Being out of work doesn't automatically rule you out of car finance. If you receive benefits or another regular income you can show, you could still be approved. We look at what you can realistically afford now, not whether you have a job title today.
Yes. Being unemployed doesn’t put car finance out of reach.
What matters is whether you have a regular income and whether your monthly payments fit around your outgoings. If you receive benefits, that income counts. If you have a pension, that also counts towards your income.
We put your application in front of a panel of specialist lenders who look at your wider circumstances to assess your suitability for car finance, even if you’re not working.
Fill out your details below to submit your application
You don’t need regular payslips to be considered by our panel of lenders. What they want to see is an income that you receive regularly, and is likely to keep coming in during your agreement. This could be:
If you receive benefits, that income can be used to support an application for car finance. As long as your benefits are more than £1,700 a month and would cover the cost of car finance comfortably, you’re all set.
A regular pension is a stable, predictable income, and our lenders treat it like that. If you’re retired, rather than between jobs, you can still get a car loan for retired people.
You can choose to apply with someone who is working, like a partner or family member. This could strengthen your application and potentially improve the rate you’re offered.
Whichever route you choose, we’ll work with you to make sure your payments sit comfortably within your budget so you don’t stretch your finances too much.
Fill in a short form with a few details about your income, your outgoings, and the kind of car you’re after. It takes a few minutes.
We run an initial eligibility check using a soft search. It doesn’t show on your credit file and it doesn’t affect your score. You only see a hard search once you decide to go ahead.
We look at what you can afford now, not just what your credit history says about your past. Your income is reviewed by someone who can take your full situation into account.
Once you’re approved in principle, you can browse the showroom. There are 200+ cars to choose from, every one checked and prepared before it reaches the forecourt.
Your monthly payment is agreed before you commit. And if your circumstances change while you’re paying, tell us, and we can look at adjusting your plan to keep it manageable.
For the best car finance deals, shop used cars on finance with Concept Car Credit.
Car finance for people who aren’t in work right now works similarly to people who are in work, there are just some slight adjustments that need to be made and a few more considerations lenders will think about before approving you.
Not having a regular income from a steady job can make it more complicated to get car finance, but it won’t automatically stop you. If you’ve got income from benefits payments or a pension and it’s above our minimum income threshold, you could still qualify.
Putting down a deposit on a used car, even a small one, can reduce your monthly payments and make your finance payments more affordable on a monthly basis. We do offer low deposit and no deposit car finance, so we can discuss your options when you apply.
Lots of our customers have variable incomes so need flexibility built into their finance deals. As part of your application we’ll see how we can tweak your plan so you pay the lowest amount as and when you need to.
Having a good credit score can be useful for getting unemployed car finance, especially if you’re only out of work for a short time or have a regular income like a pension. But it’s not the only thing our panel of lenders look at so a patchy financial history won’t rule you out.
If you’re not working and have a less than stellar credit history it can feel like running uphill to get finance on a used car. Most of the main lenders use algorithms that won’t even consider you.
We’re specialists in bad credit car finance options and have helped more than 30,000 customers (many who’ve had bad credit scores) get finance on a new used car. That’s why we’ve got a 4.7/5 star rating on Trustpilot.
If you’ve got a CCJ, have missed payments, defaulted on debt in the past, have been declared bankrupt in the past, or even if you’ve got an active IVA, we work with a panel of specialist lenders who’ll look at what you can realistically afford today, not just what you’ve been through in the past.
What you’ll need to show is:
And that’s all. You don’t need a perfect credit score or a high income. Just apply online today or give us a call to book a meeting in-person and we’ll discuss your options with you.
We Take Your Full Circumstances Into Account
Many mainstream lenders have automated algorithms that use strict criteria to reject you if you’re even slightly out of scope. We have real people in the decision making process who’ll take time to look at your income, what you spend a month and what realistically you can afford.
We Don’t Overstretch Your Budget
We’re not here to approve you to hit a sales target if it’s going to mean you struggle to make payments and put your finances in jeopardy. We only approve finance deals that are manageable for you. If we don’t think there’s a realistic finance deal to be found, we’ll be honest with you.
We’re With You For The Long Term
You don’t have to worry about signing an agreement and then being left to deal with everything on your own. If you’ve got a question six months after signing your agreement, or you need to adjust your payment plan to keep up with payments, we’re here to help you.
Have a look at the cars in our online showroom and see what used car finance options could fit. Or give us a call to arrange an in-person meeting or get a test-drive.
Our online form takes a few minutes to complete and won’t affect your credit score. If we think we’re a good fit to help you find used car finance even if you're unemployed we’ll tell you and outline your monthly payments.
For illustration purposes only. The rate and payment you may be offered will be based on your individual circumstances.
Concept Car Finance Limited is a credit broker, not a lender. Credit is subject to status.
£0.00
at 14% APR
Vehicle Price: £0.00
Deposit: £0.00
Amount to Finance: £0.00
APR: 0.00%
Option-to-purchase fee: £10
Total Cost of Credit: £0.00
Total Repayable: £0.00
Virtually anyone can apply if you meet our minimum criteria:
No.
When you first apply we carry out a soft search on your credit to assess your eligibility. This type of search won’t show up on your report so doesn’t impact your credit score. We only carry out a hard search – which does show up on your credit report – once you’ve agreed to a finance deal.
If you’re a student and unemployed, get in touch to discuss your personal circumstances. If you can complete a joint application we can discuss your options.
