One of the UK's leading direct lender brings you our all new

Car finance

‘Coz when you need that car, you want it now!
Make sure you secure a great deal and save money on your next vehicle purchase – by comparing the UK’s most trusted lenders. Spread the cost of your car for up to seven years, with flexible monthly payments.
Rates from 9.9% APR: Exact rates you will be offered will vary according to your circumstances and lender, subject to status.
Representative example: Borrow £6,500 over 5 years. Representative APR of 19.9%, an annual interest rate of 19.9% (Fixed). Deposit of £0.00. Amount payable would be £166.07 per month. Total cost of credit would be £3,464.37. Total amount payable would be £9,964.37.
Cashfloat acts as a credit broker, not as a lender with our car finance product.
We will help you find the best rate from our panel of lenders. Cashfloat do not charge a fee for this service, but we do earn a commission. This will not influence the interest rate you are offered in any way.
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All credit scores considered
Tailored offers that suit your needs
We all need a reliable car to get us from place to place… So what do you do if your car’s getting old or keeps breaking down? You get a new one! That’s fine if you’ve got the money ready. But what do you do if you don’t have enough money to put a deposit down for one right now?

Well, there are actually lots of ways around this problem, and Cashfloat can help you find them. We’re here to make sure that you get the best deal possible for car finance. If you need to replace your car, there’s no delay with Cashfloat.

Can I get car finance with bad credit?

Yes, you can get car finance with a bad credit score with Cashfloat. Even if you have a very poor credit score, you could still meet our car finance eligibility criteria. Just like with our payday loans, we look at your overall affordability instead of just looking at your credit report.

The most important thing is that you can prove you can afford the repayments. If you can do that, you could be accepted for a car loan even with a poor credit score.

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What are the different car finance options?

In the UK, there are many ways of getting car finance. Here are a few:

Personal Contract Hire
With a personal contract hire (PCH) lease, you will pay an upfront lump sum followed by regular monthly payments to rent a vehicle over a long period of time. The average PCH lease is for three or four years, but some companies offer leases for as long as five years. You don’t own a car in a PCH agreement, you just hire it. But you get to drive a new car, and when the lease ends you don’t have to worry about the fact it will have depreciated in value. You also get to have a new vehicle every few years. Maintenance can be covered as well. Normally, the car is returned at the end of the rental period, but if you want to keep it, you may be able to pay a large final payment to do so.
Personal Contract Purchase
Personal contract purchase (PCP) is similar to PCH leasing, except that you always have the option of purchasing the vehicle at the end of the contract. In a PCP agreement, you will pay an initial deposit to begin the contract, and then you’ll take out a loan for the rest of the value of the vehicle. After this, you’ll make monthly payments towards your loan. The contract will end before the loan is fully repaid (usually, after 3-5 years), and at this point, you will have two options. You can either pay off the rest of the loan and keep the vehicle by making what’s called a ‘balloon payment’, or you can choose not to and return the car or swap it for a new one under a new finance agreement.
Hire Purchase
Hire purchase (HP) is another popular type of car finance. With HP, you will take a loan for the value of the car, and the loan will be secured against the car. You’ll then pay an initial deposit at the start of the agreement, followed by regular monthly payments towards the cost of the car. At the end of the agreement, you’ll have paid off the entire cost of the car plus interest, and then you’ll become the owner of the car. Hire purchase agreements are quite common and are used for lots of things besides cars, such as garden machinery.
Personal Loan
Getting a personal loan to help buy a car may be a good idea if you don’t want to raise funds for a large deposit. With a personal loan, you will simply take out a loan yourself and use it to purchase a vehicle. You’ll make normal payments towards the loan, including payments towards interest. Usually, the loan will be an unsecured loan and won’t be secured against the value of the car, like in an HP agreement. This will mean that you’re the owner of the vehicle from the start. As well as this, you will have more choice about where you can buy the car, and you won’t have any restrictions on how you use it. The downside to personal loans is that they’re usually more expensive and have tougher lending requirements.
Here’s a quick comparison of the different types of car finance to help you decide:
Personal Contract Hire
Personal Contract Purchase
Hire purchase
Personal loan
Deposit needed
Usually
Usually
Usually
Secured (against car)
You own the car at the beginning
You own the car at the end
No, unless you make the final balloon payment
Monthly payments
Available with bad credit
Usually
Usually
Usually
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How do our car loans work?
To get a car finance quote from Cashfloat, submit an application here.

Once you’ve submitted your application, we’ll search for the lender who can provide you with the best car finance quote. You should receive an offer directly to your inbox within minutes of submitting your application. You’ll then be assigned an account manager to help you get started. They’ll call to confirm your details and answer any questions you might have.

Once we’ve found a car finance solution that works for you, you could be driving your new car in no time.
Cashfloat’s experts share their top tips for buying cars
Before you decide which car to get with your car finance, here are some things you may want to think about:
Can I use my old car for longer? Maybe you’re being too hasty in getting a new car. Remember that modern cars often don’t start to seriously degrade until they’ve done around 150,000 miles.
What size car am I after? Getting a family-sized car may be unnecessary if the kids have grown up and left the house. Generally, smaller cars are cheaper to run and insure as well.
Can I make do with a second hand car? There are plenty of used cars available, and you could save thousands by buying one of them instead of a new one. A used car is also likely to depreciate in value less quickly, which will save you even more money.
What car is right for my lifestyle? Different cars suit different people. If you live in a city, for example, having something small and manoeuvrable will help. In the countryside, on the other hand, you might want something a bit more robust.
What features do I want? Decide what car features are important to you. Extra features, such as satellite navigation or heated seats, can add significantly to the price of a car but may be really important to you.
Get a free, no-obligation quote.
After you submit an application, you’ll get a free non-obligatory quote. There are no charges for applying, and the process is easy.
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FAQs

How much can I borrow?

With Cashfloat, you can apply for up to £50,000 towards the cost of a new car.

What is the cheapest way to finance a car?

Buying a car without paying any interest at all will be the cheapest option. A 0% credit card is a good option if one is available to you that will cover the cost of a car. Alternatively, maybe you have some family or friends you could borrow money from? If you do decide to borrow from family or friends, however, it’s important to be aware of the pitfalls to this approach.

Will a car finance plan affect your credit score?

Taking out any form of credit, including car finance, will have an impact on your credit file. When you first take out car finance, you might see a slight dip in your credit score. This happens because you’re taking on new debt. If you keep making your repayments on time, however, your credit score should start to rise again before long.

Note that if you fail to stick to your car finance payment plan, your credit score will be negatively affected. You should always make sure you can afford to pay for car finance before you take it out.

Could taking out car finance improve your credit score?

If you get a new car on credit and make sure to make all your repayments on time, you will actually improve your credit score with car finance. This is because you will prove to lenders that you are a responsible borrower who can pay back money on time.

How will a car finance calculator help me?

A car finance calculator will help you understand how much you will end up paying in total if you take out car finance. This will help you decide if you can afford a finance package.

Can I use your car finance for a motorbike?

At Cashfloat, you can use our cheap car finance for a car, van, motorbike, caravan or motorhome. Remember to select the vehicle you require finance for during the application process.

How old do I need to be to apply for a car loan?

Applicants must be at least 18 years old to be approved for car finance.

What information do I need to provide during the application?

To complete your application, you will need to provide various pieces of personal information, including your contact details and your address history. As part of the application process, we will use your personal information to conduct a credit check on you.

How much will car finance cost me?

The total cost of buying a car with car finance will be primarily determined by how much is needed to buy the car and what the interest rate is. The lower the interest rate, the cheaper the monthly payments will be. Some lenders may also include fees in their finance agreement.

Why choose Cashfloat for your car finance?

Cashfloat has been helping people in the UK obtain short term finance since 2014. We have now connected with the top brokers in the UK to help you get finance for your new car. Some of the perks of applying with Cashfloat are:

  • Poor credit scores accepted
  • Easy online application
  • Fast decision
  • No hidden fees
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Want to get in touch?
Give us a call on
01625 919563

Our contact centre is open 8am-6pm Monday to Thursday, 8am-5pm Friday and 10am-4pm Saturday.

Calls may be monitored and recorded for quality and training purposes.

Email us at
customerservices@carfinancefirst.co.uk

You can also send us a message via email at any time, and one of our advisors will get back to you as soon as possible during office hours.