interest rates and ultimately, the car you’ve been dreaming of. Putting in the groundwork now means fewer obstacles, more options and a better shot at driving away on terms that work for you.

And the best part? Car finance eligibility isn’t complicated. With the right moves and a decent understanding of how eligibility works, you can boost your chances of approval.

This is where My Car Credit comes in. We’re all about making car finance accessible for everyone. Yes, even applicants with less-than-perfect credit. Ready to take the first step? Let’s get stuck into those tips so you can stop wondering “will I get accepted for car finance”.

How you can check and improve your credit score

Your credit score is the financial equivalent of your driving record. A few bumps? Sure, they happen. But lenders might think twice if your score looks like the aftermath of a demolition derby.

Credit scores typically range from 0 to 999 in the UK, depending on the credit reference agency (CRA) running the check. A score above 700 is considered good, while anything below 500 could mean extra hoops to jump through.

Not sure where you stand? Checking your credit score is simple. Services like ClearScore and credit agencies like Experian let you peek under the bonnet for free.

If you do have a rough idea of your credit score, or you just want to play around with different car finance eligibility scenarios, plug your details into our car finance calculator. It’s a nifty tool that gives you a no-strings-attached estimate of what you could borrow.

Want to give your credit score a bit of extra horsepower? Here’s the blueprint:

Get on the electoral roll – Registering to vote is an easy way to improve your credentials with lenders.

Pay bills on time – Late payments leave marks lenders don’t love. Treat your bills like a pit stop – timing is everything. For example, paying a utility bill a week late might not feel catastrophic at the time, but it could knock a few hard-earned points off your score. This could ultimately mean the difference between approval and rejection.

Trim unused credit cards – A wallet full of credit cards isn’t impressive to lenders. It’s nerve-wracking to them. Keep the essentials and ditch the rest.

Dispute errors – If your credit report’s showing dents that aren’t yours, get them polished off. Every point counts towards car finance eligibility.

Save for a bigger deposit

The maths is simple for this one. Bigger deposits = happy lenders.

Am I eligible for car finance if my credit score is lacking? Yes, and a hefty deposit can help win over lenders. For example, a 20% deposit compared to 10% says, “Hey, I’m serious about this” and ready to commit. Beefing up your down payment can often lead to better deals and lower monthly payments.

Start by tracking your monthly expenses and cutting out non-essentials. Skipping your daily takeaway coffee might feel negligible but over six months, it could add up to a significant boost to your deposit.

Padding out your deposit isn’t just about strengthening your car finance eligibility. A larger down payment reduces the total amount you need to borrow. This means you’ll pay less interest over the life of the loan.

But what if you’re in a rush? Here’s a tip – consider a more affordable car. That way, your saved-up deposit goes further, and you’re still motoring in style. Just maybe not in a brand-new coupe… for now.

Avoid applying to multiple lenders simultaneously

Scattergun applications? That’s a hard pass.

Applying for finance with every lender under the sun might seem like a good idea. Especially if terms like ‘guaranteed car finance’ are dangled in front of you. But here’s the thing. It’s not. Every application adds a hard search to your credit report which lenders can see. Too many at once can make you look desperate for borrowed cash.

Let’s say you apply to five lenders in a month. Each one leaves a mark on your credit report and when the sixth lender sees this, they might think, ‘Why didn’t the others say yes?’ Suddenly, you’ve got a problem.

My Car Credit simplifies this. We do the legwork and submit applications on your behalf without turning your credit score into Swiss cheese. We also go the extra mile to match you with the best options for your unique situation, without the credit score bruising that comes from multiple applications.

What does this mean for motorists like you wondering will I get accepted for car finance? Less hassle, no damage to your credit score and a higher chance of getting the deal you want.

Be honest about your financial situation

Honesty is the best policy when applying for car finance. You wouldn’t claim your Fiat Panda can outpace a Bugatti, so don’t overstate your income or underplay your expenses. Lenders are smart and fibbing will only slow you down. Or worse, derail the whole process.

Am I eligible for car finance if my finances aren’t in great shape? High street banks might not approve your application, but you might be pleasantly surprised with the response from alternative lenders.

The bottom line? Be transparent. No smoke, no mirrors. It works both ways. Being upfront about your situation helps lenders tailor a deal that works for you.

Your next step to a stronger car finance application

Improving your eligibility for car finance isn’t just about meeting the minimum requirements. It’s about doing everything you can to unlock better options. The right preparation now could mean cruising into approval instead of idling in uncertainty.

Ready to fast-track your way to car ownership? At My Car Credit, we’re here to help boost your eligibility for car finance and get you behind the wheel. Apply now and let us help you secure a finance deal that works for you, no matter what your financial history.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

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Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

car finance car finance calculator car finance eligibility eligibility for car finance

Tips for Securing Affordable Used Car Finance Monthly Payments

A bit of strategic thinking goes a long way when it comes to keeping monthly car payments manageable. Financing used cars is a great start but it’s not the only way to save. Here’s a mix of tried-and-true methods and lesser-known hacks to help you lock in affordable monthly payments while still securing the car you need.

Why Buying a Used Car Can Be the Smart Choice

No surprises here – keeping monthly payments affordable is usually a top priority for Brits interested in car finance for used cars. After all, your budget needs to cover more than just the vehicle itself. It has to balance against rent, bills and the unexpected costs that come with day-to-day life. Not to mention the costs associated with car ownership in general.

Buying used can make a lot of sense when monthly payments are a priority. Why? Lots of reasons.

Used cars are priced lower than new models which makes it easier to find finance terms that fit within a realistic budget. Even better, they’ve already bypassed the dreaded depreciation phase. Just how bad is depreciation? A new car can lose around 20% of its value within the first year. In comparison, a used car has already absorbed most of this hit. Financing a used car means you’re essentially paying closer to the vehicle’s real, lasting value. This translates to a better deal over the life of your loan.

Wondering if used cars can be purchased on finance? Absolutely.

Finding the right used car finance plan can make all the difference and allow you to enjoy car ownership without stretching yourself too thin. This is exactly what we specialise in at My Car Credit. We ditch the cookie-cutter method and use a personalised approach to help you find the right finance plan. A tailored plan can be the difference between struggling with payments and owning a car that feels right at home in your budget.

Understand Your Budget Before Applying

Select your weapon of choice – your smartphone’s budgeting app, a simple spreadsheet or good old-fashioned pen and paper – and get real about your budget. You want to find out how much can you spend each month without tightening your belt too many notches.

Start with the essentials – rent, bills, groceries and whatever else keeps your household running. What’s left over? That’s your baseline for a comfortable car finance payment for used cars.

If you’re the number-crunching type – or if maths just isn’t your thing – the My Car Credit’s affordability calculator has your back. It helps you plug in your numbers and get a realistic look at what fits.

Poor Credit? Not to Worry

Maybe your credit history’s not sparkling? Join the club. Poor credit doesn’t mean you can’t finance a used car. It just means you might need a slightly different playbook. Sure, you could see higher interest rates, but affordable monthly payments aren’t off the table.

Good lenders will look beyond your credit score and consider factors like steady income and a decent deposit, to gauge the bigger picture. Some plans are built with flexibility in mind for people in this exact situation. This makes it possible to balance your car payments alongside everything else life throws your way.

Curious what’s possible with your situation? Use the My Car Credit affordability calculator to get a tailored view of what’s realistic. When you have your figure you can start the fun part – looking for a used car to finance!

Consider a Larger Deposit to Lower Monthly Payments

Got some cash stashed away? Using it to pay down a chunk of your car finance deal can be a smart move. A larger deposit lowers the amount you’ll need to borrow and as a result, shrinks your monthly payments. Plus, it earns you a big, shiny gold star with lenders.

The best part? You’ll continue to enjoy the benefits month after month, for the duration of your contract.

Want to see the impact? Try adjusting the deposit amount in My Car Credit’s finance calculator and watch how those monthly payments respond. You’ll likely find that even a small boost can ease the financial pressure and give you some breathing room.

Looking for a deal that fits your budget? Our team is here to help you find an auto finance agreement that works for you. Get in touch with an advisor today to chat about options for financing used cars.

Opt for a Longer Finance Term

Maybe a big deposit isn’t on the cards right now. If this is the case, it might be worth extending your finance term. By spreading the loan over a longer period, you can lower each monthly payment and make your loan easier to manage.

But there’s a trade-off. A longer term means you’ll pay more interest overall. It’s not necessarily a bad thing, if your priority is getting your monthly payments as low as possible. But it’s something to be aware of with car finance for used cars.

The key is finding a term that doesn’t stretch your budget now or hit you too hard in the long run.

Improve Your Credit Score for Better Terms

Down to play a longer game? Let’s talk about credit scores.

They have their quirks, but there’s no doubt they impact what you’ll pay in interest when financing used cars. A higher score generally unlocks lower interest rates, which brings down your monthly payments. If you’re not in a rush, take a few months to tidy up your credit. Small changes can make a big difference so don’t underestimate the potential.

The below tips aren’t just effective but are easy to action:

Clear up any lingering debts – High-interest debts (especially credit cards) are worth tackling first. And regular bill payments are non-negotiable if you want to keep that score healthy.
Skip new credit applications for now – Each application can give your score a bit of a ding, so it’s best to avoid new credit in the months leading up to your car finance application.
Stay on top of your current accounts – It sounds obvious, but consistent, timely payments on your existing accounts can build your score bit by bit.
Join the electoral roll – This one’s a quick win. Registering to vote in the UK is a simple way to boost your credit score. Lenders look for stability and being on the electoral roll helps verify your identity and ultimately, add a bit more weight to your credit profile.
Keep credit utilisation low – Aim to use only a small portion of your available credit. For instance, if you have a credit limit of £1,000, try to keep your balance below £300. This shows lenders you’re not maxing out your accounts.
Regularly check your credit report – Errors do happen. Reviewing your report every few months can help you spot and dispute any inaccuracies. We’re talking anything from outdated information to mistaken identities. It’s also a good way to keep an eye on anything that might need attention.

The goal is to make your credit profile look as healthy as possible, so you qualify for better finance terms when financing used cars. If you’re interested in more tips, check out our guide to improving your credit.

Choose a Car That Fits Your Budget

The car itself is a big factor when it comes to monthly payments. It’s easy to be tempted by hyped models like the revamped Tesla Model Y and Mini Aceman all-electric crossover SUV. But if affordable payments are your goal, buying second-hand can be a practical move.

Looking for a used car to finance? The UK market is packed with options that balance value and reliability. Ford Fiesta, Nissan Qashqai and Renault Clio – These aren’t just bestselling models (though their popularity does ensure there’s plenty of stock on the second-hand market). Used models all promise solid performance without draining your wallet.

Our advice? Do your homework, shop around and you’ll find a used car to finance that ticks all your boxes.

Get Personalised Support With the My Car Credit Team

Financing a used car doesn’t have to be a solo mission. And it certainly doesn’t have to be stressful. At My Car Credit, our team is here to guide you through the ins and outs of securing a finance plan that fits your budget. Whether it’s deciding on a deposit amount, weighing the pros and cons of different terms or figuring out what car fits best, we’re here to help you with personalised advice, every step of the way.

Ready to drive your next car on your terms? Start with our online application. It only takes a few minutes, and it’s designed to keep things simple so you can get behind the wheel faster.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

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Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

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Small Splendour: What’s the Best Luxury Hatchback?

Who says you need a huge SUV or a spacious saloon to enjoy a bit of luxury on the road? If you’re after a car that’s big on style but small enough to zip around tight city streets or squeeze down narrow country lanes, you’ll love our roundup of the best luxury hatchback models. Loaded with high-end features, these little gems prove that good things really do come in small packages.

Mini Cooper S

When it comes to luxury hatchbacks, the Mini Cooper S is as British as a cuppa. The iconic design is just the beginning. Behind the wheel, you’ll enjoy nimble handling and an extraordinarily good turning circle that’s perfect for city driving.

Worried about power? Don’t be fooled by its compact size. The Mini Cooper S packs a punch with a 2-litre four-cylinder engine that delivers plenty of oomph on the open road.

The stylish cabin is what makes the Mini Cooper S one of the best luxury hatchback models. Expect premium materials, a slick infotainment system and retro touches to make you feel like you’re driving a piece of British motoring history.

Mercedes-Benz A-Class

The Mercedes-Benz A-Class is exactly as the brand promises – a “benchmark for modern luxury in the compact class”. It’s got all the elegance you’d expect from the iconic German brand, but with the practicality of a hatchback.

The sleek, aerodynamic design looks just as good parked outside a fancy restaurant as it does in your driveway. Inside is a dual-screen setup with a digital instrument cluster and large infotainment display, both controlled by Mercedes’ state-of-the-art MBUX system. It’s as high-tech as it gets.

Power isn’t an issue thanks to a range of engine options, including petrol, diesel and hybrid options.

Accelerate from 0 to 62 mph in 7.4 seconds
Up to 215 hp output
Top speed of 140 mph

BMW 1 Series

The BMW 1 Series delivers the brand’s trademark driving experience in a more compact package. Sporty performance is front and centre – and it all starts with the rear-wheel-drive setup. The unique configuration means the driving experience is far more dynamic than many other hatchbacks in its class.

The cabin is both luxurious and driver-focused, with designers championing high-quality materials, intuitive controls and of course, BMW’s iDrive infotainment system.

Lexus CT

Luxury meets low emissions in the Lexus CT. This is one of the best luxury hatchback hybrids and features a serene cabin crafted with butter-soft NuLuxe pleather. Under the hood is a hybrid powertrain that delivers impressive fuel economy without compromising on performance. If you’re looking for a hatchback that’s big on power but gentle on the environment the CT meets the brief.

Finance your luxury hatchback

From the iconic Mini Cooper S to the sporty BMW 1 Series, luxury hatchbacks prove that you don’t need a Chelsea tractor to enjoy a premium driving experience.

Want to know more about luxury car finance for the best luxury hatchback models? Try our free Car finance Calculator today and get on the road to your next luxury hatchback.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Decadent Driving: 7 of the Most Luxurious Cars

Power Up: 5 Types of Hybrid Cars

Best Cars to Learn to Drive In

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

car buying car finance Hatchback Jan24 luxury nearly new used car

What to Look for in a Car Loan Quote

Most UK drivers just don’t have the cash to pay for a car upfront.

That’s where car finance comes in. Car finance is a catch-all term referring to a type of credit agreement. With car finance, you’ll borrow a pre-agreed amount of money from a lender. You then use this cash to purchase a vehicle and pay the loan back through a series of affordable monthly repayments, plus interest.

Car finance is an affordable, accessible, and flexible way to get behind the wheel of your dream car. In this article, we’ll examine what to look for in a car loan quote.

6 things to look for in a car loan quote

When shopping around for a car loan quote, you’ll likely come across a lot of jargon. You can use our car finance jargon buster to break down the kinds of terms that you might face in your search.

APR

An abbreviation of annual percentage rate, an APR refers to the full cost of your annual borrowing for a car loan. The higher the APR, the more you’ll pay overall.

An APR differs from an interest rate because it includes all standard fees and charges, as well as any interest you’ll be expected to pay. Therefore, it gives you an indication of the true cost of your car finance.

The APR must be disclosed before an agreement is signed, so you should always check this out when shopping for a car loan quote.

Comparing the APR offered by different lenders is a good way to compare car finance deals. Remember that the representative APR advertised is a benchmark – not all borrowers will receive it, so you need to check the APR that you’re offered.

Type of finance agreement

When shopping around for a car loan quote, consider what kind of car finance might best suit you.

One of car finance’s main draws for motorists is its flexibility. Different types of car finance agreements are available to suit different drivers.

Not all finance packages will work for everyone: your unique circumstances and needs will determine the right type of car loan quote.

Remember that the length of the loan term will also impact how much you pay in interest. The longer the term, the more you’ll pay back.

Any conditions or terms of the agreement

Different drivers have different priorities, so don’t opt for a ‘one-size-fits-all’ car loan quote.

Some motorists may be happy with mileage restrictions. Others might want to own the car outright, whilst some drivers are happy with the option to own the vehicle at the end of the agreement, or even to hand it back. Alternatively, you can find agreements which don’t require a deposit. It’s also worth knowing that you can face fines with some car finance agreements if you cause undue wear and tear on the vehicle.

When you’re looking for the right car loan quote for you, be realistic about your needs and circumstances, as well as the kinds of terms that will work for you. For example, if your work requires you to make long journeys frequently, choosing a car finance agreement with mileage restrictions may not be suitable.

Poor credit car finance

If you’ve got a poor credit score, you may not be eligible for certain car loan quotes.

Look for a lender like My Car Credit. We offer poor credit car finance to drivers with less-than-perfect credit scores. We combine a wide panel of trusted lenders with a sensible approach to help you get approved for a finance agreement that works for your circumstances.

Used car finance

Purchasing a ‘new to you’ vehicle is a great way of getting on the road without forking out for the sizeable outlay of a more recent car make and model.

If you’re looking for a car loan quote for a used or nearly new vehicle, check if your lender has used car finance available.

There are plenty of options for financing a used or nearly new car, with different agreements available to suit your unique situation and preferences.

Plus, if you’re looking for both your car and car finance in one go, check out if your lender or broker can help you with both. At My Car Credit, we’ve established excellent relationships with a large number of reputable car dealers across the UK, helping you to source your next nearly new car and car finance in one go.

Reputability and size of lender

It goes without saying that you should always establish the reputation of any lender offering you a car loan quote before signing a contract.

At My Car Credit, we’re part of the UK’s largest motor finance broker, Evolution Funding. This gives us access to the largest panel of car loan companies, meaning you’re more likely to find a car finance deal that suits your circumstances.

We’ve also got a friendly and experienced team of Car Credit Specialists who can offer any advice and guidance that you need throughout the process.

Plus, we’re also the ‘Best Broker’ winner for the ninth year running at the Car Finance Awards 2024, so you know you’re in good hands.

Find a car loan quote to suit you today

My Car Credit is dedicated to helping you find the best car loan quote for your needs and circumstances.

We pride ourselves on our speedy, hassle-free online application process. With us, you’ll receive a no-obligation quote in minutes, and any rate you see is the rate you get.

Do the maths today with our free online car finance calculator and get on the road to your next car.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

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Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

car finance car finance calculator car finance options car loan Jan24 used car

Best Cars to Learn to Drive In

From clutch control and parallel parking to basic road rules and motorway etiquette, there’s a lot to learn when getting behind the wheel for the first time. A good teacher is a must but what many young motorists don’t realise is that the car can also have a big impact on your driving experience. That’s why we’ve put together a roundup of the best cars to learn to drive in.

Whether you’re a brand-new driver or a parent on the search for the best cars for teenagers, this guide spotlights vehicles that are easy to handle, reliable and affordable – a winning trifecta in our opinion! We’ve included new models for 2024 as well as popular used options. And yes, you’ll see both manual and automatic cars on the list.

1. Ford Fiesta

New Price: £19,000 – £23,000
Used Price: £5,000 – £10,000

When it comes to staying power it’s hard to beat the Ford Fiesta. It’s a firm favourite among learner drivers in the UK, and for good reason. As well as being compact and easy to manoeuvre, it’s packed with best-in-class safety features. This is exactly what you want when you’re learning to drive.

2. Volkswagen Polo

New Price: £20,000 – £24,000
Used Price: £6,000 – £12,000

The Volkswagen Polo is hands down one of the best cars to learn to drive in. Known for its quality construction and reliable engine, the Polo promises comfort and safety. The well-designed interior boasts intuitive controls while the car’s compact size makes navigating city streets a breeze. Like the Ford Fiesta, the Volkswagen Polo is available in both manual and automatic, offering lots of flexibility for learners.

3. Toyota Yaris

New Price: £21,000 – £25,000
Used Price: £7,000 – £13,000

Looking for a learner-friendly hybrid? The Toyota Yaris is a great pick for eco-conscious new drivers. Its compact size delivers excellent fuel economy while a suite of safety features, including automatic emergency braking, offer peace of mind for learner drivers (and their teachers riding shotgun!).

4. Kia Picanto

New Price: £13,000 – £17,000
Used Price: £4,000 – £8,000

Built for urban driving, the Kia Picanto is a terrific budget-friendly option for beginners. It’s one of the more affordable cars to learn to drive in but certainly doesn’t skimp on quality or performance.

5. Hyundai i10

New Price: £15,000 – £18,000
Used Price: £4,000 – £9,000

The Hyundai i10 is a small car that offers big value. It’s affordable, easy to drive and comes with all kinds of optional extras. Think alloy wheels, LED daytime running lights, smart key technology, heated front seats, privacy glass and more. Talk about luxury for less! The compact size and easy-to-handle steering make it a breeze to drive and park – a big plus for learners who might be nervous behind the wheel.

6. Vauxhall Corsa

New Price: £18,000 – £22,000
Used Price: £5,000 – £10,000

With low running costs and responsive handling, it’s easy to see why the Vauxhall Corsa is one of the best cars to learn to drive in. The model is available in both manual and automatic, with newer versions built with petrol, hybrid or fully electric engines. Modern tech features like touchscreen infotainment systems make it easy to run Google Maps, crank Dua Lipa and stay connected on the go.

7. Renault Clio

New Price: £19,000 – £23,000
Used Price: £5,000 – £10,000

This much-loved French supermini is a stylish choice for new drivers. The high-quality interior feels luxurious and efficient engines keep running costs low. It’s also surprisingly spacious for a small car.

8. Mini Hatchback

New Price: £22,000 – £28,000
Used Price: £6,000 – £12,000

If it’s good enough for Kate Moss, it’s good enough for learner drivers! The Mini Hatchback is a British icon and perfect if you want to inject a bit of fun into your driving lessons. Agile handling is just the beginning… The car has a premium feel and despite its compact size, feels quite spacious inside.

9. Fiat 500

New Price: £16,000 – £20,000
Used Price: £4,000 – £8,000

What’s not to love about a little Italian flair when you’re learning to drive? Going strong since 1957, the model is widely considered the first ‘city car’ and set a new benchmark for compact design. New generation models are fun to customise, but you’ll also find great deals on the used market.

10. Honda Jazz

New Price: £21,000 – £25,000
Used Price: £6,000 – £12,000

A little bigger than some of the options on this list of the best cars to learn to drive in, the Honda Jazz promises space and versatility. A high driving position promises excellent visibility and helps boost the confidence of new drivers.

Why these cars are ideal for learning to drive?

Easy to handle and manoeuvre

The last thing you need when learning to drive is a car that’s tough to handle. All the models mentioned above are known for their easy manoeuvrability, making them ideal for newbies who are still building their confidence behind the wheel.

Great safety features

New drivers benefit enormously from cars with modern safety features. From automatic emergency braking and lane departure warnings to multiple airbags, the cars in our roundup all perform exceptionally when it comes to safety.

Affordable

Even new, the cars mentioned above offer unbeatable value for money. And let’s face it, affordability is a big priority for most new drivers. Even better, all models boast lower running costs, another plus for budget-conscious learners.

Learn in style with My Car Credit

Whether you opt for a brand-new set of wheels or a reliable used model, the right car can significantly enhance the learning experience for new drivers. The key to finding the best cars to learn to drive in? Picking a vehicle that offers a good balance of safety, affordability and ease of use. When you’ve settled on a favourite, My Car Credit is here to help you secure the keys with car finance advice for young drivers.

Try our car finance calculator and see how My Car Credit can get you into the driver’s seat.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Small Splendour: What’s the Best Luxury Hatchback?

Decadent Driving: 7 of the Most Luxurious Cars

Power Up: 5 Types of Hybrid Cars

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

budget car buying car finance Jan24 nearly new used car

How Much Does a First Car Cost?

Buying your first car is exciting and it’s easy to get carried away with dreams of a luxury Land Rover, tech-packed Tesla or flashy convertible. That is until reality hits. For most young motorists, budget is a major factor when shopping for a first car. That’s why we’ve dedicated an entire post to breaking down what to expect for your first car cost.

The cost of new cars in the UK

Like any other commodity, the cost of new cars can vary enormously. Price will depend on things like the make, model and features of the car. On average, a new small car in the UK costs between £20,000 to £25,000. However, this figure climbs drastically for new cars in general, which are priced at more than £40,000 on average.

For obvious reasons, compact and fuel-efficient cars are usually the best bet for young drivers. Here are some popular new models:

Ford Fiesta – A longstanding favourite in the UK, the Ford Fiesta is zippy, reliable and excellent on fuel. New models start at around £19,000.

Volkswagen Polo – Quality construction and a focus on comfort make the VW Polo a great first car. Expect to pay around £20,000 for a new model.

Toyota Yaris – Hybrid versions of the Toyota Yaris start at about £21,000.

Kia Picanto – A budget-friendly option for new drivers, the Kia Picanto starts at around £13,000.

The cost of a used car

Buying second-hand is one of the best ways to save money when shopping for your first car. The average Brit spends just under £17,000 on a used car, but there are plenty of listings out there for much less. Here are some popular used models:

Ford Fiesta – Used versions of this zippy little bestseller can range from £5,000 to £10,000, depending on age and condition.

Volkswagen Polo – Expect to pay between £6,000 and £12,000 for a used VW Polo.

Vauxhall Corsa – Another popular choice for young drivers, used Corsas range from £5,000 to £10,000.

Fiat 500 – This stylish city car can be snapped up for between £4,000 and £8,000 if you’re happy to go pre-owned.

Extra costs to consider

Don’t forget, purchase price isn’t the only cost to factor in when budgeting for your first car. Here are some additional costs you’ll need to consider:

Insurance

Young drivers often face higher insurance premiums as they’re less experienced. On average, car insurance for a new driver can cost around £1,200 per year.

Road tax

The cost of road tax varies depending on the car’s emissions. Expect to pay between £100 and £150 annually for most small cars.

Fuel

Your fuel spend will depend on how much you drive and the fuel efficiency of the car. For reference, the average British motorist spends around £1,200 on fuel per year.

Maintenance and repairs

It’s best to set aside cash for expenses like regular servicing as well as unexpected repairs.

MOT

If your car is more than three years old, you’ll need to pay for an annual MOT test. Budget around £50 for this expense.

Unlock savings with My Car Credit

The best way to stretch your budget further? Partnering with an experienced broker. At My Car Credit, we pride ourselves on securing the best finance deals for young drivers, leaving you with more cash in your pocket.

Check out our handy online car finance calculator and start your journey to your first car today.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Small Splendour: What’s the Best Luxury Hatchback?

Decadent Driving: 7 of the Most Luxurious Cars

Power Up: 5 Types of Hybrid Cars

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

budget car buying car finance first car Jan24 nearly new used car

6 Advantages of Buying a Used Car

Buying a car is one of the biggest purchases you’re ever going to make. In fact, after a house, a car is the second highest expense most people face. As such, many drivers just don’t have the upfront cash to finance a new set of wheels.

In this article, we break down ways to establish your new car budget. We’ll also outline factors to consider when budgeting for a new, nearly new, or used car.

How much of your income should you spend on a new car?

As a general rule, you shouldn’t be spending more than 10-15% of your take-home pay on a new car budget, and the total expenses of your car shouldn’t be more than 20% of your take-home pay.

You can use a salary calculator to establish your take-home pay.

Factors to consider when working out your new car budget

There are a number of factors which will impact the budget you’ll have to spend on a new car.

Fuel

The MPG (miles per gallon) of a car is worth evaluating – particularly if you’re going to be using it for long journeys. Consider whether a diesel or petrol engine is best for you. Alternatively, if you’re going electric, note how long the car takes to charge up and what its total range is.

Road tax and insurance

The road tax and insurance of a vehicle varies significantly between different makes and models.

Car insurance is a legal requirement, and likely to be your biggest running expense – particularly if you’re a young driver. The road tax of your car can also be a sizeable outlay.

Maintenance and service fees

Servicing and maintenance of a car are a vital way to keep the vehicle in proper working order. But they can also be expensive, especially if unexpected accidents occur.

There are a range of different resources you can check to ascertain the reliability of a car, including Auto Express magazine’s 2020 Driver Power survey and the Which? car survey.

Make and model

We all love that new car smell. But can you afford a brand-new make and model given the depreciation that will automatically occur when you drive off the forecourt?

Alternatively, if you’re part-exchanging your vehicle for another, how much value has it held? How well does the new vehicle you’re eyeing up hold its value?

How to establish a new car budget with finance

Car finance is a great way of funding the purchase of a new or ‘new to you’ vehicle. With car finance, you break down the cost of the vehicle into affordable monthly repayments, plus interest.

There are different car finance agreements available, making it a highly flexible, accessible, and affordable way of purchasing your next set of wheels.

You can use My Car Credit’s car finance calculator to work out your new car budget. We’ll ask you to provide details like the loan amount and repayment term that would best suit you, as well as your credit rating. From there, you’ll receive a no-obligation quote for car finance in mere minutes. This quote will break down your expected monthly payments, as well as the typical rate and total payable. If you’re happy with what you see, you can apply instantly.

The process is all conducted online, and it’s simple and hassle-free. We’ve got the largest panel of lenders out of any broker in the UK, meaning you’ve got the best chance of finding a deal that works for your budget.

Once you’ve kickstarted your application, you’ll then be able to shop around for your next new, nearly new, or used set of wheels. You’ll know exactly how much you’ve got to spend, putting you in the driving seat of your search.

What’s more, we’ve even got used car finance for drivers looking to finance a ‘new to you’ vehicle. Fast and fair, we welcome all circumstances and can help you to get behind the wheel of a safe, secure second-hand car.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Small Splendour: What’s the Best Luxury Hatchback?

Decadent Driving: 7 of the Most Luxurious Cars

Power Up: 5 Types of Hybrid Cars

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

budget car buying car finance Jan24 nearly new used car

6 Advantages of Buying a Used Car

Whether you need a vehicle for work or to get your family around, there are any number of reasons why owning a car can be essential. But it can also be expensive – which is why buying a used car has its benefits. Read on to find out more.

Advantages of buying a used car

Cost savings

Used cars are less expensive than brand-new, state-of-the-art models.

By opting for a ‘new for you’ vehicle, you can end up saving yourself thousands of pounds. What’s more, by saving on the initial outlay, you may even be able to afford a better model. You can therefore benefit from improved technology and features without shelling out serious cash.

If you’re a first-time driver, a used car also offers a more wallet-friendly way to get on the road.

Plus, with a used car, you don’t have to worry about depreciation – it will retain its value more effectively during your ownership.

Finance flexibility

There are plenty of used car finance options for ‘new to you’ vehicles.

Used car loans are a great option for those who want low monthly repayments and have an excellent credit score. Plus, you’ll benefit from lower interest rates compared to new car loans.

Alternatively, used PCP and HP are both flexible, affordable used car finance agreements.

Proven reliability

It’s a myth that used cars are less reliable than brand-new vehicles.

In fact, a nearly new or used vehicle is more likely to have a proven track record of reliability and durability.

You can always research the reliability of a make and model online – look for ratings, user reviews and maintenance history. By choosing a car that’s known for its reliability, you’re more likely to experience a dependable drive for the long term.

Lower insurance rates

As a general rule, the older the vehicle, the lower the insurance rates.

There’ll be different factors that impact the insurance rate. That said, you’ll typically save more money on insurance premiums over the lifespan of a used vehicle than a new model.

More variety

The used car marketplace is big, meaning that you have plenty of car brands, makes and models to choose from.

This gives you plenty of opportunity to research and shop around for the exact used car that meets your needs and circumstances. A wider selection improves competitive pricing and increases your likelihood of finding a reliable car with an excellent track record.

Factory warranties

Factory warranties are getting longer and are increasingly easy to transfer from owner to owner.

You may therefore be able to pick up a vehicle that’s only a few years old and still covered under warranty. This can give you peace of mind and take the risk out of choosing a used car over a brand-new vehicle.

Finance your used car with My Car Credit

If you want to unlock the advantages of buying a used car, My Car Credit can help. We help drivers find used car finance by comparing deals from a large network of trusted lenders. Secure an agreement that works for you by trying our online finance calculator.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Small Splendour: What’s the Best Luxury Hatchback?

Decadent Driving: 7 of the Most Luxurious Cars

Power Up: 5 Types of Hybrid Cars

Loan amount

£

Repayment term

My credit rating

X monthly repayments of
^£X

Typical rate

Loan amount

Total payable

X% APR*

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 10.9%, annual interest rate (fixed) 10.87%, 47 monthly payments of £191.50 followed by 1 payment of £201.50 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,702, total amount payable £9,202.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!

or call 01246 458 810

car buying car finance Jan24 nearly new used car

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Know your budget before applying

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