Refused Car Finance
Being turned down for car finance can be stressful, leaving you unsure about your next steps. But there’s no need to panic — we’re here to help. If your car finance application was initially approved but later declined, or if you were rejected outright, we may still be able to help. While we cannot guarantee approval, we can explore options that may suit your needs.
We believe that car ownership should be accessible to as many people as possible, but finance approval depends on individual circumstances and lender criteria.
Can I get car finance if I've been refused elsewhere?
There are few worse feelings than falling in love with your dream car and losing it because your car finance was refused. But just because you’ve been declined for car finance elsewhere, it doesn’t mean it's the end of the road.
At Car Finance 247, we work with a wide panel of trusted lenders, some of whom consider applications from people who have bad credit or have been rejected for car finance elsewhere. If you’re approved for finance, you can head to a dealership with confidence and choose a car that fits within your agreement.
Alternatively, if you already have a specific car in mind, we’ll try to help you secure finance.
Get in touch with our expert team of account managers today, and we’ll get the ball rolling.
Why has my car finance been refused?
There’s no such thing as guaranteed car finance, and there are many reasons why your application might be declined finance for car. If you’ve been refused car finance, the first thing you’re likely to ask is, “why?”
Understanding the reasons can help you avoid being declined for car finance in the future. Lenders may share feedback on why they couldn’t approve your application. Common reasons for being refused car finance include:
Errors in your application (e.g., mistyped information)
The type of car chosen
Your age
Employment status and insufficient income
A poor credit score
Does your credit score need work?
Credit scores play a significant role in declined car finance applications. Missed payments, financial ties to someone with bad credit, or a lack of borrowing history can increase the chances of being declined finance for car.
A struggling credit history doesn't have to stay that way. Taking small steps to improve your credit score can really add up over time, which may lead to your finance applications being accepted in the future.
Checking your free credit report regularly and addressing any errors or issues can improve your chances. And remember, just because you’ve been rejected for car finance by one lender doesn’t mean you won’t find a deal elsewhere.
Are you self employed?
Employment status or having an insufficient income is also a common reason for being declined. Lenders typically want to see a clear and reliable source of regular income to ensure you can afford the repayments.
If you’re unemployed, lenders may view this as a risk due to concerns about your ability to meet the repayment schedule. For those who are self-employed, lenders might also approach your application with caution, as fluctuating income can make it harder to demonstrate financial stability.
If this is the case, providing proof of your earnings can help reassure the lender. Supplying documentation such as bank statements, tax returns, or invoices can support your application.
What can I do if I’ve been refused car finance?
If you've been refused car finance, don’t worry—there are steps you can take to improve your chances of approval:
Understand why you were refused: Ask the lender for feedback to identify any issues, such as a low credit score or insufficient income.
Check your credit report: Spot and correct errors or inaccuracies.
Improve your credit score: Pay bills on time, reduce debts, and build a stronger credit history over time.
Reduce existing debt: Lowering outstanding balances improves affordability.
Consider a guarantor: A guarantor with good credit can improve your chances of approval;
Look at alternative finance options such as Hire Purchase (HP).
It’s also important to avoid applying repeatedly, as each application leaves a mark on your credit report. If you need finance quickly, considering a cheaper car could improve your options.
Here at Car Finance 247, we may still be able to help even if you’ve recently been declined for car finance. With a free no-obligation quote, we’ll conduct a soft credit search that won’t negatively impact your report. A hard search will only be conducted if you're approved and choose to proceed.
Can you help if I’ve been refused finance and have bad credit?
Some lenders in our panel specialise in bad credit car finance, so we may be able to help. However, approval depends on lender criteria and individual financial circumstances.
If you’ve been refused car finance elsewhere because of your credit score, we could still help. We work with a panel of lenders, some of which specialise in bad credit car finance.
Some of the lenders on our panel may consider applications from customers with CCJs, defaults, or IVAs. While options exist, approval is not guaranteed and will depend on affordability assessments.
Why come to us if you’ve been refused car finance?
A helping hand: For us, car finance is all about helping people improve their everyday lives. We believe that everyone who wants a car should have the opportunity to own one.
Dedicated account manager: You’ll have a dedicated account manager on hand to guide you through the process, so there’s nothing to worry about.
Finding you a deal that works for you: Whether it’s sorting out the school run, getting that big boot for the big shop, or a car you’re proud to park outside the office, we’ll explore options from our panel of lenders to try and find a finance deal that works for your circumstances, even if you’ve been refused before.
Get a no-obligation quote here today.