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Benefits Car Finance

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Group of people standing together making an image of a car for benefit loansGroup of people standing together making an image of a car for benefit loans

Are you currently receiving a benefits only income? Looking for car loans but declined elsewhere?

Look no further, at The Car Loan Centre we can offer loans for people on benefits as we are a specialist lender! Apply now or request a callback!

What is Bad Credit Car Finance on Benefits?

A happy couple with their child, speaking with a salesperson about benefits car finance

If you have been looking to get a car on benefits, you may have found it difficult to find lenders who are willing to do so. If you only receive a benefits income, you may struggle to get approved for many forms of loans due to most of your income being received through benefit payments. Here at The Car Loan Centre, we work differently to other lenders by considering your full financial situation rather than just your benefits income. Where other lenders rely heavily on what a credit check finds, we focus on what you can actually afford to pay. That’s why getting benefit car finance is possible through us.

How Will I Get Car Finance on Benefits?

The process is simple and you can either apply now to get a fast track decision or request a callbackrequest a callback to speak to one of our friendly team. Either way, we can start looking at what we can do for you with our benefit loans. To be eligible, you will need to meet the following requirements:

  • Be 18 years old or above
  • Have a regular source of income (Including Benefits or Universal Credit)
  • Have proof of ID
  • Have proof of address
  • Have your last 3 months bank statements

These are the minimum requirements to apply for benefit car loans with us, although additional information may be needed during your application. Every applicant is different, but that’s why we look at your affordability as a whole to decide how much we can lend and the terms we can offer. As specialists in benefit car finance, we really could help you.

We have our own stock of high-quality vehicles!

Cartoon Small Car

Little Run-arounds

Vehicles for your everyday needs from commuting to work, popping down the shops or even as your first car.

Cartoon 4 by 4 Car

Vehicles for the Family

Cars that become a member of the family doing the daily school runs, day trips across country and chauffeuring around the kids.

Cartoon Sports Car

Premium Cars

Cars that are more than just a machine but your pride and joy, a spectacle of design and engineering.

So, if you wish to apply to purchase a new car with our benefit car finance, simply request a callbackrequest a callback or apply for fast track finance, where we’ll give you an immediate agreement in principle.

What are the Types of Benefit Loans Available?

As well as benefit loans for a new car, we also provide Logbook Loans for a cash loan secured against a vehicle you currently have. Whether you need to get a car on benefits or looking for a cash loan, we have the expertise and willingness to help you where other lenders can’t.

If you have further questions about our benefit loans or you would like to speak to one of our experts about benefit car finance, request a callbackrequest a callback today. For common questions we receive, please take a look at our FAQs. Also, if you’re confused by any of the terms you see here or through the website, browse our handy Jargon Buster for a breakdown of many common terms we use.

Benefits Car Financ FAQs...

Yes, you really can! If you’ve been used to getting turned away by other lenders, it is understandable you may not believe it, but we are proud to be one of only a few lenders that can help. Loans for people on benefits can mean being restricted to the limited terms on offer. With us, if we can see you can afford a car on benefits, we are happy to consider your application.

No lender can 100% guarantee a loan, as many factors are needed to be considered to do so. If you do find any lenders online offering guaranteed benefit loans, you should be wary of this. Although we cannot ‘guarantee’ your application will be approved for benefit car finance, we can guarantee that we won’t turn you away for having benefits income or bad credit. Our commitment to our customers is that we will consider your application based on what you can afford in the here and now, not based on what your credit history shows.

No matter what has happened in your financial past, we understand that you may find it difficult to get the finance you require with many lenders. If you currently receive benefits and have had IVAs, arrears or defaults in the past, we could still help you. We do not base our decisions on your credit score*, so as long as you can prove what you can afford through bank statements over the last few months, we can definitely consider benefit loans for you.

Yes, our specialist car finance is for purchase of a vehicle from our own stock. Our Logbook Loans are an ideal alternative if you need a cash loan and already have a vehicle you can use to secure it. Whether you require funds for emergency repair work, home improvements, a dream holiday, or anything in between; a logbook loan can help.

If you’re looking for benefits car finance see how we can help today!

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The Car Loan Centre is a trading style of The Asset Exchange Ltd. The Asset Exchange Ltd is authorised and regulated by the Financial Conduct Authority, firm reference 729827. Registered Address: The Car Loan Centre, 77 Wollaston Way, Burnt Mills Industrial Estate, Basildon, Essex, SS13 1DJ, registered company no: 08679485.

We are a lender, and not a broker, and operate with a flat interest rate for all customers. We pay our sales team a flat rate of commission for vehicles sold, and this does not affect the terms of your agreement, nor is it affected by your choice of vehicle or the terms of your finance. We may receive commission from other third parties as a fixed fee or fixed % of commission to us for introducing you to their services with your consent. If you elect to purchase one of these 3rd party products/services we may pay our sales person an additional commission for this, For example if you choose to take an extended warranty. If you would like a breakdown of all third parties who may pay us a commission in certain circumstances this can be provided on request.