My Car Credit Review |

My Car Credit

Last Update: June 25th, 2016

Address: Thompson Close, Chesterfield, S41 9AZ.
Branding: My Car Credit. AKA: MyCarCredit.
FCA Licence: 669005.
From: Evolution Funding Ltd.
Launched: 2013.
Memberships: Non.
Related: Evolution Funding.

Loan Details……
Bad Credit My Car Credit Finance Available?: Yes.
Financed Vehicles: Cars.
Manage: No My Car Credit login at
Opening Hours: Monday to Friday (9am/7pm), Saturday (10am/4pm).
Products: Conditional sale, hire purchase, personal contract purchase.
Sums: £1500 to £50,000 (new and returning).
Terms: 12 to 60 months.

The Pricing…
5.9% to 24.9% APR.

Notes: Dealerships can be recommended or you can use your own. They do offer a gateway to used motors through CarCliq that shows 112,000+ stock. No upper financing sum is disclosed.

– Amounts: The max sum is a high £50,000.
– Eligibility: All credit status applicants are considered. Interest is grouped in 5 brackets that includes Excellent (5.9%), Good (8.9%), Fair (10.9%), Poor (14.9%) and Bad (24.9%). The qualifying ins and out aren’t discussed, but they do use an extensive panel that should open more doors.
– Operations: Can reach their support team on Saturdays.
– Ownership: Evolution Funding that launched in 2002 is headlined as one of the fastest growing motor finance brokers in the UK (they do also have a lending department). During 2014 they funded in excess of 16,000 vehicle loans for both private and business users. Then in 2015 they were listed as one of London Stock Exchange Group’s “1000 Companies to Inspire Britain”. The control of Mike Brewer Motors is also notable, with that dealership being quite popular, alongside the well known founder at the helm.
– Panel: There is a huge panel of 22 lenders supporting this brand. One interesting point to raise is that the owner has their own lending division. They offer HP contracts for cars and LCVs on borrowing terms of £1000 to £10,000. Over the past 2 years they have funded over 1000 of their dealer’s customers and so this is quite a small number. It is clear that their primary goal is to progress as a leading broker rather than as as a lending solution.

– Non.