Refinancing? We can help.

Need to make a change now? You can apply to refinance your current car deal at any time. That said, it’s worth keeping in mind that some lenders will ask that you’ve had your existing loan for a set period (usually at least 12 months) before looking to switch things up.

Credit scores are affected by a whole host of different things, but refinancing will usually lower your score in the short-term. That’s because your new deal will be considered a new account on your credit report while also adding a new hard search and reducing the average age of your credit.
 
Don’t worry; this decrease should only be temporary. Once you start making your new loan repayments, your score will start to recover. In fact, if your new deal comes with more affordable repayments – and reduces the chances that you’ll miss a payment – refinancing could even improve your credit score over time.

Bad credit scores can happen for a range of different reasons. There’s no judgement here; if you’ve missed payments in the past, you might still be able to refinance.
 
Your options may be more limited and you’re unlikely to have access to the lowest APRs, but there are lenders who specialise in bad credit car finance. You could switch to a loan with a longer term and lower repayments (paying more interest over time) or refinance your PCP balloon payment.

When applying to refinance your car, you’ll likely need to provide:

• Proof of identity – such as a driving licence or passport
• Proof of income – including bank statements or payslips
• Proof of address – such as a Council tax statement or utility bill
• Proof of insurance
• Proof of settlement figure amount
• Vehicle registration documents