Can you get car repair financing with bad credit?

Can you get car repair financing with bad credit?


Those of us who rely on our car to get to work or manage the school run know just how disruptive unexpected repairs can be. Leaving your motor at a garage for an oil change is bad enough, but what if you have a breakdown or your MOT finds a major issue?  

You know it's going to cost a lot. And let’s face it — you probably haven't set money aside for it.  

If you’re in this situation, a car repair loan can be a great way to finance the bill. But what if you're credit rating isn't great. Can you still get a loan? 

The good news is: ‘probably yes’. Let’s take look at what a car repair loan entails, and what lenders expect in terms of creditworthiness 

What is a car repair loan? 

It’s a loan or credit line designed specifically to cover car repairs. Most of the lenders specialising in car repair loans recognise that major repairs often land without warning, so they make sure they have a solution.

But what if my credit rating is poor? 

Any lender offering financing would prefer that a customer has good credit, however, car repair lenders offer loans for people with poor credit too. You may have to pay higher fees or take on a less attractive interest rate, but on the upside, you’ll be able to pay your bill and keep your car on the road. 

It's also worth looking into the car repair loans now being offered by manufacturers. Just bear in mind that not every dealership signs up to participate. And when they do, you may have to go in person to complete an application.   

After that, the number of payments you can spread the cost over are often restricted to two or three. For repair jobs above £2,000, the approval processes and credit checks can be more stringent.  

A better option 

As digital technologies continue to transform how we buy and pay for services, 'buy now, pay later’ (BNPL) platforms are giving consumers more options to pay for things flexibly.  

In the automotive sector, Bumper is the leading BNPL platform. We let you split a hefty repair bill into smaller, easy-to-manage, interest-free payments. 

It’s easy, and it works like this:

  1. Enter your vehicle registration number and postcode 
  2. Select a local repair centre from our network 
  3. Complete a simple credit application for up to £5,000 
  4. Receive your unique Bumper Code 
  5. Book your appointment 
  6. The whole process takes a matter of minutes 

When agreeing the cost of the repairs, just give your garage the Bumper Code. They’ll send a link to your smartphone, where you can choose how you want to spread out the payments. Pick the number of months and fix a date to complete the payments. You can even use Apple Pay or Google pay to set it up.  

Bumper ensures that you never pay more for servicing or repairs when spreading the cost. And the maximum credit limit you’ve been offered is never shared with the garage. 

So, if car repairs suddenly become a necessity, consider your financing options. 

Take the worry out of unplanned repairs 

At Bumper we’re committed to giving car owners more financial flexibility by taking the worry out of unexpected car repair costs and helping bring the automotive aftermarket into the digital age. 

Want to learn more? Visit our How It Works page and try the online calculator. 

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*By using Bumper, you are taking out a form of credit. You must be 18+ & a UK resident to apply. There are no fees, no interest or additional charges, however missed payments may incur a £12 administration fee and may impact your credit score. In extreme cases, recovering missed payments may include using a responsible debt collection agency, or as a last resort, taking legal action. Bumper’s instalment credit products are not regulated by the FCA.