Vehicle Finance
Terms and Conditions:
This example is for a Hire Purchase Agreement.
I confirm that I have read and understand the following, and that in doing so provide permission for ZAP Loans to undertake a credit search and provide my information to their panel of lenders. I understand that this may register as a credit search against my name.
- I have read the Initial disclosure document (IDD) available online
- I consent to a credit search being conducted
- I understand the following
- The credit search relates to a hire purchase product which does not have any mileage restrictions; however, a balloon product is also available – please call to discuss
- Subject to balance financed, the agreement would be protected by the Consumer Credit Act (CCA)
- I tend to be the registered keeper of the vehicle and would hold fully comprehensive motor insurance during the length of the agreement
- I understand that the vehicle is at risk of repossession if the contractual repayments are not maintained
By proceeding to obtain a quote, you confirm that you have independently chosen the appropriate term of agreement , are comfortable with the suggested repayments and agree to the above statements. Copies of the relevant documentation, to include the IDD, Product Explanations and Overview have been provided to your email address in a durable medium
Why Choose ZAP Car Finance if you have Bad Credit?
If you’re worried about your credit score affecting your ability to get car finance, here’s how we can help:
Access Car Finance Solutions for Bad Credit Even if you’ve had credit issues in the past, we work with lenders who offer car finance for bad credit. Our network includes providers who are willing to consider applications from individuals with poor credit histories.
Improve Your Credit Score Securing bad credit car finance can be a step towards rebuilding your credit. Making timely payments on your loan can help improve your credit score for future financial needs.
Competitive Interest Rates While rates might be higher than for those with excellent credit, we strive to find you the most competitive interest rates available based on your credit history and financial situation.
Access to a Wide Range of Vehicles Find the right car for your needs, whether it’s a reliable commuter vehicle or a family car. We have access to a diverse selection of new and used cars.
Simple and Transparent Application Process Our easy-to-follow application process ensures that you can get a decision quickly and start exploring your car finance options without hassle.
Types of Car Finance for Bad Credit
Here’s a closer look at the different car finance options for bad credit:
With HP, you make an upfront deposit and then pay off the remaining amount through regular monthly instalments. At the end of the term, you own the car. This option is great if you plan to keep the car long-term.
PCP involves lower monthly payments compared to HP. At the end of the contract, you can choose to make a final payment to own the car, return it, or trade it in for a new model.
These loans are designed specifically for those with poor credit histories. They may come with higher interest rates, but we work to find you the best deals.
A guarantor car loan involves a co-signer with a strong credit history who agrees to take responsibility for the loan if you’re unable to make payments.
How Does Bad Credit Car Finance Work?
Securing car finance with bad credit is straightforward with ZAP’s help. Here’s a step-by-step guide:
- 1.
Apply for Car Finance Submit your application with details about your credit history and financial situation. We’ll connect you with our network of lenders who offer car finance for bad credit.
- 2.
Choose Your Car Browse our range of cars or let us help you find a vehicle that suits your needs and budget.
- 3.
Get Approved Once your application is approved, you will receive a finance offer with terms and interest rates based on your credit profile.
- 4.
Purchase Your Car Finalise your purchase with the approved finance offer.
- 5.
Repay Your Loan Follow the repayment schedule as agreed. Timely payments will help you rebuild your credit. Start exploring your car finance options with ZAP today and discover a range of solutions designed for individuals with bad credit.
Bad Credit Car Finance – FAQs
Can I get car finance with bad credit?
Yes, you can still get car finance with bad credit. You may struggle with some lenders; however, here at ZAP, we work with lenders who offer car finance for bad credit to help you secure the loan you need.
