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Car finance on a debt management plan
A debt management plan is an informal arrangement to pay your creditors at a rate you can manage. Unlike an IVA it is not legally binding, so nobody's permission is needed to take on credit, but your DMP payments are part of your outgoings, and that is exactly what a lender will look at.
- FCA-authorised credit brokerNot a lender · FRN 954552
- No credit check until you say soSoft search only, no impact on your score
- Real dealership in KirkhamBlackpool Road, PR4 2RE · open 7 days
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- Collect from KirkhamDelivery may be available
People on DMPs do get car finance approved. The deciding factor is almost always affordability rather than the plan itself.
What a lender is actually assessing
- Your disposable income after the DMP payment. This is the whole question. If the monthly finance payment fits comfortably alongside your plan, you are in reasonable shape.
- How long the plan has run. Twelve months of consistent payments is strong evidence. Three months is thin.
- Whether the car replaces a bigger cost. If you are currently spending more on taxis, hire or an unreliable car, say so. It is relevant and it is checkable.
Be straight with your DMP provider too
Taking on a car finance agreement changes the budget your plan is built on. Tell whoever administers your DMP before you commit; they may need to recalculate your payments, and a lender approval that quietly breaks your plan helps nobody.
Our honest advice
Aim lower than you think. On a DMP the approval usually comes on a cheaper car with a smaller monthly figure, and that is also the agreement most likely to survive the next two years without trouble.
Finance is subject to status, affordability and lender approval. Over 18s, UK residents only. We only run a soft-search eligibility check after we have spoken to you and you have agreed to it. A soft search does not affect your credit score and is not visible to other lenders. We are a credit broker, not a lender.
Three straightforward steps
No pressure at any point, and you are free to stop whenever you like. A hard credit search only ever happens at full application, and we will tell you before it does.
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Tell us where you stand
A short form, about two minutes. Sending it does not run any credit check by itself and puts you under no obligation.
No credit check at this stage -
We call you before anything is searched
A person reads your enquiry and phones you. Only once you have agreed do we run a soft-search eligibility check with lenders on our panel who consider adverse credit. A soft search leaves no footprint and other lenders cannot see it.
Invisible to other lenders -
We come back with honest options
Real figures on real cars from our Kirkham forecourt, or a straight explanation if we cannot help right now. You choose whether to go ahead.
Collect from Kirkham or ask about delivery
Work out a monthly figure you are comfortable with
£250.96 / month (illustrative)
These figures are illustrative only and not an offer of finance. They use the representative APR; your rate and payment depend on your circumstances and the lender's decision. Finance is subject to status, affordability and lender approval. Over 18s, UK residents only.
Cars available on finance
Audi A6 Avant 2.0 TDI ultra SE Executive
*Estimated monthly figures are illustrative, based on the representative example in the footer.
Do I need permission to get finance while on a DMP?
No. A DMP is informal, so unlike an IVA there is no legal requirement for permission. You should still tell your DMP provider, because it affects the budget your plan is based on.
Does a DMP show on my credit file?
The plan itself is not recorded, but the accounts within it are, usually as arrangements to pay, partial payments or defaults. Lenders see those.
How much can I realistically borrow on a DMP?
It depends entirely on your disposable income after the plan payment. We will work backwards from a monthly figure you are comfortable with rather than starting from a car you like. Subject to status and affordability.
Our promise: we will tell you if we cannot help, and why. No one can guarantee car finance, and anybody who says otherwise is selling you something.
Two minutes. Soft search. Straight answer.
Tell us where you stand. It takes about two minutes, sending the form does not run a credit check by itself, and there is no obligation.
Finance is subject to status, affordability and lender approval. Over 18s, UK residents only. Credit broker, not a lender.