Finding the Right Finance to Suit Your CircumstancesIf you have a poor credit score, have an unreliable income or have been refused finance before, you might think that buying a used car on finance is out of your reach. However, we're here to show you that might not be the case! At Carbase, we offer two fantastic finance options, both of which have their benefits and may just suit your requirements.Let's look at the various situations you may be in and see what used car finance options could be a good fit.Check Your Budget >Checking your budget with our free finance checker is quick, hassle-free and doesn't affect your credit score. Poor creditHaving a poor credit score can restrict you when it comes to making some financial commitments and if you need a car to get to work or carry out other daily activities, this can be a tough situation to be in. Fortunately, there's a chance that you could qualify for our Hire Purchase (HP) car finance for poor credit product.HP quite simply means you're hiring the used car you've chosen to purchase, until you make the final payment when the car becomes yours and you've successfully purchased it. The finance company owns the car until you've made the final payment, so the car acts as 'security' for the arrangement. If you don't keep up with your monthly payments, the finance company will repossess the car.Free Finance Check > First car buyerUnless you're very lucky, you've probably got a limited budget for buying your first car. After all, those driving lessons and exams weren't cheap! PCP (Personal Contract Purchase) is a great option for first time buyers due to its unique features that provide financial flexibility, lower monthly payments, and the possibility of upgrading to a new car more frequently.PCP allows you to pay a low initial deposit and then spread the remaining cost of the car over a 24-60 month period; at the end of this period, you have the flexibility of three options:Retain: make the final payment and keep the carReturn: choose to return the carRenew: part exchange the car for a newer/different modelPCP Finance Calculator >You don't need to worry about your vehicle declining in value with PCP, as you can always choose to get a new car, or give it back, at the end of your contract. This flexibility is great for anyone whose circumstances may change over the years, particularly those who have a small budget or want more options regarding what happens with the vehicle at the end of the deal. Transitioning from car to car has never been easier, and the equity you build up throughout the arrangement allows you to finance that next vehicle. Family/stretched incomeIf you're on a tight budget or simply don't want to devote too much money to buying a new car because you have so many other important outgoings, then Hire Purchase (HP) is an excellent solution.HP is the most straightforward of our finance options and it's flexible, so it can be crafted to meet your specific needs. For families (or anyone) on a budget, it's important to know how much you'll need to pay each month - the interest rates and monthly payments you make are fixed, meaning you know exactly how much to budget for each month.Hire Purchase schemes come with flexible deposits so you just pay what you can at the start and then make the remaining monthly payments afterwards. If you happen to come into some money, you can even choose to settle the agreement early with no penalty, and the car becomes yours as soon as you make the final payment.HP is a great option for those drivers who want to be able to afford a better car than they could buy with just their cash alone, and it has no restrictions on the amount of mileage you can do. Car finance on benefitsIf you're on benefits, you may think that obtaining a car on finance is out of reach. However, there are several car finance options available that can help you secure your dream car even if you are on benefits with bad credit.We have personalised finance options to meet individual needs depending on your own circumstances,If you're worried about loan eligibility, talk to one of our friendly team members who can explain everything and guide you through the affordability.While securing car finance on benefits may seem challenging, there are steps you can take to improve your chances of approval, including saving for a deposit, choosing a budget-friendly car and building a strong credit history. How can Carbase help?Of course, there are other financial options when it comes to buying a used car, all of which we cover on our blog 'What's the best way to finance a used car?'. However, if you believe the options detailed above could be perfect for your situation, you can find out more here or by getting in touch with us. We're more than happy to answer any questions you may have, and tailor each arrangement to your individual needs. Sub-prime finance is not guaranteed and may cost more than finance provided by a prime lender. We will try to obtain finance for you but there is no guarantee. It may be from a sub-prime lender, and if so, the cost of finance may likely be at a higher rate than prime lenders offer.