The Car Loan Centre

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Declined Car Finance

Couple sitting on sofa with paperwork and laptop looking concerned after being declined car finance

Declined Car Finance

Here at The Car Loan Centre, if you have been declined car finance with other lenders, we can help arrange affordable car finance based on your circumstances. As car finance specialists for customers who have bad or poor credit and have been declined car loans previously, you won’t find any automated, computer-generated decisions using your credit score here. We assess every application individually and ensure that our decision making is based on your current affordability, rather than your credit history. If you want to find out if we can help you with finance on a vehicle from our huge range of cars , even if you have been declined elsewhere recently, click apply now or request a callbackrequest a callback to speak to one of our experienced team today.

Family who have previously been declined car finance are in a showroom next to an open car they could be approved for

Been Declined Car Loans Elsewhere? We Can Help

Our approach to car financing is different to many lenders you’ll find on the market today when looking to purchase a new car and spread the cost. There are many reasons for car finance to be declined, but as we specialise in helping customers who have poor or bad credit, we can say YES where you may have been declined car loans elsewhere. We do this by taking a human approach to the way we make our lending decisions, ensuring that if we offer car finance to you, it’s based on what you can afford to pay rather than what your credit history tells us. This is what sets us apart from many other car finance lenders on the market.

Family who have previously been declined car finance are in a showroom next to an open car they could be approved for

We understand it can be frustrating to be declined car finance even though you can afford to pay back the loan at the term you want. As many lenders rely on an automated process to filter through applications, you may have been refused before your situation has been properly assessed and have car finance declined due to affordability not being considered.

Reasons for Car Finance to be Declined

Reasons for car finance to be declined can vary between not having the credit score minimum a lender requires, or even if you have had a history of arrears, CCJs, or defaults against you in the past. Whilst everyone strives to have a good credit score, this can take time if you are starting from a low score in the first place and won’t necessarily reflect your affordability at present. Our team here at The Car Loan Centre can ensure your application won’t just be turned down due to your past or present credit difficulties. If you have had car finance declined due to affordability, it’s because your current situation shows you may struggle to make repayments. That’s why we take the time to assess your income and expenditure and offer terms to match your personal situation. Click apply now and see what we can do for you.

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Declined Car Finance – How Does it Work?

We’ve made applying if you have been declined car finance elsewhere really simple so that you can find out quickly if you’ve been approved and get the car you want as soon as possible. We treat all our customers the same when it comes to the application, whether you have been recently declined car loans or not. This is to ensure fairness in our decision making and creates a streamlined application for our customers. You will need to meet a few eligibility requirements first:

  • You are at least 18 years old
  • Hold a valid UK/EU Driving Licence
  • Are a current UK resident
  • Either employed, self-employed or have benefits income
  • Not currently bankrupt

If you can meet the above minimum requirements, we’ll be happy to go through an application today and see how we can help. There are two ways you can do this; either click apply now to go through a fast track application, or you can fill in your details to request a callbackrequest a callback from our team.

Get a Decision in Principle

We can provide you with a decision in principle and you will be able to select the vehicle you wish to finance from our great range. We have 100s of vehicles to choose from so you will be able to find the ideal one to meet your needs; whether it’s a compact hatchback or something larger for the family. If the assessment of your affordability and credit check are successful, we will be able to arrange a date for delivery or you can collect your car from one of our centres, signing all the final documents to complete your purchase and drive away satisfied in your new car!

As part of your application, we will require you to provide us with proof of ID, proof of address and at least the last 3 months of bank statements. This is so we can confirm your identity as part of our underwriting process and help us to determine your full affordability. As we go beyond just relying on your credit history, we will need this information from you to provide the basis of our approval which separates us from other lenders that may have declined car finance for you previously.

As well as our specialist car finance, we also offer logbook loans that are a great way to get the finance you want if you already have a vehicle. When you’ve been declined a cash loan based on your credit rating, we can help by letting you use your current vehicle as a guarantee for a loan. We can then determine the value of your vehicle and offer finance up to a certain value against it, with affordable repayments. We can even help you get a loan if you have a history of CCJs and Defaults, thanks to our specialist finance options.

Yes, we can still help in this situation. As long as you are not currently bankrupt or about to go into bankruptcy proceedings, we are happy to consider your application.

Unfortunately not, you will need to provide a full valid UK/EU Driving Licence to be considered for finance through us. We do however accept joint applications, so if at least one applicant has a full valid Driving Licence then we can look to help.

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But Why Wait?

Our new FAST TRACK  form gives you an Agreement in Principle* Immediately

ATTENTION: We have been made aware that one of our company names (Asset Exchange Holdings Limited), registered address and company number have been used by websites such as and These websites are nothing to do with our group, and our details are being used fraudulently. Please do not access these sites, enter any information on them or use them to pay for any goods or services, as there is a risk that you could be defrauded. The Company, its Directors and Shareholders cannot be held responsible for any loss suffered due to the use of these websites, or the purchase of products and / or services through said websites.

We are working with all relevant bodies, including law enforcement authorities, to resolve this matter.

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.