Jan24 Archives - My Car Credit

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

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

Exploring the Best Car Finance Options for Poor Credit

There’s no getting around it. Securing car finance with a low credit score can be frustrating. Almost as frustrating as tracking down a reasonably priced coffee in London or riding the Central Line at rush hour.

Our best advice? Pare back your expectations and consider buying a used car. Not only are second-hand vehicles easier on the wallet but they potentially come with lower credit score requirements due to costing less than a brand-new version of the same vehicle…

Struggling with poor credit? Plenty of Brits are in the same boat. In fact, around 20% of British adults have a poor credit score. The secret to getting around it is to understand how credit scores work and why yours is lacking.
We’ve got your back with this easy-to-read guide.

How is poor credit affecting your car finance?

Credit scores are a bit like school reports. They tell lenders how reliable you are with money. How bad does your score have to be to fall into the “poor” category?
What’s considered “poor” can vary between credit agencies:

Experian: Anything below 720 out of 999 is seen as poor.
Equifax: A score under 380 out of 700 lands you in the poor category.
TransUnion: Scores below 565 out of 710 are considered poor.

Having a score in these ranges can make lenders cautious. What does this mean for borrowers? Higher interest rates and rejections. It’s more common than you might think. The latest figures from the Money and Pensions Service (MaPS) reveal that one in five UK adults are declined for credit.

It’s a high percentage, but don’t let it discourage you. Whether you’re worried about the outcome of an application or have already been denied, understanding where you stand is the first step to getting around car finance with a low credit score.

Unpacking a poor credit score

There are a few reasons why your score might be in the doldrums. Maybe you missed a few payments, defaulted on a loan, or you’re just carrying a bit too much debt. Whatever the reason, poor credit can make getting car finance a bit trickier.

But don’t give up just yet. With the right preparation, you can still find a way to make your car finance and credit score work. Lenders will want to know you’re capable of making those monthly payments, so having your financial ducks in a row is a great place to start.

Assessing your car finance situation

Before you start shopping for a new-to-you car it’s time for a quick reality check. Ignorance isn’t bliss. Knowing your credit score is essential. You can check it online for free to get an idea of what you’re up against.

Next, take a good look at your finances. Ask yourself:

What’s your income like?
What are your locked-in monthly expenses?
What debts are you juggling?

These questions will help you figure out what you can realistically afford. car finance calculator is a great tool to help you find that sweet spot. Crunch your numbers so you’re not left with more month at the end of your money.

What can you expect from your poor credit car finance?

Higher interest rates, bigger deposits and shorter loan terms are common symptoms of poor credit. The good news? With the right strategy, you can secure the best deals for car finance with a low credit score , just like these customers did:

“Helped me all the way. So easy to do. And I’ve got a bad credit score. So it’s possible to get it through these guys. Really pleased with the help and support.” – Carl

“Very easy and quick to have me in my new car and considering I have bad credit they managed to find me a good deal. Very happy customer.” – Thomas Dudley

Improving your application

Use these tips to give your car finance and credit score application the best possible chance:
Start by saving for a bigger deposit. It shows you’re serious and can reduce the amount you need to borrow.

Next, gather proof of a steady income. Payslips, bank statements – whatever it takes to show you’re on solid ground.
Don’t go for the flashy sports car if your budget is more sensible saloon. Look for something affordable, reliable and within your means.
Got a story behind your poor credit? Maybe you lost your job or had unexpected expenses. Tell the lender. They might be more understanding than you think.

Avoiding predatory lenders

It’s easy to feel like you’ve got a target on your back when you’re looking for car finance with a low credit score. Some lenders out there specifically target individuals with low income and bad credit sare as bent as a nine-bob note, so watch out for red flags. Here are some common ones:

A lender promises guaranteed approval without looking at your finances
You’re seeing sky-high interest rates
They push you to sign paperwork quickly without giving you time to read the terms.
There are hidden fees or charges that weren’t clearly explained.
They discourage you from asking questions or getting a second opinion.

How to recognise fair vs. exploitative terms

Knowing the difference between fair and exploitative terms is a must. Fair terms are transparent and clearly state interest rates, fees and repayment conditions. There are no sneaky clauses or hidden charges. Lenders will encourage you to ask questions and take your time before signing anything.

Exploitative terms are often cloaked in jargon. Look out for excessive fees or penalties for late payments, along with aggressive sales tactics to pressure you into a quick decision.

Protect yourself and always read the fine print to make sure you understand what you’re signing up for. A reputable lender broker like My Car Credit will be transparent and supportive, not confusing and pushy.

See how our poor credit car finance can support you

At My Car Credit, we get that life doesn’t always go to plan. We’re here to help you match up your car finance and credit score, with no hidden fees or nasty surprises. Just honest advice and a straightforward signup process.

Give us a call on 01246 458 810 to find out more or email us at enquiries@mycarcredit.co.uk to see how we can help you get where you want to be – behind the wheel! You can get the ball rolling, without it impacting your credit score*, by submitting an initial application.

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

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 Jan24 Lexus luxury porsche suv

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 Criteria Poor Credit Car Finance Lenders Look for in an Application

Getting car financing with poor credit can feel like an uphill climb in an old beater. But it’s far from a lost cause. A few financial missteps in the past don’t have to stand between you and your next ride. By understanding the main criteria lenders consider, you can boost your application, present yourself as a trustworthy borrower and put yourself in a strong position to secure the car finance you need.

How to Choose the Right Used Car for Your Budget

It’s important to stay realistic when applying for car financing with poor credit. Yes, we’d all love a flashy sports car or a luxury SUV. But sticking to budget-friendly models can help keep lenders on your side. Why? It shows you’re mindful of your financial limits.

There are lots of great used cars out there that won’t break the bank but will still get you where you need to go. For instance, buy used and you could score a British bestseller like the Nissan Qashqai or Kia Sportage for a fraction of the manufacturer’s suggested retail price (MSRP).

Compact cars can also be a great option if you have your heart set on a new set of wheels but don’t want to break the bank. Models like the Dacia Sandero, Citroen C3 and Renault Clio aren’t just affordable but are great on fuel, cheap to insure and easy to park. These are all huge perks if you live in expensive, traffic-choked cities like London or Birmingham.

Your Credit History – What Can Lenders See?

Your credit history is like a financial CV. It offers lenders a look at the whole picture, warts and all. Some credit histories score an A+ with lenders and others aren’t quite as accomplished.

Hiccups like missed payments, defaults and lots of debt can drag down your score. The road starts to look a bit rougher when terms like ‘bankruptcy’ and ‘County Court Judgements’ (CCJs) start to pop up. CCJs are a formal recognition by the court that you’ve failed to repay a debt, and they can impact your ability to secure car financing with poor credit.

Most lenders will take a good look at your history report before deciding, regardless of your credit score.

Don’t panic if you’ve had a few bumps along the way. Lenders understand that life happens. What they’re really looking for is your current financial behaviour. Making an effort to pay off debt or stay on top of bills recently can go a long way.

Positive changes like reducing your credit card balance or paying off small debts can also work in your favour. Think your credit score could use a leg up? Check out our article on credit score advice for more tried-and-tested tips on how to improve your credit score.

Proof of Your Income

The next thing lenders will want to know is whether you can afford the monthly payments. This is where your personal income comes in. Documents like recent payslips or bank statements are the best way to prove you’ve got a steady cash-flow. Lenders might ask for tax returns as proof of income if you’re self-employed.

The goal is to show that you’ve got enough regular income to cover your loan payments without leaving you struggling to meet other financial commitments, like rent or bills.

Not quite sure if your income is up to snuff? Why not have a chat with a My Car Credit advisor? Our team is always more than happy to go over the income side of car financing with poor credit and help you understand what’s needed.

Gain the Lender’s Confidence With a Down Payment

Don’t underestimate the sway of a healthy down payment for car financing with poor credit. Not only does a nice sum reduce the amount you need to borrow, but it also shows lenders that you’re serious about the deal. By putting some of your own money upfront, you’re taking on some of the risk and showing commitment to the purchase, which lenders really like to see. A bigger down payment also lowers your monthly payments and makes the loan more affordable overall. Who doesn’t want that?

Use our handy car finance calculator to play around with your numbers and help you get a clear picture of what to expect. We also recommend having a chat with your lender to discuss how different down payments will affect your monthly budget, and to make sure a larger sum makes sense for your car finance application.

A Car Finance Affordability Assessment

Lenders factor in a lot of different things when assessing car finance affordability, but ultimately, they’re looking at the bigger picture. This means your income won’t be the only factor under the microscope. Lenders will also want to see if the loan is realistically affordable for you.

This is where an affordability assessment comes in.

Lenders will go over your monthly expenses with a fine-tooth comb, looking at everything from rent or mortgage payments to utility bills. Even your regular spending on groceries and other general living expenses are on the radar. They want to make sure that by adding car finance to the mix, you’re not stretching yourself too thin.

If your financial commitments are already weighing you down, lenders might think twice about offering you a loan. This is why it’s important to review your budget before applying and make sure you’re comfortable with what’s left over after your essential outgoings. Current debts will also be considered. This includes credit card balances, personal loans and overdrafts.

Being upfront about your financial situation during this stage is key.

Lenders are detail oriented but they’re not running a vendetta to catch you out. They want to help you secure a car financing with a poor credit loan that you can comfortably afford.

And that’s exactly what we aim to do here at My Car Credit.

Knowledge Is Power: Know What Lenders Look For

The bottom line? It helps to know what’s on a lender’s checklist when aiming to put your best foot forward in a finance application. Use this quick summary of the key areas they’ll focus on to strengthen your application:

Credit history – Basically your financial track record. Lenders will look through your credit report and check for things like payment history, any defaults or County Court Judgements (CCJs). Recent positive actions (like paying down debt or consistently meeting payments) can make a good impression.
Proof of income – Lenders need to see that your income can comfortably cover your monthly payments. Payslips, bank statements or tax returns (if you’re self-employed) help show that your finances are steady.
Down payment amount – A solid down payment can be a big confidence boost for lenders. By putting more down upfront, you reduce the total amount borrowed, lower monthly payments and show you’re serious about the loan.
Current financial commitments – Car finance application lenders want to understand your current financial commitments to be sure a new loan won’t push you over the edge. They’ll also look at other debts, like credit card balances, personal loans and overdrafts, to make sure everything adds up.
Affordability assessment – Be ready to disclose the details of your monthly budget. Lenders will consider your debt-to-income ratio and essential expenses, like rent, utilities and general living costs. The goal is to make sure you can comfortably add a car payment without overstretching your finances.

We get it. These checks might seem thorough and maybe even a bit invasive at times. But they’re designed to help both you and the lender feel confident about your loan.

Secure Poor Credit Car Finance With My Car Credit

Understanding what auto finance lenders look for in an application is half the battle won. By focusing on your credit history, proof of income, offering a down payment and making sure you can comfortably afford repayments, you’ll give yourself the best shot at approval.

This checklist applies to all car finance applications but is especially important for car financing with poor credit, as lenders are that little bit more cautious.

Teamwork Makes the Dream Work

Everyone knows challenges are easier to overcome with teamwork. This is where My Car Credit rides shotgun. We pride ourselves on making car finance as easy as possible, no matter what your credit score.

Whether your credit score has had a few knocks over the years, or your standing is low because you’re new to the borrowing game, we’re here to help. Our team offers personalised finance options and expert guidance, tailored to your individual circumstances.

Apply now to get your car finance application rolling! It takes just a few minutes and won’t affect your credit score as we use a ‘soft search’ for initial applications. When you’re ready to advance to the next stage some lenders might perform a hard search on your credit file, but that’s just part of making sure you’re set up with the right finance plan.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Understanding How Far Back Lenders Look into Your Credit History

Tips for Car Finance Recovery After a CCJ

How to Strengthen Your Eligibility for Car Finance

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

credit rating credit score hard search Jan24 soft search

Decadent Driving: 7 of the Most Luxurious Cars

French champagne, business class flights, summers in the Med… there’s a certain je ne sais quoi about splurging on the finer things in life. Cars are no exception. For some people, driving is simply about getting from point A to point B. And there’s nothing wrong with that. But for a certain type of motorist, getting behind the wheel is about the experience. This is where the most luxurious cars can turn the simple act of driving into something special.

Whether you’re genuinely in the market for a luxury vehicle or simply want to indulge in a bit of daydreaming, the cars we’ve handpicked below make a serious statement when it comes to decadent driving.

1. Rolls-Royce Phantom

Legendary maverick. Icon of inimitable perfection. Exquisitely crafted.

No, we’re not talking about David Beckham. These are the terms used by Rolls-Royce to describe the Phantom, one of the most luxurious cars of all time. Funnily enough, Becks was once the proud owner of a Rolls-Royce Phantom Drophead Coupe, which is practically built for summers in the British countryside or the south of France.

The Top Gear boys gush over the Phantom, claiming “nothing in life is perfect, but the Phantom gets close” and calling it “an imperious, impeccably engineered automotive experience.”

The interior is handcrafted with the finest materials money can buy and feels more like Soho House or the Shoreditch Arts Club than a car cabin. We’re talking:

Lambswool floor mats
A starlight headliner with thousands of fibre-optic lights
Rear coach doors

Whether you’re attending a black-tie event in Central London or planning a weekend getaway in the Cotswolds, the Phantom guarantees you’ll get there in style.

2. Bentley Continental GT Speed

Buckle up because the Bentley Continental GT Speed promises phenomenal power.

The model uses an Ultra-Performance Hybrid Powertrain to combine the muscle of a V8 engine with a torque boost from the electric motor. The result? Astronomical performance.

Accelerate from 0-60 mph in just 3.1 seconds
Hair-raising top speed of 208 mph
1,000 Nm (738 lb ft) of torque

With this kind of power under the hood, you’ll be tempted to plan a road trip to the Autobahn…

3. Mercedes-Benz S-Class Saloon

Mercedes-Benz sets a benchmark for the most luxurious cars and the S-Class Saloon takes this status to new heights. Cocoon yourself in comfort with features like:

Massaging seats for on-road bliss
Ambient lighting
Advanced air purification system

A vivid 12.8-inch OLED touchscreen is the crux of the car’s MBUX infotainment system. The S-Class is also equipped with the latest in driver assistance technology, making it not only one of the most luxurious cars on the road, but also one of the safest. Even better, the model is now available with a mild hybrid engine which wins it points with eco-conscious motorists.

4. Aston Martin DBS

The name’s Bond. James Bond.

If it’s good enough for 007, it deserves a place in our countdown of the most luxurious cars. The Aston Martin DBS was Bond’s car of choice in Casino Royale and is a discerning choice for motorists who crave luxury, performance and a dash of star power. It’s no longer manufactured new in the UK, but you will find some swoon-worthy models on the used market.

Prefer to buy new? Try the Vantage Coupe, a car “hardwired with the ability to get your heart racing”.

Hand-stitched Bridge of Weir hide upholstery
Carbon fibre accents
Crystal-clear Bowers & Wilkins sound system

5. Range Rover SV

Designed and built in the UK, the Range Rover SV is the ultimate statement for patriotic drivers. The model recently received a glow-up that focussed on making the car even more luxurious. Craftsmanship is front and centre to help achieve the brand’s mantra of “luxury you can touch as well as see.”

Sink into plush leather seats
Run your fingertips over glossy white ceramic controls
Experience the state-of-the-art Pivi Pro infotainment system

6. Porsche Panamera

The four-seat Porsche Panamera redefines what a luxury saloon can be. It marries the exhilarating performance of a sports car with the comfort of a high-end executive vehicle and yes, it’s a pleasure to drive. Thrilling acceleration isn’t the only highlight. The interior is pure Porsche and features a driver-focused layout, premium materials and the latest technology.

Four-zone automatic climate control
Adaptive sport seats
Ambient lighting to match your mood

It’s this combination of performance and practicality that makes the Panamera a standout in the most luxurious cars market.

7. Lexus LS

The Lexus LS is proof that the Japanese know a thing or two about luxury. The high-end saloon combines exquisite craftsmanship with the very best in modern technology. If we had one word to describe the interior, it would be serene.

Shiatsu massage seats
Customisable climate concierge that adjusts the temperature and airflow based on your preferences
Hand-pleated door trims
Kiriko glass accents bringing a touch of Japanese artistry to the interior

Drive in style with My Car Credit

Driving one of the most luxurious cars doesn’t have to be a dream. At My Car Credit we’re here to help you get behind the wheel of your dream car with tailored finance for luxury vehicles.

Don’t quite have the budget for a Rolls-Royce Phantom or Aston Martin DBS? Let’s be honest, most people don’t. But that doesn’t mean you have to compromise on luxury. If you’re looking for something that feels just as extravagant but won’t give you serious sticker shock, models like the Audi Q7, Tesla Model S and BMW 7 Series are some of our top picks.

Try our Car Finance Calculator to find out more about how we can help elevate your driving experience.

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?

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

Aston martin Bentley car buying Jan24 Lexus luxury Mercedes-Benz porsche Range Rover Rolls Royce

How Long Does It Take to Get Your Credit Score Up?

Your credit score and credit report are important. The higher your overall score and better your credit report, the better your chances are for finance acceptance. That’s true no matter what type of loan you’re applying for, whether it’s a pay monthly mobile phone or a mortgage.

How long does it take to improve your credit score?

There’s no hard and fast answer for how long it takes to get your credit score up.

It can take anywhere from a few months to several years.

The length of time it takes will depend on your credit history.

Other factors like moving home often, bankruptcy, county court judgements (CCJs), and defaulting on accounts can all negatively impact your credit score.

There’s no quick way to repair your credit score. That said, there are ways that you can improve it over time, which will then improve your future loan eligibility.

How to improve your credit score

Young people or those who’ve newly relocated can struggle with lower credit scores. However, there are ways to build your credit history and make you a more favourable loan candidate.

Prove your residency

Register on the electoral roll of your current address to prove where you live. Every time you move address, update this registration.

You should do the same with any banks and utility providers.

Ensure that there’s consistency in how you spell your address. Though seemingly small, inconsistencies have the potential to impact your overall score.

If possible, avoid regularly moving. Lenders look for stability, and moving home frequently can indicate that you’re having trouble paying rent.

Pay your bills on time

Pay regular payments on time and in full each month. This shows lenders you’re a responsible and reliable borrower.

Pay off your debts

As well as ensuring you make regular repayments, pay off all debt in full.

Keep credit utilisation low

Your credit utilisation is the percentage of your credit limit that you use.

A lower percentage is more favourable – try and keep it below 30% if you can. You can help to do this by paying off any outstanding balances or debts.

Minimise new credit applications

Hard credit checks leave a mark on your credit report. If your credit report shows multiple marks over a period of six months, this will negatively impact your credit score.

Plus, prospective lenders will see this as a sign that you’re a risky borrower, or that you’re in financial trouble. You’re therefore less likely to secure a loan.

Improve your credit score by minimising new credit applications requiring hard credit checks.

Dispute errors on your credit report

Check your credit report regularly. If you notice even small mistakes, such as misspelt addresses, raise this with your provider immediately. It could be the difference between being accepted or rejected for a loan.

Monitor your credit file for fraudulent activity, too. Scammers could take out credit in your name without you realising it. If you see an application in your report that you didn’t initiate, seek out a specialist fraud support team to report it immediately.

Consider applying for a credit builder card

A credit builder card can help rebuild your credit score. You’ll typically face low spending limits and high interest rates, and the initial application will cause your credit score to drop. This initial drop will disappear after a few months, and through responsible use of your card, you’ll actually build your overall score.

Avoid bankruptcy and CCJs

CCJs are County Court Judgements. Lenders can issue CCJs if they think that you won’t be able to pay back what you owe them.

Declaring bankruptcy or having a CCJ against you will lower your credit score for a number of years, ranging from six to ten depending on the severity of the problem.

How long does negative information remain on a credit report?

After around 12 months, hard credit checks will move off your credit report.

However, serious issues like debt foreclosures and collections, delinquency, or bankruptcy can remain on your report for anywhere from six to up to ten years.

Secure speedy car finance with My Car Credit

If you’re looking for quick car finance that won’t take months to secure, My Car Credit can help. Our initial soft credit check takes mere minutes to perform, putting you in the driver’s seat as quickly as possible. Be aware however that should you progress, some lenders may perform a hard search on your credit file.

Begin your car finance journey today by trying our car finance calculator.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Understanding How Far Back Lenders Look into Your Credit History

Tips for Car Finance Recovery After a CCJ

How to Strengthen Your Eligibility for Car Finance

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 financing credit rating credit score Jan24

Power Up: 5 Types of Hybrid Cars

Hybrid cars are quickly becoming the top choice for Brits who want to combine performance with planet-friendly transport. And let’s be honest, savings at the pump are a huge bonus. But with so many types of hybrid cars to choose from, how do you know which one’s for you?

Keep reading for a rundown of the different types of hybrid cars available in the UK and what each one brings to the table.

What is a hybrid car?

Let’s start with the basics. A hybrid car isn’t just another vehicle on the road. It has a dual personality and combines a traditional combustion petrol engine with an electric motor.

Hybrids can run on the petrol engine alone, the electric motor alone or a combination of both. This versatility is what makes hybrids so appealing. For example, a hybrid will draw on electric power when you’re nipping out to the shops and kick into petrol-powered mode for longer trips.

Now let’s get more specific about the different types of hybrid cars:

1. Mild Hybrid (MHEV)

Mild hybrids are an entry-level option and feature a small electric motor that gives the petrol engine a bit of extra muscle. They won’t run on electric power alone, but they do a great job at improving fuel economy, especially in start-stop traffic. This makes MHEVs terrific little city commuters.

Top pick: Ford Puma EcoBoost Hybrid

Of all the MHEVs available in the UK the Ford Puma is a firm favourite. This nifty mild hybrid SUV pairs a 48-volt battery with a 1.0-litre EcoBoost engine to keep you moving along while using less fuel.

Athletic silhouette
Driver focused technology
Smart interior styling
Megabox for extra boot storage

2. Full Hybrid (HEV)

Step things up a notch with a full hybrid. These cars can run on just the petrol engine, just the electric motor or both at the same time. They’re good for city driving as the electric motor takes over completely at low speeds to slash your fuel use and emissions.

Top pick: Kia Sportage Hybrid Electric

Spacious and modern, the Kia Sportage Hybrid Electric is a top-selling HEV. Infotainment is a highlight, with a pair of huge 12.3-inch displays used to run the company’s industry-leading tech suite. Enjoy Android Auto, Apple CarPlay and sat-nav as standard.

6 turbocharged petrol engine
All wheel drive or 2WD
6-speed automatic transmission
Plucky 1.49 kWh battery

Looking for something a bit more upmarket? The Hyundai Tucson is comparable to the Kia Sportage but comes with a slightly higher starting price. Of course, that buys you some nice extras like Hyundai Digital Key technology so you can lock and unlock the car with your smartphone.

3. Plug-in Hybrid (PHEV)

PHEVs are one of the best types of hybrid cars if you want more electric range but don’t want to commit to an EV. With a bigger battery that can be charged externally, they offer extended electric-only driving and mean you can say goodbye to range anxiety. When the battery runs low, the petrol engine steps in to keep you rolling.

Top pick: Mitsubishi Outlander PHEV

The Mitsubishi Outlander PHEV gives you serious options. Unlock up to 28 miles of electric-only driving and use the petrol engine when you need to go further.

Combined range of over 400 miles

Whether you’re running urban errands or planning a long-distance road trip, the Outlander is up for the task. Craving adventure? High ground clearance and a spacious boot make the Outlander terrific for mud-splattered adventures.

4. Range-Extended Hybrid

Not quite ready to go full electric? A Range-Extended Hybrid could be the answer. These cars have a larger battery and a small petrol engine that acts as a generator when power is running low. It’s a clever way to reap the benefits of electric driving without the worry of running out of juice.

Top pick: Mazda MX-30 R-EV

With a classy silhouette, fun handling and outstanding range, it’s no wonder the Mazda MX-30 R-EV was voted Best Plug-In Hybrid of the Year at the 2024 What Car? Awards.

53 miles of pure electric range
More than 400 miles of combined range

What makes the Mazda MX-30 R-EV one of the best types of hybrid cars? Under the hood is a lightweight Rotary engine that acts as an onboard generator to recharge the battery when it runs low—the perfect compromise for motorists who want to go green without sacrificing range or convenience.

5. Hybrid SUV

Hybrid SUVs are brilliant if you need something with a bit more space and power but don’t want to drive a gas guzzler. The result? A car that’s perfect for everyday errands, longer trips and even a bit of off-roading.

Top Pick: Volvo XC90 T8

The Volvo XC90 T8 is a top pick for those who want luxury, space and eco-friendly driving in one package. With up to 31 miles of electric-only range and a total power output of 407 horsepower, it’s as gutsy as it is green.

The interior is Scandinavian to a T – clean lines, high-quality materials and

Finance a hybrid with My Car Credit

Whatever your motivation, whether it’s to save on fuel, do your bit for the environment or enjoy a whisper-quiet ride, there are types of hybrid cars out there for everyone. At My Car Credit, we’re here to help you find your perfect match with tailored car finance solutions for best-selling hybrids like the BMW 330e, Mercedes-Benz C 300 e, Kia Sorento, Dacia Jogger, Honda Civic, Skoda Octavia Estate and Toyota C-HR.

Thinking about going full electric? We can help with that too with finance for models like the Tesla Model 3 and Volkswagen ID 7. Use our car finance calculator to get started and find out more about how we can help make your next car a little kinder to the planet and your wallet.

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

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 electric Ford HEV Hybrid Jan24 Kia mazda MHEV Mitsubishi Outlander PHEV puma sportage volvo

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

How Much Does Car Finance Cost? Check Now!

8 Benefits of Getting an Electric Car on Finance

Check for car finance without affecting your credit score

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

How to Get a Car Finance Quote Online

Man with headphones getting a car finance quote online

Gone are the days when prospective buyers had to visit brick-and-mortar car dealerships to secure a car finance quote.

It’s easier than ever to find a car finance quote online that works for your unique needs and circumstances. Read on to find out how to find an online car finance quote and discover the variables you need to consider when shopping around.

How to get a car finance quote online in three steps

With My Car Credit, finding a car finance quote online can be done in three easy steps:

1. Complete an application

Use our car finance application to crunch the numbers on your next set of wheels.

We’ll ask you to enter details like your loan amount, repayment term, and credit rating, as well as providing some personal information. From there, we’ll give you an instant breakdown of your expected monthly repayments, along with the typical rate and total payable. You’ll receive a no-obligation quote in mere minutes, benefitting from an instant online decision based on the information you give us.

If you’re happy with your rate, you can hit ‘apply now’ to complete your application. With us, the rate you see is the rate you get – it’s inclusive of all fees and costs, so you won’t face any nasty surprises down the road.

Plus, our initial credit check is only ever a soft search, so it won’t impact your credit score. However please note that should you progress, some lenders may perform a hard search on your credit file.

2. Go car shopping

If you choose to advance your application, you’ll be assigned a Car Credit Specialist. Our team are friendly, experienced professionals, and they’ll be on hand to answer any concerns or queries you might have throughout the process.

Now you’ve got a sense of your budget, you can crack on with the fun part – shopping for a car! If you’re looking for advice, your assigned Car Credit Specialist will be able to help you find a perfect car from one of our trusted dealers. Alternatively, let us know if you’ve found a vehicle, and we’ll check the dealer is top notch.

3. Get behind the wheel

You sign all documents from the comfort of your own home, and we’ll coordinate any last-minute liaison between the dealer and lender. Once all parties are happy, funds are typically transferred to your dealer the next working day. You can then collect your car keys and take to the road in your new to you, or used vehicle.

Factors to consider when searching for a car finance quote online

With My Car Credit, securing a car finance quote online is a stress-free process achieved in three easy steps. That said, there are a number of things to keep in mind when you’re shopping around for a quote.

Type of finance agreement

The right kind of car finance agreement for one driver might not be the best agreement for another. Understanding the difference between alternative car finance agreements means you’re more likely to find one that accommodates your unique needs and circumstances.

At My Car Credit, we appreciate that no two drivers are the same. Some motorists may want to pay a sizeable deposit to lower their overall monthly repayments. Alternatively, other drivers may want to pay back more affordable monthly instalments and have the option of returning the car at the agreement’s end.

We pride ourselves on the flexibility, accessibility, and affordability of our car finance agreements, and can help you find the right deal for your priorities.

Terms of finance agreement

It’s worth paying attention to the terms of a finance agreement in order to establish the right one for you.

Drivers looking to own their car at the end of their finance agreement might not benefit from the same terms as drivers looking to hand the vehicle back. Equally, whilst some motorists are happy facing mileage limitations, others need the flexibility of minimal restrictions.

Determine your priorities before shopping around for your car loan quote online to ensure you secure the best finance agreement for your needs.

Credit checks

If you’re a driver with a less-than-perfect credit score, you may feel like car finance won’t be made available to you.

In fact, My Car Credit offers poor credit car finance designed specifically for applicants with less-than-ideal credit ratings.

We consider all circumstances and will look at each case individually and without judgement. Our initial credit check is also only a soft search, but please note that should you progress, some lenders may perform a hard search on your credit file.

Plus, because we combine a wide panel of trusted lenders with a sensible approach, we’ll help you find the most appropriate car finance lender for your circumstances. As such, we may be able to approve you for car finance where others haven’t.

What’s more, by making your monthly repayments in full and according to schedule, you’ll be building up your overall credit rating. This could potentially make you a more attractive candidate for future loans.

Securing a vehicle and finance agreement in one

If you’re a fan of multi-tasking, you may want to secure both your car and online car finance quote in one.

My Car Credit has established excellent relationships with a large number of reputable car dealers across the UK. We’ve got a reliable pool of trusted dealers who can help you source your next used car and car finance agreement in one go!

Get a car finance quote online with My Car Credit

With the largest panel of car finance lenders out of any UK broker, My Car Credit will help you get a car finance quote online that works for your needs and circumstances.

Use our online car finance calculator to kickstart your application today.

Rates from 9.9% APR. Representative APR 10.9%

Evolution Funding Ltd T/A My Car Credit

Can I Finance an Automatic Car?

Can You Modify a Car on HP Finance?

What Happens if I Can’t Pay My Balloon Payment?

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 calculator car finance options car loan Jan24 online quote

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.

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