We know that providing proof of income isn’t always possible. If you’re unemployed, self-employed, a student or retired, don’t worry — we work with a broad range of lenders, some of whom accept applications without proof of income, to help you secure the best car finance deal available.
Securing car finance without being able to provide a payslip can be difficult, as lenders assess your ability to repay the loan and may view unemployment as a risk to financial stability.
That said, some lenders may still offer finance options without a current payslip, considering other factors such as your credit history.
A larger deposit can improve your chances, and applying with a guarantor who has a stable income may also help support your application.
It is possible to apply for car finance with a low income, though approval will depend on affordability checks and individual lender criteria. While some lenders may consider applicants on lower incomes, it can be more challenging to secure finance and interest rates may be higher.
There is no fixed income threshold that guarantees approval or refusal.
Lenders assess a range of factors, including your credit score, borrowing history, the type and amount of finance requested, and the vehicle you wish to purchase.
Although a low income can make approval more difficult, some lenders offer options designed for people on lower incomes, including specialist lenders who focus on bad credit or applicants receiving benefits.
It is possible to get car finance without providing payslips. Some people naturally won’t have payslips that show their income, for example if they’re self-employed, retired, or in receipt of benefits. There may be other ways that a lender can prove your income, even if you don’t have a payslip to hand. Our specialist team is on hand to help you find tailored finance options.