Can you get pcp with bad credit

There's nothing worse than falling in love with your dream used car or used van and then being turned down because you've got bad credit. However, if you've got a poor credit rating or bad credit, buying a used car or van needn't be out of reach. There are a whole host of different finance options available which have been designed specifically to help those with less than perfect credit scores.

Being classified as having bad credit basically means that you have a low credit score and are considered as a risk to a potential lender. You can find out your credit score by checking your credit report online. If you have a low score, this generally indicates that you have struggled to repay your debts in the past, or you have missed payments.

As a result, lenders are reluctant to approve credit as they assume that you will not be a reliable borrower. Of course, there are lot of ways to improve your credit score before looking to buy a used car or van.

More on balloon payments in our FAQs below. Hand the keys back — once the monthly payments stop, you can return the car to the lender and walk away.

Get a quote No impact on your credit score. Is PCP finance right for you? You can possibly look at a better car — more modern, fuel efficient, safer, for example — sooner than you might otherwise be able to afford.

Monthly payments are usually lower than hire purchase. You have the option to buy the car at the end of the agreement. If your car is worth more than expected, you can use the difference to go towards a deposit on your next vehicle. Exceeding the agreed annual mileage limit may mean a financial penalty. If you are unable to make your monthly payments during the term, you may have to return the car. Your car must be kept in good condition to avoid damage fees. What you can afford — work out how much you can afford to borrow and consider other costs , such as fuel, insurance and tax.

Mileage — your deal will probably have a mileage limit. In a lot of cases, this can be unavoidable, but if something like a joint bank account is your only tie to that person and you no longer need it or could get by without it, formerly disassociating yourself might improve your credit rating. The higher the deposit, the lower the amount of money the finance company has to lend you, which lowers their risk. For all the latest reviews, advice and new car deals, sign up to the What Car?

Before you buy, visit What Car? We have discounted deals on most new cars on sale, so you're never far away from finding a new car deal in your area. It's all based on Target Price , which is the price we think you should pay based on research by our team of mystery shoppers, and the best discounts they can achieve.

Plug-in hybrids can reduce fuel consumption to an absolute minimum, but which models are the best all-rounders and which should you avoid? Both of these cars show that large SUVs don't have to be expensive to run. What Car? View all new car reviews. A poor credit history can seriously affect your chances of getting car finance. Our rates start from 6.

The rate you are offered will depend on your individual circumstances. BuyaCar team Sep 20, Search car leasing deals. Search used car deals. Cars available with PCP finance. Search all car deals. See related. Buying a car on finance. Subprime car finance. Read more about: PCP. Latest advice.