Car finance can affect your credit score in both directions. Consistent, on-time payments build a positive credit history and may improve your score over the life of the agreement, demonstrating to future lenders that you can manage credit responsibly. Missed or late payments have the opposite effect, they are reported to credit reference agencies and can lower your score, making future borrowing harder or more expensive. Applying for finance also creates a hard credit search, which may cause a small short-term dip. Settling your agreement in full further strengthens your credit profile. For more detail, read our guide on Credit Checks for Car Finance.
Late or missed AutoMoney Trust car finance payments may be reported to the main UK credit reference agencies and can remain on your credit file for up to six years. This may lower your credit score and make it harder to borrow in the future, with lenders potentially offering higher rates or declining applications. The impact depends on how late the payment is and whether arrears continue. If you are struggling, it is better to contact us early than to miss a payment, as we may be able to help. For more detail on how lenders review applications, see our guide to credit checks for car finance.
Yes, AutoMoney Trust accepts applications from customers with a lower credit score, as we look at your wider financial situation rather than relying on a single number. Affordability, income stability, current commitments, and recent credit conduct are all considered. A lower score may affect the rate you are offered or the amount you can borrow, but it does not automatically rule out approval. Applications remain subject to status and affordability checks. If you are ready to see your options, you can start an application online and receive a decision in minutes.
Yes, car finance may still be available with poor credit, although approval depends on your wider financial circumstances rather than your credit score alone. AutoMoney Trust specialises in helping customers who have been declined elsewhere, including those with CCJs, defaults, or limited credit history. We assess affordability, income stability, and current commitments alongside your credit file. Poor credit may mean a higher interest rate or a smaller borrowing amount, but it does not automatically rule you out. You can explore finance options by completing a short online application, with a soft search that won't affect your credit score.
If you fall behind on payments, AutoMoney Trust will contact you to discuss your situation. Continued missed payments can result in default interest, reminder letter fees, and a record on your credit file for up to six years. If arrears remain unresolved, the agreement may be terminated and the vehicle could be repossessed, though under UK law, once you have paid one-third of the total amount payable, we need a court order to take the car back. You may still owe money after repossession if the resale value does not cover the outstanding balance. For support, visit our Existing customers page or contact us early to avoid this.
