Getting Car Finance Whilst on a Benefit-Only Income
Whether you want to be more flexible for work opportunities, be able to visit friends or do the weekly shop with ease, having a car makes everything easier in today’s society. Unfortunately, for those on a benefit only income, finding a good car finance deal can be difficult.
If you are receiving benefits, you might find that there are a limited number of finance providers who will accept your application for car finance. This can put you in a stressful situation but luckily, we’re here to help.
At Albion Car Finance, we accept car finance applicants of all financial situations no matter your credit score or whether you’ve been refused car finance in the past. In just 3 simple steps, we can offer you a great car finance deal on a car of your choice.
How Can I Get Car Finance if I’m On Benefits?
If you’re looking for car finance whilst on benefits, the first step is to find a car finance company who accepts applicants with a low credit score. Being on benefits can affect your credit rating, which can make securing car finance difficult. With the right car finance company, however, you can secure a great deal that suits your budget.
At Albion Car Finance, we work with a panel of lenders who are empathetic to all financial situations, including ones that might result in a poor credit score. Whether you need Disability Allowance (DLA) or live off Income Support, we can work with one of our many lenders to find a finance solution that works for you.
And if you do have a bad credit history, getting car finance is a great opportunity to improve your credit score. Making your monthly repayments on time will have a positive effect on your credit rating, which will make securing loans in the future even easier.
To apply for car finance, all you need to do is complete our online application. This application process is easy; in just 3 simple steps we can get you out on the road in the car of your choice:
1. First, you’ll need to provide proof of income, which can come in the form of bank statements or tax statements.
2. Second is proof of address, such as a lease agreement or a recent utility bill.
3. The third and final step is a valid driver’s license; you wouldn’t be able to drive off with a new car the same day without one anyway!
When we’ve processed your application we’ll quickly be able to get to the exciting part; choosing your new car and driving away in the same day!
Choosing Your Car
We have well over 100 cars available for hire purchase, with every single one of them being HPI Checked, MOT certified and independently inspected. After you’ve chosen your vehicle, we’ll arrange monthly payments that suit your budget. Once you’ve paid off the total amount of the car, you’ll have the option to claim ownership or alternatively, you can switch to pay finance on a different vehicle.
What Forms of Benefits Do We Accept?
At Albion Car Finance, we aim to offer our services to anyone who may need them, and our host of lenders are more than happy to help with many different types of benefits. We can provide car finance for those on benefits including, but not limited to:
- Income Support
- Child Tax Credits
- Working Tax Credits
- Disability Allowance (DLA)
- Carer’s Allowance
- Personal Independent Payment (PIP)
Of course, if you receive aid from any other form of benefits that aren’t listed, then there’s still the possibility that we can help you. Filling out our online application form gives you the chance to tell us what form of benefit you receive, and we’re always more than happy to discuss your application and/or circumstances directly.
Get in Touch
Don’t let your financial situation prevent you from getting a great car finance deal. To get in touch with any questions or queries about our bad credit car finance services, you can reach us by calling our company number: 01923 826 137 or sending us an email us via our contact form.