Black box car finance

The benefit of a black box scheme is that you could get pay-as-you-go car finance even if you have a bad credit score. This could be especially helpful for anyone who wants to finance a car but finds that they’re struggling to get accepted for traditional car finance deals.

Take the stress out of your search for an attractive car finance deal by placing your trust in Car Finance Genie. 

How we work.

Car finance made easy with 4 simple steps

1

Apply

Ready for a new car? Get a no-obligation finance quote. We consider most credit situations and have access to a wide panel of lenders, so we can find a car finance option which suits you

Apply now

Your car finance application

2

Get decision

We compare our panel of lenders and our experts will be able to outline the best options available to you if approved

3

Choose a car

With hundreds of trusted quality used cars available from our carefully selected dealers, your dedicated Genie will be on-hand to help find the right car for your needs and budget

4

Drive away

Wish granted. Complete all of the required documents and get the keys to your new car

The ultimate broker for black box car finance  

We are a broker rather than a lender, which leaves us in a strong position to bring you the best car finance deals from across our lending panel. Apply today for your free no-obligation quote. 

Frequently asked questions. 

The world of car finance, never mind black box car finance, can be a bit overwhelming – but it doesn’t have to be. Below, our team has answered some of the questions you may be especially likely to ask. 

What car finance should I look for? 

Motorists differ in their exact circumstances and needs, which also affects their requirements for car finance. This is one reason why it can be a very good idea to apply for car finance through a broker such as Car Finance Genie, as we will scour our panel of lenders to try to  help find the car finance that best suits your own needs.  

There are three main types of car finance a broker is likely to offer: hire purchase, personal contract purchase and personal leasing, along with a black box scheme. These types of finance will be outlined below among the FAQs.

What is hire purchase?

With this type of car finance, you could expect to pay a deposit – usually 10% and then repay the balance in instalments with interest, over the agreed repayment term. At the end of the loan period, the car will automatically become yours. However, you won’t own the car until the final payment has been made, and you won’t have the ability to sell it without the permission of the lender, although you will have the option to return it. 

Along with personal contract purchase (PCP), HP is one of the most sought-after forms of car finance. It differs from PCP in that, once you have completed the payments on the loan, you will automatically be the owner of the car; there will be no need to pay a final ‘balloon’ payment in order to acquire it. 

What is personal contract purchase?

This type of finance deal involves paying monthly instalments over a fixed period. At the end of this period, you will have the option to purchase the car with a lump sum, or instead return or exchange it. This can be an attractive option for those who wish to frequently change their car. 

PCP deals also tend to have mileage restrictions, and if you go over the stated limit, you will have to pay more. So, it is important to account for this if a PCP agreement seems of relevance to you. 

What is personal leasing?

This type of car finance involves low monthly payments, but it doesn’t give you the option to buy the car. As well as this, the overall leasing cost will be determined by a combination of the type of car, length of contract, and agreed mileage. 

Leasing a car involves finding a vehicle and paying a deposit on it, agreeing to a monthly payment and lease term, and driving the vehicle for that period, before returning it at the end of the lease term. It is similar to PCP, except that you don’t get to own the car. 

What is a black box car finance scheme?

Many people are familiar with the notion of having a black box fitted to their car, which tracks such things as their speed, braking and cornering to demonstrate to insurers how the person using the car drives it. This, in turn, allows the insurer in question to provide a personalised price. 

The ‘black boxes’ you might see being referred to in the world of car finance, however, are not the same thing as this. Indeed, such boxes won’t track your driving style at all – instead, they are merely designed to help you stay up to date with the repayments on your car finance. 

It’s all very simple; the ‘black box’ is a small device that will be placed somewhere in your vehicle, such as under the dashboard or in the glove box, and as long as you keep up to date with your repayments, you won’t be required to do anything. If, however, you fail to keep up with your repayments, your vehicle might be immobilised. 

What types of vehicles are available to purchase?

Almost any make, model or type of car that might come to mind, you could at least theoretically obtain through a car finance deal. Here at Car Finance Genie, our well-developed relationships with various carefully vetted dealers allow us to provide applicants for car finance with access to hundreds of quality used cars from a generous vehicle stock. 

So, whether you want to get behind the wheel of a city runabout, supermini, family hatchback, executive saloon, or almost any other vehicle, we could help you make it a reality through an excellent black box car finance scheme. 

Even if there’s a particular vehicle you want that you can’t find in our existing stock, we have a vehicle sourcing team on hand to help you find it. 

When you are purchasing a new car, there are naturally various important things to bear in mind when making your choice. You will need to make sure your chosen car has all the features you want it to have, including any essential interior and exterior equipment. If photos are available of the car you’re considering, you should also carefully peruse them to assess the vehicle’s condition. 

Can I get car finance even if I have a poor credit history? 

Yes, even if you don’t exactly have a perfect credit score, it might still be possible for you to be approved for car finance. Although it can never be guaranteed that any given person will be able to obtain car finance, here at Car Finance Genie, we work closely with lenders that specialise in helping people who may have been turned down for car finance elsewhere. 

So, even if you feel you are unlikely to be granted car finance, it could still be worth making a free no-obligation application through us. Depending on the lender, you may also be able to take advantage of flexible payment options, and might not even need to pay a deposit.