It’s still a common myth that you can get car finance with bad credit. However, this isn’t strictly true, there are many bad credit car finance providers who specialise in helping people get car finance. They can take into account your affordability as well as your credit score to get you approved! So, if you have bad credit and you’ve been approved by a lender, how do you choose your car? Refused Car Finance help people every day get car finance with bad credit and they’ve put together their list of the best cars for people with bad credit.
Top tips:
- Be realistic. If you’ve been approved for car finance and you’re ready to choose your car, you should be realistic with your budget. You should look to buy a car that is affordable. If you have bad credit due to missed payments in the past the you don’t want to sell yourself short again with your new car. If you can afford Ford invoice prices but searching for a Ferrari, then you should bring your expectations down to reality.
- Know your requirements. Each person needs a car for different reasons. Some may need it as a lifeline to get to work, others may need to pick the kids up from school, some may need it for regular long journeys, we advise that you do your research first. Would a diesel be better for long journeys or do you need a small car for regularly popping to the shops? Do you need more than 5 seats for a big family? You may be surprised to know that you can get all these cars on affordable budgets too!
- New or used? Many people still believe that you can only get finance for new cars from a dealership. However, this isn’t true! There are many used cars which can be purchase or hired on finance. If you are looking to get a used car on finance, you should consider the age of the vehicle. If you choose to take a finance deal over 3-4 years, consider how old your car will be at the end of the agreement. Some car finance providers don’t allow you to get a car that will be older than 10 years old at the end of the finance agreement.
Let’s take a look at the best cars you can get on finance for under £200 with bad credit!
BMW 1 Series
The BMW 1 Series is an affordable and stylish car. Popular with many young people as its sporty, premium and won’t break the bank. BMW has long been known for its impressive build quality and reliability, so you can also trust that you’re in safe hands! The only downside of a 1 series is the limited rear boot space, so may not be the best choice for the full family.
Ford Fiesta
The Ford Fiesta has been loved for many years and has been named the UK’s
best selling car for the past few years. With that sort of recommendation
and a monthly finance below £200, what more could you want? It has been named
the best-handling car in its category and also has a few different engine
choices, depending on your needs. Its surprisingly spacious and can suit a
whole range of drivers.
Vauxhall Corsa
The Corsa is similar to the above as they are popular with young and first-time drivers but are also very versatile. It is a fun to drive small car which also comes in 3 and 5 door options, giving you the choice of more space for a small family. It is well equipped and is a great all-rounder car. It can start from small litre that still packs a punch and also has the reliability of the Vauxhall name.
Nissan Qashqai
If you’re looking for a family car that’s reliable, spacious and under £200, the Nissan Qashqai is perfect for you. The Qashqai is very popular amongst UK families. It is one of the most comfortable SUVs on the market and performs well whether you’re popping to the shops or taking the family on a road trip. It also prompted many replicas after it was released. But why settle for the rest when you could drive the best?
Ford Grand C-Max
Many people this a 7 seater car on finance will be expensive, however, you can get a Ford Grand C-Max with an affordable price tag. The 5-seat version of the C-Max was a massive success, so Ford decided to make it that little bit bigger and provide a larger, more spacious family car. They added an extra pair of rear seats, making it a 7-seater but they can also be folded down to provide more boot space. The standard kit is generous and there are 3 trims to choose from. There’s plenty room throughout and both front a rear passenger will be more than comfortable.
Audi A1
The Audi A1 is stylish and sporty. It has a range of engines but even the lower powered 1.2 litre engines provide great performance and keep the running costs low. It has been around for a good few years so you’d not struggling to get a great finance deal on a one that is a few years old. It’s a solid little car that makes you feel safe and comfortable. It has a classy interior and exterior design and is packed with Audi technology, so you get a lot for what you pay! It’s also available in 3 and 5 door options if you want that added extra space.
Volkswagen Passat
The Volkswagen Passat is a very popular saloon executive car. If you like something a little lower and longer, the Passat is a great choice! Volkswagen have a great reputation for reliability and also repair costs too, so any little accidents shouldn’t break the bank. It’s also good if you are looking for a dependable diesel but also has many petrol models available. It has excellent fuel economy too. It’s one of VW’s best valued family cars as it carries large loads, tows well and has excellent space for all.
