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Pay Weekly Car Finance are a car finance specialist broker that deals with every fair and bad credit car finance provider in the U.K. Our range of car finance lenders include lenders that specialise in getting car finance approved for people only in receipt of benefit income. So, if you are unable to work and have a full driving licence as well as an income of over £1000 per month, then you qualify to apply.
The finance companies that accept benefit only applications, see benefits as a reliable source of income. If this is compared to employed or self-employed income, there is no need for sick pay or maternity pay and there is no risk of losing a job. That said, the finance providers we deal with are still looking for intent to pay based on your credit file. If your credit file shows that you are in financial difficulties then they will decline your application but if your bad credit is firmly in your past then there is a good chance of getting car finance on benefits.
You can be considered for car finance on any benefits as long as your total income is over £1000 per month and you have a full UK or EU Driving Licence. Here are some of the most common benefits that are acceptable;
So, if you are in receipt of any of the above, then you can apply for car finance with us.
Most of the finance companies we deal with offer the option of weekly or monthly payments, this just needs to be organised with the finance company directly once you have been approved. You can also change this at a later date by contacting your car finance provider directly.
Once you’ve applied, we’ll send your application to our panel of benefits only car finance providers (using soft searches only) and get back to you with details of any (and all) approvals we get back for you.
We’ll let you know what documents you will need to provide (usually driving licence and open banking) and once you’ve had these accepted by the finance company you can sign the finance agreement and collect your car. It’s really that straightforward and the process can often be completed within a day.
We currently have 2 finance providers that accept customers who only receive Universal Credits. If you are also in receipt of other benefits then you are likely to qualify for more finance companies.
If your partner also receives benefit income, it’s usually a good option to apply jointly, that way, we can try and get you approved jointly or try and get you each approved individually (provided you both drive).
Unfortunately, if you are declined after applying with us, there is no point in trying to get car finance anywhere else in the next 30 days. As we use every fair and bad credit car finance provider there is, there won’t be any more finance companies to try your application with.
If you want to improve your chances, the best thing you can do is look at your credit file and make sure;
These steps will all improve your chances of an approval next time.
