Self-Employed Car Financing


Looking to buy a car but need some financing to afford the costs and you’re self-employed? At Simply, we know very well how much of a challenge it can be to secure approval for car financing when you don’t have an employer. However, our team of car credit specialists that works with our partner lenders are known to offer car loans for borrowers who are self-employed. Even when you’ve attempted to secure car financing elsewhere and you got rejected, we may still be able to assist you find good lenders.


Credit Check on Car Finance


We believe that having a poor credit history or a bad credit rating shouldn’t be reason enough for you to be refused car finance. This is why we will always do more than just look at your credit score when assessing whether or not to approve your car financing application to ensure that we will give you a fair chance for finance approval for a self-employed like you.


Among the many types of car financing applications we accept and approve on a daily basis are those coming from applicants who are self employed individual. Once approved, you have the option to buy any of the cars used or new offered by our network of car dealers or lenders operating in the UK or you can also choose your own car from your preferred dealer, provided that they are a reputable one and have good reviews.


Car finance repayment example:

To give you an idea of how monthly repayments are computed when you take out a loan— say, you want to borrow £7500 and you’d prefer to get it paid off within a 4 year period. You were offered 27.9% APR and an annual rate of 27.9%. You are not making any deposit as well. In this instance, your monthly repayment will amount to £244.77. This will bring the overall credit cost to £4248.96 and when added to the principal amount, will bring the payable amount to £11,748.97.


Remember that the final amount you will need to pay could likely differ from the representation above for some lenders. This is because the figures will be based on your individual financial circumstances.


Do remember that Simply is not a lender. We are a broker.


More information on self-employed car finance


We regularly assist people who are to secure self-employed car finance so it is always worth your time to check out what we have to offer and send in an application. We may require you to provide us with some supporting documents— for instance, a proof of income. However, whatever it is we will need from you should be explained to you in detail by one of the members of our specialist team.


At Simply, we work in partnership with a variety of lenders who may be able to offer a wide range of financing for car purchases. This puts us in a really good position to assist you in finding the right lender that will offer self-employed car loans.


Our commitment is ensuring that you don’t just get the right lenders with good reviews to offer you the right car financing but to also make sure that you will be offered and apply for loans that are within your means to repay. We will only proceed with arranging car financing essential for you when we are doubly sure that you can well afford it.


Bad credit car finance 


With so many financing options available for self-employed out there including bad credit car finance, it can get a bit daunting making a choice. However, we are here to simplify and streamline things for you. We will be there every step of the way to accept and assist you as you go through the process of signing up for car financing. Also, even when you have bad credit, provided that we can see that you have met our other criteria, we will be more than happy to get your application going and avoid a refused car finance problem.


Find out how we can better assist you today! We are experts not only in finding the perfect vehicle and right lenders for you we will be more than happy to help you fund it too!