Lending criteria

Everything you need to know about your application

It’s good to know that even at application, a finance agreement is still not guaranteed with us.

We will need to receive copies of the documents listed in your application email. Every application is unique and has different requirements, so please discuss with your Moneybarn Direct Consultant exactly what is needed from you. Find out what documents you might need to apply for car finance with our guide.

Your finance is not guaranteed until we are satisfied that you, the vehicle and the dealership fully meet our criteria.

Everything you need to know about your application

It’s good to know that even at application, a finance agreement is still not guaranteed with us.

Your finance is not guaranteed until we are satisfied that you, the vehicle and the dealership fully meet our criteria.

Car criteria

You must be aged between 20 and 75 at the point of application (subject to affordability)
You could borrow a minimum of £4,000 to a maximum of £35,000 (subject to affordability)
The maximum agreement length is 5 years / 60 months
The car can have a mileage up to 120,000 at the start of the agreement (depending on your loan offer)
No more than 15 years old by the end of the agreement (depending on your loan offer)
The car must have a retail value of at least £4,000, and a deposit may be required.

Car criteria

You must be aged between 20 and 75 at the point of application (subject to affordability)
You could borrow a minimum of £4,000 to a maximum of £35,000 (subject to affordability)
The maximum agreement length is 5 years / 60 months
The car can have a mileage up to 120,000 at the start of the agreement (depending on your loan offer)
No more than 15 years old by the end of the agreement (depending on your loan offer)
The car must have a retail value of at least £4,000, and a deposit may be required.

Van criteria

You must be aged between 20 and 75 at the point of application (subject to affordability)
You could borrow a minimum of £4,000 to a maximum of £35,000 (subject to affordability)
You will be required to put down a deposit (amount subject to affordability)
We do not finance VAT
The maximum agreement length is 5 years / 60 months
The van must not be older than 12 years at the end of the agreement
The van can have a mileage up to 125,000 at the start of the agreement
We do not finance base chassis vans, minibuses or vans that have had specialist body work such as cherry pickers.

Van criteria

You must be aged between 20 and 75 at the point of application (subject to affordability)
You could borrow a minimum of £4,000 to a maximum of £35,000 (subject to affordability)
You will be required to put down a deposit (amount subject to affordability)
We do not finance VAT
The maximum agreement length is 5 years / 60 months
The van must not be older than 12 years at the end of the agreement
The van can have a mileage up to 125,000 at the start of the agreement
We do not finance base chassis vans, minibuses or vans that have had specialist body work such as cherry pickers.

Motorbike criteria

You must be aged between 20 and 75 at the point of application (subject to affordability)
You could borrow a minimum of £3,600 to a maximum of £15,000 (subject to affordability)
A deposit of £400 may be required, subject to your credit rating
The maximum agreement length is 5 years / 60 months
If you have a CBT licence your maximum agreement length is 36 months
The minimum engine size we finance is 125cc
The motorbike must not be older than 25 years old at the end of the agreement
The motorbike can have a mileage up to 30,000 at the start of the agreement
If you do not have a full motorbike licence then we will need a copy of your CBT certificate and provisional licence
We require a copy of your driving licence and the motorbike advert showing the mileage, price and year of registration.

Motorbike criteria

You must be aged between 20 and 75 at the point of application (subject to affordability)
You could borrow a minimum of £3,600 to a maximum of £15,000 (subject to affordability)
A deposit of £400 may be required, subject to your credit rating
The maximum agreement length is 5 years / 60 months
If you have a CBT licence your maximum agreement length is 36 months
The minimum engine size we finance is 125cc
The motorbike must not be older than 25 years old at the end of the agreement
The motorbike can have a mileage up to 30,000 at the start of the agreement
If you do not have a full motorbike licence then we will need a copy of your CBT certificate and provisional licence
We require a copy of your driving licence and the motorbike advert showing the mileage, price and year of registration.

Dealership criteria

Dealerships can be franchised (i.e. Ford, Honda etc.) or not franchised
The dealership must have a physical showroom or forecourt
The dealer must be VAT registered
The dealership must have a website with vehicles listed on it, and a landline number.
The dealership must have an FCA number, which shows they are regulated by a financial body. Don’t worry we will check this for you, but it’s to make sure you are protected as a customer.

Dealership criteria

Dealerships can be franchised (i.e. Ford, Honda etc.) or not franchised
The dealership must have a physical showroom or forecourt
The dealer must be VAT registered
The dealership must have a website with vehicles listed on it, and a landline number.
The dealership must have an FCA number, which shows they are regulated by a financial body. Don’t worry we will check this for you, but it’s to make sure you are protected as a customer.

Self-employed criteria

We can provide self-employed car and van finance to those that meet the following criteria:

Monthly earnings over £1,300 (before tax)
Aged between 20 and 75
A full valid UK driving licence
Tax returns or CIS vouchers
2 consecutive months of payslips (this applies to contractors only)

We can provide self-employed motorbike finance to those that meet the following criteria:

Monthly earnings over £1,300 (before tax)
A deposit of £0 or £400 (subject to affordability)
Aged between 20 and 75
Valid A1, A2 or A UK motorbike licence or a valid CBT certificate
Tax returns or CIS vouchers
2 consecutive months of payslips (this applies to contractors only)

We can provide self-employed car and van finance to those that meet the following criteria:

Monthly earnings over £1,300 (before tax)
Aged between 20 and 75
A full valid UK driving licence
Tax returns or CIS vouchers
2 consecutive months of payslips (this applies to contractors only)

We can provide self-employed motorbike finance to those that meet the following criteria:

Monthly earnings over £1,300 (before tax)
A deposit of £0 or £400 (subject to affordability)
Aged between 20 and 75
Valid A1, A2 or A UK motorbike licence or a valid CBT certificate
Tax returns or CIS vouchers
2 consecutive months of payslips (this applies to contractors only)

If you have an IVA

If you are currently within an IVA we will require permission from your IVA practitioner that they are happy for you to enter into a financial agreement with us. This will need to be on letter headed paper, state what your monthly repayments will be and the length of your finance agreement.

Your Direct Sales Consultant will provide you with a form that your IVA practitioner will need to sign if they cannot provide the above letter.

If you have an IVA

Your Direct Sales Consultant will provide you with a form that your IVA practitioner will need to sign if they cannot provide the above letter.

Buying your next vehicle

You want to make sure you purchase a reliable vehicle, which doesn’t break the bank. That’s why we’ve put together this helpful guide.

Being self-employed

We consider applications even if you’re self-employed and have bad credit so we might be able to offer you finance even if other lenders have rejected your application.

Our application process

It is important to completely understand the car finance agreement that you may be entering – find out more about how a conditional sale agreement works.

For a better road ahead

Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.

Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.

Moneybarn’s VAT registration number is 180 5559 52.

Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)

Moneybarn No. 1 Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)

Representative example: Total amount of credit £8877. Repayable over 56 months, 55 monthly payments of £283.33. Representative 30.7% APR (fixed). Deposit of £778.76. Total charge for credit £6706.15. Total amount payable £16,361.91. Subject to status and affordability. You could risk losing your vehicle if you do not keep up payments.