Can You Get Car Finance as an Agency Worker?
If you're an agency worker or working a temporary job, you might be wondering whether you can get car finance. It's a valid concern since agency work can sometimes bring more uncertainty about your financial stability and future employment. However, there are some options available for you, even in your situation. In this guide we’ll answer all the most commonly-asked questions about whether you can get a car loan with a temporary job or as an agency worker.
Would I be able to get car finance if I am an agency worker?
Yes, you can get car finance if you are an agency worker, but there may be some additional hurdles to overcome. Lenders often prefer to work with people who have a permanent job because it suggests more financial stability. However, many lenders are open to working with agency workers, especially if you can provide proof of a steady income and good credit history.
You may need to provide extra documentation to show your income and employment stability, such as recent payslips or a letter from your employer. Lenders may also look at your credit score and history to assess the risk of offering you a loan.
Here at Car Finance 247 we work with a large panel of lenders who specialise in offering car finance to people with a range of financial circumstances. So long as you can provide at least three months of recent payslips, we should be able to help you get car finance as an agency worker.
Can I get a car loan with a temporary job?
The answer is yes, you can still get a car loan if you have a temporary job. While it might not be as straightforward as getting a loan with a permanent job, there are lenders who are open to offering car finance to agency workers. The key is to find lenders who are familiar with agency work and the unique financial situations that come with it. As we’ve mentioned earlier, it’s best if you can provide at least three months’ worth of payslips for your current temporary role, as this will demonstrate proof of reasonable income stability for lenders.
What counts as a temporary job?
A temporary job is one where your employment is for a limited period, often through a staffing agency. This might include roles such as seasonal work, short-term contracts, or project-based positions. Even though these jobs may not offer the same long-term stability as a permanent job, they can still provide steady income.
Can you get car finance in a temporary job?
Yes, you can get car finance even if you're in a temporary job. However, lenders may look more closely at your income stability and history of employment. They might require you to provide more documentation or evidence that you have a consistent source of income. Be prepared to show payslips (preferably your last three month’s worth or more), bank statements, or a letter from your employer to prove your financial situation.
Can agency workers get a loan?
Agency workers can get loans, including car finance and personal loans, but the process may take more time and require more documentation compared to someone with a permanent job. Lenders will want to understand your employment situation and assess your ability to repay the loan. Your credit score and history will also play a significant role in the lender's decision.
Can agency workers get car finance with bad credit?
Getting car finance with bad credit can be challenging for someone regardless of whether they are an agency worker or not, but it's not impossible. Lenders may require a larger down payment, higher interest rates, or a co-signer to mitigate the risk. It's important to shop around and compare offers to find the best deal for your situation. Here at Car Finance 247 we work with a large panel of lenders, many of which specialise in bad credit car finance for people with a less-than-perfect credit history. So if you’re an agency worker with bad credit, they should be able to help you so long as you can provide at least your last three months of payslips from your agency role.
Can you finance a car without a permanent job?
Yes, you can finance a car without a permanent job. Lenders will focus on your current income stability, history, and credit score. As long as you can prove that you have a consistent income and can afford the loan, you should be able to find a lender willing to work with you (and we can help introduce you to them here at Car Finance 247).
Can you finance a car on a fixed-term contract?
Yes, you can finance a car on a fixed-term contract as it still counts as a regular and reliable source of income. Lenders may ask for additional documentation to prove your income and employment history. Be prepared to show your contract details, payslips, and any other documents that demonstrate your financial situation.
What am I entitled to as an agency worker?
As an agency worker, you are entitled to certain rights such as the National Minimum Wage, holiday pay, and rest breaks. You may also have the right to join a trade union and receive equal treatment after a certain period of employment.
What are agency workers not entitled to?
Agency workers may not have access to the same benefits as permanent employees, such as sick pay, maternity or paternity leave, and job security. You may also not be eligible for certain company-specific benefits like pension contributions.
Overall, while getting car finance as an agency worker or working in a temporary role can present some challenges, it is definitely still possible. Shop around for lenders who understand your situation and compare offers to find the best terms for your needs, or let us do that for you here at Car Finance 247. We work with an extensive panel of lenders who specialise in lending to people with all kinds of different financial circumstances, so we may be able to help you find the perfect car finance deal to suit your needs.