Get Me Car Finance Loans Review of 2020 - Apply Now
Last updated: 18th Jan 2020

Get Me Car Finance Review


GetMeCarFinance (GMCF) is a lender/broker as well as a supplier of vehicles operating in the UK. The company offers car financing options at a representative APR of 27.4%, either directly or through other lenders in its pool. A major value that GMCF provides to its customers is that it facilitates them in finding the most suitable car in addition to providing them with the financing they need to buy the car. The cars provided by the lender also carry a 6 months warranty with them. In addition, borrowers may also buy cars from any dealership across the UK with financing from GetMeCarFinance. GMCF is also regulated by the Financial Conduct Authority.

Also Check: Car Finance for UK Citizens

Types of loans

GMCF facilitates the provision of car financing loans for both new and used vehicle purchases.

  • Loans are available between the range of £3,000 to £50,000.
  • The loan term provided by the lender spans between 12 months to 48 months.
  • The APR charged on the loan varies according to the credit rating of the borrower.
  • The company does not require any initial deposit to be made when applying for car financing through it.

GMCF is one of the few car finance providers in the UK that processes applications even for borrowers with a bad credit history. However, the rate being charged to those having a bad credit is significantly higher compared to those having an excellent credit history. Although this vast difference in APRs is understandable considering the risk of default is higher with a borrower having bad credit history, the applicable APR may still be a point of concern for many borrowers and should push them to reevaluate their need for the loan.

The amount that is actually approved for the loan depends entirely upon two things: the ability of the borrower to repay the loan and the price of the chosen vehicle. The ability of the borrower to repay the loan depends on the existing credit history as well as on the affordability of the borrower. Simply put, the borrower must have enough regular income to comfortably make the monthly loan repayment, after deducting all monthly expenditure. The monthly loan repayment is deduced from the price of the vehicle the borrower wishes to buy.

  • Whether an initial deposit is required or not depends entirely upon the lender that accepts the loan application.
  • It takes an average of 1-2 business days for a loan application to be processed.
  • Borrowers may approach any dealership operating in the UK to select the vehicle they need financed through GMCF.

Eligibility Criteria

The eligibility criteria to secure a loan through GMCF is as follows. Borrowers must:

  1. Be at least 18 years of age
  2. Have employment that is either part-time or full time. Applicants on benefits can also apply. Self-employed applicants are also eligible.
  3. Have a minimum monthly income of at least £400.
  4. Have residence history in the UK of at least 6 months
  5. Own a drivers license

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Pros & Cons

The following pros are associated with the services being provided by GMCF:

    • Allows borrowers with bad credit or those on benefits to take out a loan

Applicants that have a poor credit record are also welcome to apply for a loan with GMCF to buy a car. Loan options may also be available for those who can show only benefits as monthly income.

    • Facilitates the car purchasing process

Instead of requiring borrowers to submit relevant documentation for the vehicle they intend to buy and then make the purchase of the vehicle after the loan is disbursed to them, GMCF connects with the dealership directly to process the purchase of the vehicle and pays the dealership directly with the approved loan funds. Borrowers simply have to file the loan application, provide required documents, and select the car that they wish to buy, and GMCF does the rest.

    • Fast application processing times

GMCF is able to process a loan application within 2 business days of the initial filing, depending upon the time it takes the borrower to find a car they wish to purchase.

    • May offer loans to applicants who may find it difficult to repay them

Although the company ensures that a borrower is able to make the monthly repayments, loan applications are still considered from applicants who have a very bad credit history. Also, the very bad credit history category is charged an APR of over 75%, which means they have to pay a higher monthly repayments compared to those who have a better credit record. However, it’s entirely possible that those with a bad credit history are able to repay the loan due to stable and regular monthly income.

Borrowing costs of loans obtained through GMCF

The representative APR being charged on loans taken through GMCF is 27.4%.

This means that, on a loan amount of £7,500, borrowers would have to repay and approximate £11,828.83 over a loan term of 48 months. The total charge they would have paid on this loan is £4,328.83.

GMCF does not charge any arrangement fee on the loans provided to borrowers.

The applicable APR on the loan amount varies according to the credit rating of the borrower. For example,

  1. Excellent rating, 5.4% APR
  2. Good rating, 9.7% APR
  3. Fair rating, 29.8% APR
  4. Bad rating, 49.6% APR
  5. Very Bad rating, 79.6% APR

The following table illustrates the different loan scenarios borrowers may experience if they apply for a loan with GMCF.

Credit Rating Loan Amount Loan Term Total Repayable Charge of Credit
Excellent £6,000 24 months £6,343.31 £343.31
Fair £6,000 24 months £8,036.63 £2,036.63
Very Bad £6,000 24 months £12,153.85 £6,153.85
Excellent £15,000 24 months £15,858.27 £858.27

Information Required To Apply

The following information is required to be submitted by the borrower when applying for a car financing loan with GMCF:

  1. Full name
  2. Information pertaining to a valid UK driver’s license
  3. Marital status
  4. Whether borrowers hold a valid UK passport
  5. Date of birth
  6. Employment information including
  7. nature of employment (part-time, full-time, self-employed, etc),
  8. name of employer,
  9. job title,
  10. number of years and months in employment,
  11. net monthly income.
  12. Address information

How To Apply With Get Me Car Finance?

The application process to apply for a car financing loan with GMCF is linked with the acquisition of the vehicle that borrowers want to buy.

The online application form to apply for a loan with GMCF is available on this link: Upon visiting this webpage, applicants will find the following options.

Step 1

Applicants need to select the loan amount that would be sufficient enough to afford the vehicle of their choosing. Selecting the appropriate options and then clicking on the Get Started Now button will start the application process. Applicants are expected to progress through the form by answering as accurately as possible. After the application form has been submitted, GMCF will process it and find the most suitable loan option among its pool of lenders.

After clicking this button, the application form is displayed (shown below). Borrowers are expected to fill out all the details as stipulated in this application form to get a quote.

After a loan limit has been approved with a lender/broker, the next step in the application process is to finalize the vehicle that the borrower will purchase by using the funds acquired through the loan. Borrowers may find this vehicle in a number of ways. The first way is to use the car finding facilities being offered by GMCF, such as its online tool or the existing stock of the company. Another way is that borrowers conduct their own search for a suitable vehicle, which would require them to explore dealerships in the UK. Borrowers can approach any dealership to make the purchase, as GMCF has placed no restriction with respect to the dealerships that borrowers may approach.

After a loan has been approved with a lender and the borrower has intimated to GMCF about the vehicle they wish to buy and the dealership that holds it, GMCF will take over and process the relevant paperwork that needs to be signed by the borrower and the dealership to finalize the loan agreement and purchase of the car.

As soon as the borrower has signed the loan agreement, GMCF will pay the dealership directly for the vehicle that is to be purchased for the borrower. At this point, the borrower may simply pay the dealership another visit and take away the vehicle without any additional paperwork.


GetMeCarFinance, as per its website, typically takes between 1 and 2 business days to process a loan application. However, to complete the entire process, borrowers need to select a car at any UK dealership and intimate GMCF about it as soon as possible. Once GMCF comes to know about the car the borrower needs, the company will directly approach the dealership and make a purchase with the approved loan funds. After that, borrowers may simply visit the dealership and take the vehicle home.

The company does not give any information on its website pertaining to options usually provided to borrowers of car finance loans, whereby they are able to finalize a loan agreement before the end of the loan term either by paying off the outstanding loan balance in one lump-sum amount or by returning the car to the lender. Applicants can discuss exit strategies with the lender before agreeing to take the loan. Usually, car finance loans are provided as hire purchase agreements. Under this agreement, borrowers don’t own a vehicle until the entire loan amount is repaid and, if borrowers wish to exit, they can return the car.

Yes, GMCF does process loan applications for applicants who have a bad credit score. However, the APR that is charged on these loans may be significantly higher compared to those given out to applicants with an excellent credit history. For example, according to GMCF, borrowers with an excellent credit score may expect an APR of 5.4%, while those with a very bad credit rating can end up paying an APR of 79.6%.

According to GMCF, loan applications requiring amounts of up to £50,000 will be considered by the company. However, the maximum amount approved is the price of the vehicle.

Getting a car finance loan impacts the borrower’s credit score just like any other loan taken out from any source. Hence, timely monthly repayments reflect positively on the credit score, while missing payment timelines impacts it negatively. However, since car finance loans are usually secured loans as they have a vehicle as collateral, they are offered at a lower rate compared to cash loans available in the market. This may make it easier for borrowers of car finance who have a bad credit history to build up their credit score and qualify for cheaper loans in the future.

Lenders Like GetMeCarFinance

GetMeCarFinance is both a lender and a broker for car finance loans, but it is not the only one operating in the UK. If you are not completely convinced about the services being offered by GMCF and wish to look at alternative options as well before you make an informed decision, then look at the following table. These are some alternative options, and all of them have also been reviewed and rated by Credit Raters.

Broker/Lender Description
CarFinance 247 (Broker) CarFinance 247 is a car finance broker operating in the UK. Representative APR is 27.4%. Loan amounts are offered between the range of £2,000-£40,000 for a period of 1-7 years.
What Credit (Broker) What Credit is a car finance broker offering loans between the amounts £3,000-£50,000. Loan term ranges between 6-60 months. Representative APR is 29.9%.

GetMeCarFinance Promo Codes

No promo codes are available for GetMeCarFinance at this time.