Car Finance for a Wide Range of Credit Profiles
At Car Credit Expert by HMC, we make it easier to explore car finance without unnecessary jargon or pressure.
We work with a panel of carefully selected finance providers who may be able to offer funding for your next vehicle, subject to your circumstances, affordability and the lender’s criteria.
Whether you have an excellent credit history, an average score, limited borrowing history or have experienced credit problems in the past, our team will consider your application and help identify suitable options where available.
Car Credit Expert by HMC acts as a credit broker, not a lender.
Car finance calculator
Your repayments
Rates shown are illustrative by credit band. Your actual rate will depend on your individual circumstances and the lender's assessment.
Representative Example Credit Excellent
Representative Example Credit Good
Representative Example Credit Fair
Representative Example Credit Poor
Representative Example Credit Bad
*Subject to meeting the terms and conditions of our lending panel
Please note that your personal finance example and monthly repayment are designed to give you an indication of how much you may expect to pay for your loan. Due to the many factors involved in vehicle finance companies making their decision, Car Credit Expert can't guarantee being able to obtain a loan at the quoted rates/prices. At Car Credit Expert we will always try to obtain the best deal for you based on all your circumstances.
Finance Designed Around You
Every customer’s circumstances are different. The finance available to you may depend on factors such as:
- Your income and regular outgoings
- Your credit history
- The deposit available
- The vehicle you wish to purchase
- The amount you need to borrow
- The proposed agreement length
- The lender’s affordability and eligibility checks
We cannot guarantee acceptance or a particular interest rate, but we will treat your application fairly and approach suitable providers from our selected panel.
Can I Get Car Finance With Poor Credit?
Previous credit difficulties do not always prevent you from obtaining car finance.
Our selected providers may consider applications from customers with:
- Good, fair or poor credit histories
- Limited or no previous credit history
- Missed or late payments
- Defaults
- County Court Judgments
- A previous Individual Voluntary Arrangement
- Previous bankruptcy or debt-management arrangements
- Self-employed or variable income
- Benefits forming part of household income
- New employment
Each application is assessed individually. Approval remains subject to status, affordability, lender criteria and the suitability of the vehicle.
What Is Car Finance?
Car finance allows you to spread some or all of a vehicle’s purchase price over an agreed period rather than paying the full amount upfront.
You will normally pay a deposit followed by regular monthly payments. Interest and any applicable fees increase the overall amount you repay.
Before entering into an agreement, consider:
- The monthly repayment
- The deposit required
- The agreement length
- The interest rate and APR
- The total amount payable
- Whether you will own the vehicle at the end
- Any mileage or condition restrictions
- Early-settlement terms
- Whether the payments remain affordable if your circumstances change
Hire Purchase Finance
Hire Purchase, commonly known as HP finance, is one of the most straightforward ways to finance a used car.
You normally pay a deposit and then fixed monthly instalments over an agreed term. Once all required payments have been made, including any option-to-purchase fee, ownership of the vehicle passes to you.
How HP finance works:
- Pay an initial deposit
- Finance the remaining balance
- Make fixed monthly repayments
- Keep and use the vehicle throughout the agreement
- Own the vehicle after completing the agreement and making any final required payment
The vehicle remains the property of the finance provider until the agreement has been completed. You cannot normally sell it without first settling the finance.
HP can be suitable for customers who want predictable payments and intend to keep the vehicle at the end. MoneyHelper confirms that under HP, the customer pays a deposit and instalments before owning the car at the end of the contract.
Personal Contract Purchase
Personal Contract Purchase, usually called PCP finance, normally offers lower monthly payments than financing the full vehicle price through HP.
This is because a portion of the vehicle’s value is deferred until the end of the agreement as an optional final payment.
At the end of a PCP agreement, you will normally have three choices:
- Pay the optional final payment and keep the vehicle.
- Return the vehicle, subject to the agreement’s mileage and condition terms.
- Part exchange the vehicle, subject to its value and any outstanding balance.
PCP agreements often include an agreed annual mileage allowance. Additional charges may apply where the vehicle exceeds that mileage or is returned with damage beyond fair wear and tear. MoneyHelper describes PCP as involving a deposit, monthly repayments and an optional final payment where the customer wishes to keep the car.
PCP availability depends on the lender, vehicle age, mileage, value and other eligibility criteria. It may not be offered on every used vehicle.
Personal Loans
A personal loan is separate from dealer-arranged motor finance.
You borrow money directly from a bank, building society or other lender and use it to purchase the vehicle. The car is normally owned by you from the outset because the loan itself is not usually secured against it.
Your eligibility and interest rate will depend on the personal-loan provider’s assessment of your creditworthiness and affordability.
A personal loan may give you greater freedom over the vehicle, but you remain responsible for repaying the loan even if the car is sold, damaged or no longer in use. MoneyHelper notes that personal loans usually involve fixed monthly repayments over an agreed term, with interest set when the agreement begins.
HP or PCP: Which Is Better?
Neither option is automatically better. The right choice depends on your budget and what you want to do with the vehicle.
HP May Be More Suitable When:
- You intend to own and keep the car
- You prefer a straightforward agreement
- You do not want mileage restrictions
- You are comfortable with potentially higher monthly payments
PCP May Be More Suitable When:
- Lower monthly payments are important
- You may wish to change the car regularly
- You can remain within the agreed mileage
- You understand the optional final payment and return conditions
Compare the total amount payable, not just the monthly repayment.
Can I Use My Current Car as a Deposit?
Yes. Where your current vehicle is accepted in part exchange, its value can normally be used towards the deposit on your next car.
Where outstanding finance remains on your current vehicle, we can review the settlement figure and explain whether the vehicle has:
- Positive equity, where it is worth more than the settlement balance
- Negative equity, where it is worth less than the amount required to settle the agreement
Any proposed treatment of negative equity remains subject to the new lender’s criteria and affordability assessment.
How the Application Process Works
Complete an Application
Provide your personal, employment, income and residential details together with information about the vehicle and deposit.
We Review Your Circumstances
Our team considers your application and identifies suitable finance providers from our panel.
The Lender Assesses Your Application
The lender may carry out credit, identity, fraud-prevention and affordability checks before making a decision.
Review the Finance Offer
Where approved, check the deposit, monthly payment, agreement length, APR, total amount payable and all terms before proceeding.
Complete Your Vehicle Purchase
Once the finance documentation and any remaining checks have been completed, the funds can be released and the vehicle supplied.
Why Choose Car Credit Expert by HMC?
All Credit Profiles Considered
We welcome applications from customers with good, fair, limited or previously impaired credit histories.
Access to Selected Finance Providers
We work with a panel of providers rather than relying on one finance company.
Friendly, Personal Support
You can speak to a real person who understands both car finance and the vehicle-buying process.
Backed by HMC
Car Credit Expert is supported by HMC, an established independent motor business serving customers since 2002.
Quality Used Vehicles Available
You can explore HMC’s current selection of used cars, SUVs, 4x4s and vans.
Part Exchange Available
Your current vehicle may be used towards your deposit, subject to valuation and settlement of any existing finance.
Car Finance FAQs
It may be possible. Lenders assess each application individually based on credit history, affordability, income, deposit and other criteria. Previous credit problems do not guarantee refusal, but finance cannot be guaranteed.
Hire Purchase (HP) finance lets you pay a deposit followed by fixed monthly instalments, with ownership of the vehicle passing to you once you've made all required payments, including any option-to-purchase fee.
Personal Contract Purchase (PCP) usually offers lower monthly payments than HP because part of the car's value is deferred to an optional final payment at the end of the agreement, when you can pay it to keep the car, return it, or part exchange it.
That depends on the type of search carried out. An initial eligibility check may use a soft search, while a full application may involve a hard credit search. The process should clearly state which type of search will be used before you proceed.
Deposit requirements vary depending on the vehicle, lender and your circumstances. A larger deposit may reduce the amount borrowed and monthly repayment, but it does not guarantee approval or a lower interest rate.
Yes — see our part exchange page. If your car is worth more than the settlement figure (positive equity), the remaining value can go towards your next vehicle. If it's worth less (negative equity), you may need to cover the difference, subject to the new lender's criteria.
You can normally request an early-settlement figure from the finance provider. The amount required and any interest rebate will depend on the agreement and applicable rules. MoneyHelper advises customers to obtain and review the settlement figure before ending a car-finance agreement early.
Possibly. Each lender has its own limits relating to vehicle age, mileage, value and condition at the start and end of the agreement.
Yes. Self-employed applicants may be considered, although the lender may request evidence of income, bank statements, tax calculations or other documents.
Some lenders may consider certain benefits as part of household income. This depends on the provider's policy and the overall affordability assessment.
We work with a selected panel of finance providers including Close Brothers, CarFinance247, Car Money, Zuto and Mallard Finance. The provider approached will depend on your circumstances and the vehicle being purchased. We may not search the entire market.
No. Finance is subject to status, affordability, credit checks, lender criteria and final approval.
Apply for Car Finance
Explore your car-finance options with friendly support from Car Credit Expert by HMC.
All credit profiles considered. No guaranteed acceptance.
Important Information
Car Credit Expert is a trading style of IHMC Ltd. IHMC Ltd is authorised and regulated by the Financial Conduct Authority, FCA number 767708. We act as a credit broker and not a lender. We can introduce you to a limited number of carefully selected credit providers who may be able to offer finance for your purchase. Finance is subject to status, affordability, lender criteria and terms and conditions. Applicants must be aged 18 or over and resident in the UK. We may receive a commission from a finance provider. Full commission disclosure and written quotations are available on request.