Can I get car finance on a Nissan?
Thinking about getting a Nissan on car finance? We’re here to help answer all your questions about the process.
Can I get car finance on a Nissan?
Absolutely! Car finance can make owning a Nissan more affordable by spreading the cost over several months or years.
You have several financing options to consider. These include hire purchase (HP), personal contract purchase (PCP), and a personal loan. The right car finance option depends on your financial circumstances, credit score, and the specific Nissan model you're interested in.
Car finance options for Nissan vehicles are available to help you buy both new and used models. Whether you’re dreaming of driving away in a shiny new Nissan Qashqai or a dependable pre-owned Nissan Micra, we've got tailored finance deals to suit your budget and specific needs.
How does Nissan finance work?
Nissan finance works by spreading the cost of your car over a set period, usually through monthly payments. Here are the most common finance options available for Nissan vehicles:
Personal Contract Purchase (PCP): With PCP, you pay lower monthly instalments compared to other finance options. At the end of the agreement, you have three choices. You can return the car to the lender, pay a final balloon payment to own it, or trade it for a new model and start a new PCP agreement. This option provides flexibility and is popular among those who like to upgrade their cars often.
Hire Purchase (HP): HP finance involves paying higher monthly instalments than PCP but has no large final payment. Once you’ve made all the payments, you own the car outright. This option is straightforward and ideal for those who wish to keep their car for a longer period.
Personal Loan: Personal loans are a straightforward way to finance a Nissan. With a personal loan, you borrow a fixed amount of money from a lender, which you then repay over a set period through monthly instalments. Unlike other car finance options, a personal loan allows you to own the car outright from the beginning. Personal loans can be used to buy new or used cars and are not tied to the vehicle itself.
If you’re not sure which is the best option for you, your dedicated account manager will be on hand to help you make a decision.
Is Nissan finance easy to get?
Like any car finance deal, the ease of getting Nissan finance largely depends on your personal financial situation. This includes factors like your credit score, employment status, and overall financial health.
Typically, if you have a stable income and a decent credit history, you should find it relatively straightforward to get approved for Nissan finance. However, each lender has its own criteria.
The best thing you can do is make sure your credit score is as good as possible before you apply, and consider putting down a larger deposit.
Can I get Nissan finance with bad credit?
Yes, it is possible to get Nissan finance even if you have bad credit. If your credit score is poor, don’t let that stop you from applying.
A lower credit score might limit your options and mean higher interest rates than if your score was high. But, we work with trusted lenders who specialise in offering bad credit car finance. They understand that poor credit history shouldn’t be a roadblock and assess every application on an individual basis.
You can boost your chances of approval and get better terms by improving your credit score where you can. Giving a larger deposit can also help, as can providing a guarantor.
Have you been declined for Nissan finance?
If you’ve been declined for Nissan finance, don’t worry. There are several steps you can take to improve your chances of approval in the future:
Check your credit report: Ensure there are no errors or inaccuracies that could be affecting your credit score negatively.
Improve your credit score: Focus on paying off any outstanding debts and make sure you pay all your bills on time to build a better credit history.
Consider a larger deposit: Offering a bigger down payment can make you a more attractive borrower to lenders, as it reduces the amount you need to finance.
Explore alternative lenders: Some lenders we work with specialise in offering finance to those with less-than-perfect credit and could be your best option for securing a deal.
Getting declined is frustrating, but don’t worry. We work with lenders who may be able to offer you a deal, even if you’ve been refused car finance elsewhere.
Can I get used Nissan car finance?
Yes, you can finance a used Nissan just as easily as a new one. Many lenders offer finance deals specifically tailored for used cars, making it possible to purchase a pre-owned Nissan without paying the full amount upfront.
Financing a used car can be a cost-effective way to drive a reliable vehicle, as used cars often come at a lower price point compared to new models.
The same payment options available for new cars typically apply to used vehicles as well. But, it's important to note that with used cars, interest rates may be slightly higher, and the repayment period might be shorter. This is because the car depreciates in value as it ages.
What credit score do you need for Nissan car finance?
The credit score required for Nissan car finance can vary depending on the lender and the type of finance agreement you want.
Generally, a higher credit score improves your chances of approval, and securing better interest rates. Most lenders consider a credit score above 650 as good, but there are options available for those with lower scores.
It’s important to check your credit report before applying and to discuss your specific situation with us, so we can guide you through the process and help you understand your options.
Can I pay off my Nissan finance early?
Yes, you can usually pay off your Nissan finance early. Most finance agreements allow early repayment. But, check your contract's terms. Paying off your finance early can save you money on interest charges, but be aware that some agreements may include an early repayment fee.
It's important to review your contract and speak to your lender to understand any potential costs that might come with early repayment.
What Nissan cars can I get on finance?
You can finance a wide range of Nissan models, whether you’re looking for a compact city car, a family-friendly SUV, or an eco-friendly electric vehicle. Here are some popular Nissan models that you can finance:
Nissan Juke finance: The Nissan Juke is a stylish and compact SUV known for its distinctive design and agile performance. It's a great option for urban driving and comes with a variety of finance deals.
Nissan Leaf finance: The Nissan Leaf is one of the leading electric cars on the market, offering zero-emission driving and advanced technology features. Financing a Nissan Leaf is an excellent choice for environmentally conscious drivers.
Nissan Qashqai finance: The Nissan Qashqai is a versatile crossover SUV that combines comfort, space, and efficiency. It's a popular choice for families and those who need a bit more room.
Nissan Micra finance: The Nissan Micra is a compact hatchback that’s perfect for city driving, offering great fuel efficiency and easy manoeuvrability. It's an affordable option with various finance packages available.
Nissan PCP finance or HP finance, what is best for me?
Choosing between Personal Contract Purchase (PCP) and Hire Purchase (HP) depends on your personal preferences and financial situation:
PCP finance: PCP is ideal if you prefer lower monthly payments and enjoy driving a new car every few years. You can return the car, pay a balloon payment to keep it, or trade it for a new model. PCP is great for those who like to keep their options open.
HP finance: HP is more straightforward and is better suited for those who want to eventually own their car outright. With HP, you make higher monthly payments without a large final payment, and once all payments are made, the car is yours. This option is typically preferred by those who plan to keep their car for a longer period.
Ready to get your Nissan car? Apply for a quote now, or give us a call if you have any more questions.