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Check eligibility with no impact on credit score
We are a credit broker, not a lender.Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status. Representative example: borrowing £7,000 over 5 years with a representative APR of 21.9%, the annual interest rate of 21.9% (Fixed) and a deposit of £0, the amount payable would be £185.33 per month, with a total cost of credit of£4,119.81 and a total amount payable of £11,119.81. We look to find the best rate from our panel of lenders and will offer you the best deal that you're eligible for. We receive a fixed fee commission per finance agreement, or we receive a commission based on a percentage of the total amount of finance taken. This will not affect the interest rate offered or the total amount repayable. Our service is free.
With millions of people in the UK receiving benefits, we assure you that car finance on benefits is indeed possible. At Moneyrepublic, we are dedicated to helping you unlock the path to affordable car ownership. We are here to help you secure car finance while on benefits.
Our network of approved dealers across the UK offers a wide selection of quality used cars, allowing you to choose the vehicle that suits your needs.How it works?
Apply for your loan
To apply for your car finance to borrow money, decide on the amount you need and the loan term. Our lenders will assess your application and provide feedback promptly.
Apply nowReceive the money
If your application is approved, and you get a car finance quote, the funds will be deposited into your account the same day. Use the money towards your car purchase or other expenses.
Pay it back over time
Repay the loan through manageable monthly payments over 1 to 5 years, covering the borrowed amount and interest. Start your application now to access the finance you need for your next car or personal requirements. Apply today for a swift and straightforward process.
Our Lenders
We work with over 15 lenders offering 100+ HP and PCP deals so that you could have the best offer.
Car finance calculator
- 36months
- 42months
- 48months
- 60months
This helps you get a more accurate finance estimate
Not sure about being approved?
Check finance eligibilityWon't affect your credit score
We are a credit broker not a lenderThese estimates are subject to credit checks, and may change if you do apply for finance.
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| Loan amount | £7,500.00 |
|---|---|
| Length of Loan | 60 months |
| Monthly payment | £0 |
| Interest rate | 14.9% APR |
| Optional final payment | £0 |
| Amount of interest | £0 |
| Total payment | £0 |
Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.Representative example: borrowing £7,000 over 5 years with a representative APR of 21.9%, the annual interest rate of 21.9% (Fixed) and a deposit of £0, the amount payable would be £185.33 per month, with a total cost of credit of£4,119.81 and a total amount payable of £11,119.81. We look to find the best rate from our panel of lenders and will offer you the best deal that you're eligible for. We receive a fixed fee commission per finance agreement, or we receive a commission based on a percentage of the total amount of finance taken. This will not affect the interest rate offered or the total amount repayable. Our service is free.
Can you get car finance on benefits?
Yes, you can get car finance on benefits with our panel of lenders. With 22.4 million people in the UK claiming benefits as of August 2022, you're not alone. Financial situations or credit history shouldn't be barriers to car ownership. We offer car finance to a broad range of individuals, including those receiving disability allowance, carers, and personal independence payment beneficiaries.
At Moneyrepublic, we ensure that everyone, regardless of credit history or life's complexities, has the opportunity to get car finance on benefits. We assist those with bad credit, no guarantor, or disability allowances, making car ownership accessible to all.
What do you need to apply for car finance with benefits
| To apply for car finance you need to | Requirements |
|---|---|
| Your name | Be aged 18-75 years old |
| Date of birth and nationality | Requires initial deposit |
| Your recent address history | Receive a monthly income of £1,000 or above |
| Tour employment status | |
| Your income and expenses | |
Can you pay for car finance with benefits?
Absolutely! We understand that when you're on benefits, managing your finances is essential. That's why we have tailored options to help you comfortably pay for your car finance through your benefits.
| Disability Living Allowance (DLA) | Carers Allowance (CA) | Personal Independence Payment (PIP) |
|---|---|---|
| Universal Credit | Employment and Support Allowance (ESA) | Child Tax Credits |
| Working Tax Credits | Child maintenance payments | Housing Benefit |
| Child Benefit | Guardian’s Allowance | Industrial Injuries Disablement Benefit |
| Bereavement Support Payment | Attendance Allowance | Constant Attendance Allowance |
| Armed Forces Independence Allowance | War Widow’s Pensions | Reduced Earnings Allowance |
Our goal is to make the process of getting car finance for someone on benefits as straightforward and worry-free as possible.
How does car finance for people on benefits work?
Getting car finance on benefits is straightforward with Moneyrepublic. Our user-friendly website allows you to start your application with just a few clicks. Our experienced team will guide you through each step, helping you select the right car and finance deal for your needs.
Apply for car finance on benefits
Looking for a car finance for someone on benefits to buy a car of your dream? See if a car loan could be an option for you.
Learn more & applyBad credit car finance on benefits: Is it possible?
At Moneyrepublic, we consider your unique circumstances. Even with a less-than-perfect credit history, our team will work with you. Bad credit doesn't have to block your car finance with benefits.
We specialise in car finance on benefits, even for those rejected by mainstream lenders or facing challenges like CCJs or IVAs. Our process is designed for your convenience. Use our user-friendly car finance calculator to glimpse your potential car loan. If it meets your expectations, submit an online application for a quote. We promptly evaluate your eligibility.
At Moneyrepublic, we believe car finance on benefits is within your grasp, regardless of past financial hurdles. Our network of reliable lenders offers tailored solutions for individuals with bad credit who are on benefits. Your unique situation is our priority, and we make exploring the possibilities as easy as requesting a quote.
What will affect your eligibility for car finance on benefits?
Obtaining car finance while on benefits is possible, but several crucial factors can influence your eligibility. At Moneyrepublic, we are dedicated to helping you buy a car on benefits. Here are the key variables to consider:
- Late Repayments: Falling behind on repayments for other credit agreements can affect your chances. Ensure you make timely payments to demonstrate financial responsibility.
- Having an IVA (Individual Voluntary Agreement): If you currently have an IVA, we cannot assist you. However, if you've settled a previous IVA, it won't impact your eligibility.
- Bankruptcy: Current bankruptcies will not be approved. If your bankruptcy has been discharged, you can apply.
- Having a CCJ (County Court Judgment): An outstanding CCJ does not necessarily disqualify you. Each application is reviewed individually.
- Unemployment: We offer options for the unemployed, but you must receive DLA (Disability Living Allowance) or PIP (Personal Independence Payment).
- Income: Your income is a primary factor. Lower income from benefits may affect your ability to qualify for certain types of car finance.
- Credit Score: A poor credit score can make approval challenging and may lead to higher interest rates. Moneyrepublic conducts a "soft" credit check, which doesn't impact your credit rating.
- Employment Status: While benefits don't disqualify you, some lenders may prefer stable income from full-time employment.
- Expenses: Lenders consider your expenses. Significant debts or expenses can affect your ability to make car finance payments.
- Join the electoral roll: Registering on the electoral roll can enhance your creditworthiness by verifying your address.
- Improve your credit score: Work on repairing your credit history by managing existing debts and making payments on time.
- Joint loan application: Applying for car finance with a co-applicant can increase your chances of approval, as their creditworthiness may strengthen your application.
- Guarantor car finance: Consider having a guarantor with a strong credit history co-sign your car finance agreement, providing extra security to lenders.
- Black box car finance: Opting for pay-as-you-go car finance arrangements can be a more flexible and accessible option.
- Borrow a Smaller Amount: Requesting a smaller loan amount may make your application more manageable and increase the likelihood of approval.
Moneyrepublic is committed to providing car finance for people on benefits. We understand financial situations vary. Explore your options and take the first step toward securing the car finance you need. For more information on managing your finances, dealing with debt, or improving your credit rating, visit our guides section for valuable insights and tips.
How can I increase my chance of approval for car finance on benefits?
To boost your chances of car finance approval:
- Late Repayments: Falling behind on repayments for other credit agreements can affect your chances. Ensure you make timely payments to demonstrate financial responsibility.
- Having an IVA (Individual Voluntary Agreement): If you currently have an IVA, we cannot assist you. However, if you've settled a previous IVA, it won't impact your eligibility.
- Bankruptcy: Current bankruptcies will not be approved. If your bankruptcy has been discharged, you can apply.
- Having a CCJ (County Court Judgment): An outstanding CCJ does not necessarily disqualify you. Each application is reviewed individually.
- Unemployment: We offer options for the unemployed, but you must receive DLA (Disability Living Allowance) or PIP (Personal Independence Payment).
- Income: Your income is a primary factor. Lower income from benefits may affect your ability to qualify for certain types of car finance.
- Credit Score: A poor credit score can make approval challenging and may lead to higher interest rates. Moneyrepublic conducts a "soft" credit check, which doesn't impact your credit rating.
- Employment Status: While benefits don't disqualify you, some lenders may prefer stable income from full-time employment.
- Expenses: Lenders consider your expenses. Significant debts or expenses can affect your ability to make car finance payments.
- Join the electoral roll: Registering on the electoral roll can enhance your creditworthiness by verifying your address.
- Improve your credit score: Work on repairing your credit history by managing existing debts and making payments on time.
- Joint loan application: Applying for car finance with a co-applicant can increase your chances of approval, as their creditworthiness may strengthen your application.
- Guarantor car finance: Consider having a guarantor with a strong credit history co-sign your car finance agreement, providing extra security to lenders.
- Black box car finance: Opting for pay-as-you-go car finance arrangements can be a more flexible and accessible option.
- Borrow a Smaller Amount: Requesting a smaller loan amount may make your application more manageable and increase the likelihood of approval.
Meet our car finance lenders
We work with over 15 lenders offering 100+ HP and PCP deals so that you could have the best offer.
FAQ's
- Do benefits count as income for car finance?Yes, benefits can be considered part of your income when applying for car finance. Many providers, including Moneyrepublic, take benefits into account when assessing your eligibility, understanding that these payments can be a stable source of income.
- Do we offer guaranteed car finance on benefits?We do not offer guaranteed car finance, but we provide options for people on benefits. Your eligibility depends on various factors, and we consider applications individually, taking into account your unique circumstances and financial situation.
- Can you get car finance on Universal Credit?Yes, you can secure car finance while receiving Universal Credit. Moneyrepublic and many other lenders consider Universal Credit when assessing your eligibility, making car finance accessible to those on this benefit.
- Can I get car finance on PIP?Yes, you can get car finance while receiving Personal Independence Payment (PIP). Moneyrepublic and other lenders often consider PIP as part of your income when evaluating your eligibility for car finance.
- Can I apply for car finance with low income?Yes, you can apply for car finance with a low income. Lenders, including Moneyrepublic, understand that income levels vary. They assess applications individually, considering your unique financial situation and ability to make repayments.
- Can I get car finance on disability benefits?Yes, you can obtain car finance while on disability benefits. Lenders, including Moneyrepublic, often consider disability benefits as part of your income when determining your eligibility, making car finance accessible to those on disability benefits.