Self-employed
Car finance when you work for yourself
Self-employed applications are routine — the only real difference is how income is evidenced. Get that right and the process is no slower than anyone else's.
- Sole traders & directors
- Contractors welcome
- Personal or business finance
Finance Calculator
What could Hire Purchase cost?
Your illustration
- Amount of credit
- £14,000
- Illustrative APR
- 9.9%
- Total charge for credit
- £2,876.36
- Total amount payable
- £17,876.36
- 48 monthly payments of
- £351.57
Includes a £1 option to purchase fee. An illustration only — not a quote and not an offer of credit. Your rate depends on your circumstances and the lender. Finance is subject to status and income. Q-Finance is a credit broker, not a lender.
Q-Finance is a credit broker, not a lender. Our rates start from 8.9% APR. The rate you are offered will depend on your individual circumstances. Representative Example: Borrowing £8,000 over 60 months with a representative APR of 18.8%, the amount payable would be £200.34 a month, with a total cost of credit of £4,020.11 and a total amount payable of £12,020.11.
Ready to apply?
Talk to someone who has seen it before
Self-employed applications are routine for us. Tell us your setup and we will tell you what is realistic.
How lenders assess self-employed income
An employed applicant has payslips. A self-employed one has accounts, and lenders read them differently depending on how you are set up.
| If you are a… | Lenders usually want |
|---|---|
| Sole trader | Two years of accounts, or SA302s and tax year overviews |
| Limited company director | Salary plus dividends, evidenced by accounts or SA302s |
| Contractor | Current contract, plus recent bank statements |
| Newly self-employed | Whatever exists — some lenders accept one year |
Personal or business finance?
If the vehicle is genuinely for the business, business finance may be available and may have tax advantages worth discussing with your accountant. If it is a personal vehicle, standard consumer finance applies — with the consumer protections that come with it.
We can look at both. Which is better depends on your circumstances and how the vehicle will actually be used, so it is worth a conversation rather than a guess.
Making it straightforward
- Have two years of accounts or SA302s ready, plus three months of bank statements.
- Make sure your driving licence shows your current address.
- Be accurate about income — lenders verify, and an inconsistency causes more delay than a modest figure.
- Register on the electoral roll at your current address.
Common questions
Related reading
-
Impaired credit
Car Finance With Bad Credit
Car finance for impaired credit profiles. What lenders actually look at, how a soft search helps, and an honest view of what to expect.
-
Guide
What documents do I need for car finance?
The proof of identity, address, income and bank details lenders ask for, why they ask, and how to make the process quick.
Ready to apply?
Talk to someone who has seen it before
Self-employed applications are routine for us. Tell us your setup and we will tell you what is realistic.