Car finance eligibility checker
Check your loan eligibility

How car finance eligibility checker works

We know our customers lead busy lives, which means they need a service that gets straight to the point. Our car finance eligibility checker is easy to use and guides you through the process step-by-step.

First of all, we’ll need to know how much you want to borrow. It’s absolutely fine if you’re not sure of the exact amount at this stage, as that can be finalised later on. But providing a rough estimate will allow us to tell if you can secure a car finance deal. You will have the opportunity to borrow anywhere between £4,000 and £40,000, but the more accurate you can be, the easier it is for us to match you against the right lenders.

Will I be eligible for car finance?

We know that some people want to ensure they are eligible for car finance before making a full application, which is why we created our easy-to-use eligibility checker. Our panel of lenders have a fantastic range of deals and repayment plans available to you, no matter what type of finance you’re looking for:

• Bad credit car finance
• No deposit car finance
• Negative equity
• CCJ
• Car finance on benefits

We do a ‘no credit check’ or a ‘soft search’ to check for eligibility

There are two different types of credit history checks: a hard credit search and a soft search credit check, and you might want to know which one will be conducted before you apply for car finance. If a lender conducts a hard search check of your credit history, it will be reflected on your credit report, no matter if you receive the finance or not.

There is no need for you to be worried as lenders are unable to see whether you’ve applied for any type of finance before. This makes car finance without a credit check way easier and less stressful than a hard credit search.

At Carplus, we conduct a ‘soft credit search’, also known as a ‘quotation search’, which takes place before passing your application on to any lender for formal approval. This initial search establishes key information such as your monthly income, outgoing expenditure, employment circumstances and any current credit commitments. We do this to significantly reduce the risk of your application being rejected by a lender, which could adversely affect your credit rating.

The Financial Conduct Authority (FCA) requires that, should you wish to continue following this soft credit check, a formal credit check be performed by lenders to evaluate the likelihood of you repaying your loan on time. A credit check reveals your history of loan repayments and lines of credit to prospective lenders, and they use it to decide whether to accept your application for a loan.

Your employment and income are important for your eligibility

It should come as no surprise that your employment status and monthly income are two of the most significant factors when considering your eligibility for car finance.

We help those who are:

• Students
• Retired
• Self-employed
• Full-time employed
• Part-time or agency workers
• Taxi drivers

We have a range of loans to meet almost any financial situation, and while we cannot guarantee the success of any application, we can promise you the best chances of receiving car finance.

Why use our eligibility checker?

There are several reasons why our customers prefer using our eligibility checker to find out if they can get a car loan. Besides being very easy to use, the checker has the following benefits:

• It’s 100% free
• You get the results within a few minutes
• We conduct a soft search credit check which means that the search will not be reflected in your credit history
• Constant support is available to each and every customer

Can I get car finance?

While we cannot guarantee you will be eligible for car finance, we do all we can to ensure you have the best possible chance. Our loans range from £2,000 to £50,000, and our repayment time ranges from 18 to 60 months. Our panel of lenders consider the following criteria when making their offers:

• The price of the car you want to buy
• The size of the deposit you can put down, or the value of any vehicle offered in part exchange — the larger the deposit, the less you need to borrow and typically, the cheaper your loan
• The type of car — whether it is new or second hand, and if the latter, the age of the vehicle
• Your age
• Your current employment status
• Your average monthly income
• The affordability of your loan — i.e. how plausible it is for you to meet repayments based on your income and other financial commitments
• Your creditworthiness — based on the findings of your credit check

Carplus provides car finance deals to people of all age groups and employment backgrounds. From students and part-time workers to full-time professionals and retirees, our panel of lenders has something to suit you. Our experts will answer all of your questions and provide you with the necessary information regarding car finance.