Motorly Lending Criteria

Motorly Car Finance is your gateway to affordable and convenient vehicle financing solutions in the United Kingdom.

With a commitment to making the car-buying process hassle-free and accessible to a wide range of customers, we offer a unique blend of flexibility and inclusivity.

Whether you’re a seasoned driver looking for a new set of wheels or a first-time car buyer eager to hit the road, Motorly Car Finance provides the means to turn your automotive dreams into reality.

Our application criteria is as per below;

Full UK Driving Licence: To be eligible for car finance through Motorly, you typically need to hold a full UK driving licence.

Full Time Employed: Applicants are generally required to be full-time employed. This indicates that you need to have a stable source of income from a job.

Minimum Income of £1200 per Month: There is a minimum income requirement of £1,200 per month. You should have a regular income that meets or exceeds this threshold to be considered for car finance.

3 Years UK Address History: Having a stable address history in the UK for at least three years is typically a requirement. This demonstrates stability and a degree of financial reliability.

Over the Age of 18: Applicants must be at least 18 years old. This is a legal requirement for entering into financial agreements.

UK Bank Account: You need to have a UK bank account. This is likely for the purpose of making monthly payments and processing financial transactions.

No Deposit Options: Motorly offers car finance options without requiring a deposit, which can be advantageous for those who don’t have a large sum of money to put down upfront.

Flexible Payment Terms from 24 to 60 Months: Borrowers have the flexibility to choose their payment terms, ranging from 24 to 60 months. This allows you to tailor the repayment schedule to your financial situation.

Multiple Lending Partners: Motorly works with multiple lending partners, which can increase the chances of finding a suitable financing option for your needs and credit profile.

IVA/CCJ Customers Are Welcome to Apply: Motorly may consider applications from customers who have previously experienced financial difficulties, such as individuals with Individual Voluntary Arrangements (IVAs) or County Court Judgments (CCJs). If you are currently in an IVA agreement you can be approved for finance with us.

Choose from Any Dealership in the UK: You have the freedom to choose your vehicle from any dealership in the UK, giving you a wide range of options.

 

Keep in mind that specific lenders or dealerships may have additional requirements or criteria that you need to meet. It’s important to carefully review the terms and conditions of any car finance agreement and ensure that you fully understand the terms before proceeding.