Annabelle Clarke

PR Manager

Annabelle Clarke | Author

Eduardo Rodrigues

Content Writer

Claudia Tuñón

Isobel Coughlan

Joseph Law

Bumper Content Writer

Alastair Shephard

If you find yourself struggling to afford your car payments in the UK, maybe because of the soaring cost of living or your circumstances have changed, don’t panic. 

We understand it’s a very worrying situation but we’re here to help. 

We’ll walk you through what to do when you can’t pay your car finance anymore, and explain your options. 

We’ll show you that you can manage the situation and relieve the pressure on your finances - not to mention the pressure on you.

The first thing you should do is get in touch with your lender. 

Not paying your car finance means you’re breaking your contract, it’s important to be open with the car finance provider straight away. 

They’ll appreciate the fact that you’re being proactive and that you want to make the situation right. 

What Will Happen If I Can’t Pay My Car Loan Repayments?

There are a few possibilities when you stop making your car repayments. 

This is likely the order in which things will happen.

Firstly, your lender will write to you when you miss a payment to discuss your situation and the possible options to get you back on track. 

If you miss more payments and don’t contact them they’ll issue a default notice. This will be recorded on your credit file. 

Further missed payments could then result in late payment penalties. 

These fees can vary between lenders but you can check how much your lender charges in the small print of your contract. 

Missing several payments could result then mean a County Court Judgment being made against you. 

A CCJ is an official demand for repayment by the lender. We’ll talk more about how late car payments affect your credit file and credit rating a little further on. 

Finally, as a last resort, your car may be repossessed. 

This will only happen if you’ve missed several payments and you simply can’t make them up. 

Or if you’ve not been in touch with the lender, and are deliberately avoiding them. 

Many lenders will work with you to find a solution, and repossession is always the final option for them. 

Apart from a genuine concern for clients, it’s also in a finance company’s interest to keep these agreements going. 

Here at Bumper, we’ve spoken to people who work at car finance companies and they’ve assured us that repossession really is a last resort. 

Don’t worry when you get in touch with them – contacting them quickly is the best move you can make.

Will late car finance payments affect my credit score? 

Yes, missing car loan payments can lower your credit score. 

Your credit score reflects how well you’ve repaid loans and credit agreements in the past, so not keeping on top of your car payments will result in a lower credit score.

This could be a problem in the future as lenders use your credit score to decide whether or not you can borrow. 

Another issue is that the default marker and County Court Judgment stay on your credit file for six years. 

This can significantly reduce your chances of getting a good mortgage or loan deal in the future. 

What are my options when I can’t afford my car payments? 

The most common options for someone struggling with car payments are to do the following:

Let’s go over each of these options in more detail.

Can I give my car back to the finance company? 

You might be able to hand your car back depending on the type of finance you’ve taken out and how much is left to pay. 

Personal Contract Purchase (PCP) and hire purchase (HP) contracts

 do let you return the car – a process called 

However, this is only an option if you’ve repaid 50% or more of the loan (including fees and interest). 

If you haven’t repaid over 50% you can pay the difference as a lump sum, although we appreciate this might be difficult when you’re struggling to make your repayments. 

Something else to consider with voluntary termination is that, if you’ve repaid more than 50% of the loan, you’ll lose that extra money if you hand the car back. 

In our opinion, voluntary termination is a better option if you have an HP agreement rather than a PCP. 

This is because with Personal Contract Purchase you’ll also have to make the large final payment, which might be difficult to fund. 

Refinancing for cheaper monthly payments 

means taking out a new loan that has better, more affordable terms. The new lender then repays your original loan. 

A cheaper monthly payment is the goal of refinancing, and you can achieve this via a lower interest rate or longer loan term. 

This might sound ideal in theory, but you do need to be a little careful with refinancing, as you can pay significantly more money overall. 

On the plus side, the lower monthly payments help with the immediate financial pressure you’re under. 

If you’re interested in refinancing the first thing to do is find out from your lender how much they need to settle the loan. Then search for any available deals with other finance companies. 

If you want to part-exchange your car for a cheaper one, again, you’ll have to ask for a settlement figure from your lender. 

You’ll also need to find out how much your car is worth. You can do this online but you could also visit a few car salesrooms for a value. 

Hopefully, your car will be worth more than the settlement figure and you can part-exchange for a cheaper vehicle.

If the car is worth less than the amount you need to settle the loan you’ll have to find the difference yourself, which may or may not be possible.

 that might be helpful in this situation.

This means you borrow the difference between your car’s value and the loan settlement figure. For this to work, though, you’d need to find a much cheaper car so the monthly payments do reduce. 

Are there any organisations that can help? 

 offer free help and moral support to people struggling to repay car finance and other types of borrowing. 

They provide confidential independent advice to help you find a way out of your current financial difficulties. 

 is another source of free support if you can’t afford to pay your car finance. 

They offer an online and telephone service, but also Webchat, so you can quickly ask a question or find out more information from a trained debt adviser. 

Hopefully, this article has given you a plan of action to help if you find yourself unable to pay car repayments. 

The key step is to contact your lender before you actually miss a car payment if you can and to be open in explaining why you can’t afford your repayments. 

Even if you’ve missed a payment they should respond positively if you do this, and you’re also giving yourself the best chance of relieving the debilitating pressure of financial difficulty. 

Fit car repairs, services, MOTs, and accessories into your monthly budget with Bumper. Split the cost into monthly payments, completely interest-free. Choose from over 1000s garages and dealerships.

has been writing about cars for over seven years and writing for Bumper for over two, blending his passion for automobiles with a talent for storytelling.

Joseph has written about engineering and cars for Autozilla, Komaspec, and several engineering manufacturers. When he's not writing or tinkering with one of his five cars, Joseph dreams of owning an Alfa Romeo 33 Stradale.

What Happens If You Can't Afford Your Car Payments

Gearboxes can be manual or automatic. Whilst in the UK the number of automatic vehicles is rising, the majority of cars are still manual. This is an important distinction to make as in this article we're going to talk about gearbox oil changes, their cost, why they’re important and even if you can perform them yourself.

, its primary function is to lubricate and cool the internal components of the gearbox, ensuring smooth gear changes and extending the lifespan of these sensitive mechanical parts.

Without proper lubrication from gearbox oil, the metal gears inside your car's transmission would grind against each other and cause significant damage over time. This can lead to expensive repairs or even complete failure of the transmission system altogether.

What's the difference between gearbox oil and transmission fluid?

Gearbox oil is specifically designed for manual transmissions and helps lubricate gears and bearings while preventing corrosion and wear. Automatic transmission fluid (ATF) serves a similar function but also plays a role in hydraulic systems within an automatic transmission.

It's really important to note that you need to know what your car needs before you about trying to do a

 or gearbox oil change. As such, it's always best to consult with a trusted mechanic or refer to your owner's manual when selecting which type of oil to use during an oil change.

How much does it cost to change gearbox oil in the UK?

The average cost of a gearbox oil change in the UK is between £60-120

. It can vary depending on several factors, such as the type of vehicle you own and where you take it for servicing.

One significant factor is the brand or model of your car. Luxury cars with high-end gearboxes tend to cost more than standard models due to their intricate components.

Another factor affecting price is whether you take your vehicle to an independent garage or dealership for servicing. Independent garages are usually cheaper than dealerships since they have lower overheads and fewer staff members typically work there.

Dealerships' pricing tends to be higher due to their reputation as specialists in specific brands; hence they may use OEM (original equipment manufacturer) parts which are typically more expensive than aftermarket parts used by independent garages.

In summary, if you need a gearbox oil change in the UK, expect some variation in prices based on various factors such as car model and where you decide to get it serviced - either at an independent garage or dealership. 

If you're worried about the cost of your gearbox oil change, even though you know you need to get it done, consider Bumper. Bumper is changing the world of 

 with 0% interest-free monthly instalments. 

The average cost for gearbox oil changes by car make

Benefits of changing your manual gearbox oil

Regular maintenance and inspections are vital for the smooth functioning of any vehicle. A gearbox oil change is a crucial part of this regular maintenance process. Not only does it improve the performance and efficiency of your car, but it also extends the lifespan of your gearbox significantly.

Regularly changing your gearbox oil reduces the risk of breakdowns and costly repairs, as it helps to prevent wear and tear on gears caused by friction between metal parts. Additionally, fresh oil ensures that all moving parts within your gearbox remain lubricated properly, which ultimately reduces heat buildup that can cause damage to internal components.

Moreover, if you neglect proper maintenance procedures such as gearbox oil changes over time, not only will you have to pay for more expensive repairs or replacements later down the line - but also experience reduced fuel efficiency due to decreased performance from an ageing transmission system.

 like gearbox oil changes in addition to regular servicing schedules can save you money in the long run while ensuring that your vehicle continues running smoothly without any unexpected surprises along its journey on UK roads!

How often should you change the gearbox oil?

When it comes to changing the gearbox oil in your vehicle, there are some recommended guidelines that you should follow. Most manufacturers suggest that you change your gearbox oil every 50,000 miles or five years, whichever comes first. However, if you frequently drive in harsh conditions such as stop-and-go traffic or extreme temperatures, it may be necessary to change the oil more frequently.

There are also certain factors that may require more frequent oil changes. For example, if your vehicle is used for towing heavy loads or off-roading on a regular basis, this can put additional strain on the gearbox and cause accelerated wear and tear. In these cases, it's recommended to change the gearbox oil at least every 30,000 miles or three years.

One easy tip is to avoid harsh driving habits like sudden stops or starts, which can cause excessive wear on both the gears themselves and the lubricant protecting them.

Regularly checking for leaks or other signs of damage is also crucial when it comes to preserving your gearbox's health. If you notice any 

unusual noises or vibrations while driving

, don't hesitate to take your car to a mechanic for inspection - catching problems early on can save you money down the line.

Finally, always use high-quality oils specifically designed for use in gearboxes. While cheaper options may seem tempting at first glance, they often lack essential additives that protect against wear and tear over time.

By following these simple tips and tricks for keeping gearbox oil in good condition, you'll be able to extend its lifespan while ensuring optimal performance from your vehicle overall.

If you're interested in changing your gearbox oil yourself, it's important to know the necessary steps and tools needed for a successful DIY project.

If any of these symptoms arise, you should take action promptly before more significant issues develop within your vehicle's transmission system. Regularly checking and replacing your gearbox oil will help keep your car running smoothly and 

, dirty gearbox oil in itself is not an automatic failure. However, if the condition of your gearbox oil is deemed to be a risk to road safety or environmental standards, then this could result in an 

The tester will check for signs of contamination and degradation of the oil, which can affect its ability to lubricate and protect the gears within the transmission system. It's always recommended to keep on top of regular maintenance checks and have your gearbox oil changed at manufacturer-recommended intervals - this will help ensure that your vehicle passes its MOT with no issues related to gearbox problems.

If you continue driving with bad gearbox oil, it can also lead to more serious issues such as a complete breakdown of your transmission system. This will require costly repairs or even a full replacement, depending on how severe the damage is.

Therefore, if you suspect that there might be something wrong with your gearbox oil, it's important to stop driving immediately and seek professional help. A mechanic will be able to diagnose any issues with your transmission system and recommend whether a simple fluid flush could resolve the issue or if any further repairs are necessary.

In conclusion, ignoring problems with gearbox oil could result in severe consequences down the line - including 

 - so getting professional help at an early stage provides peace of mind while ensuring long-term safety on roads.

Search for a reliable car repair garage in your area

 by entering your registration and postcode with Bumper and you can split the bill into interest-free monthly payments. 

How Much Does It Cost To Change Gearbox Oil In The UK?

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If you’re about to take out car finance it’s worth knowing that it can affect your 

. Credit ratings play a big part in our financial lives. They help us to get good deals on mortgages and loans, so does car finance affect credit scores for good or bad? 

Like any borrowing, if you pay back on time, car finance will help your credit score. If you miss payments or pay late, it will negatively affect your credit score. To find out how we explain how the credit scores work in this article. 

A credit score, sometimes called a credit rating, is a numerical figure between 0 and 999. It helps finance companies decide whether or not to lend to you. A high number indicates you’re a reliable payer and a lower one that you may have missed some repayments. 

Missed payments are reported to credit reference agencies; Experian, Equifax, and TransUnion, and your credit score falls as a result. The agencies all use different scoring methods, though. This makes it quite confusing as your rating might be different with all three.

So how exactly does car finance impact credit score?

There are two different types of credit checks, hard and soft. The former is a more in-depth check that looks at everything on your file, all borrowing, bank accounts and other financial markers noted.

Every hard credit check performed is also noted on your credit report, meaning that applying for too many lines of credit, e.g. car finance, credit cards etc, in a short period of time will negatively affect your score.

Soft credit checks only take a glance around your credit history and are often used to give an agreement in principle, something used to give a ‘conditional’ offer of lending, often done at the very start of the application process. 

How car finance can affect your credit score 

Car finance can positively and negatively influence your credit score, typically at two stages – application and repayment.

If you apply too many times in a short period, lenders carry out ‘hard’ checks on your credit file. This could damage your credit score unless they’re treated as one inquiry. It’s a good idea to ask whether a ‘soft search’ can be carried out at the application stage - this is a limited check that doesn’t affect your 

. It can give you an idea of whether the application will be accepted.

If your application is successful, your credit score may still fall a little but this will only be temporary. As time goes on, and you make your repayments in full, you can considerably build up your credit score.

If you miss any repayments, pay late, or pay less than you’re supposed to, it harms your credit score significantly. This is because you haven’t kept to the terms and conditions of the finance contract.

Car finance boosts your credit score if you make all your repayments on time and in full. But this means it’s important to be 100% confident that you can ensure that the repayments are affordable for the whole finance term. Regular repayments show that you can manage your money and that you aren’t a credit risk to lenders.

Car finance companies and other lenders will always focus on the risk of not being paid. Your credit score gives them a strong insight into whether this might happen. Your previous payment history is the biggest indicator. 

A low credit rating can make it hard to obtain finance in the future. Even if you are offered loans with a poor credit score, you won’t get access to the best deals and it’ll cost you more in interest. 

Does applying for a car loan affect credit score?

Applying for a car loan doesn’t affect your credit score if the lender does a ‘soft-check’ on your credit file. This means they only look at certain pieces of information in your credit record and the search isn’t visible to other lenders. 

If you make numerous applications for car finance within a short period, though, it could negatively affect your rating. This is because too many applications suggest that you’re urgently in need of money. 

Get your FREE credit report with Checkmyfile 

to see what lenders may see when they check your report. Try it FREE for 30 days, then £14.99 a month. Cancel anytime.

Does Buying a Car on Finance Improve Your Credit Score?

Positive effects on credit when you buy a car

Buying a car positively impacts your credit when you meet all the instalments. It shows financial responsibility to repay a loan as set out in the contract. It can give you access to better loan and mortgage deals in the future. 

Adding a different type of borrowing to your credit file can also boost your credit score as lenders see you’re dealing with a range of different credit and finance agreements. For example, paying off your car loan alongside credit card or store card balances. 

Credit cards are known as ‘revolving credit’ but car finance is ‘instalment’ credit as you pay a fixed sum each month as part of an instalment plan. Buying a car using finance strengthens your credit rating by showing you can repay consistently over a long period of time.

How quickly will car finance improve your credit score?

Because your credit score is a value of your reliability over time, any new lines of credit will take a little while to positively affect your credit score. 

Some people find as little as 6 months of on time payments is enough to improve their 

, but this will depend on your previous credit history.

How does buying a car negatively affect credit?

Missing a single payment can lower your credit rating, particularly if you don’t make the payment quickly. The lender is likely to report it to the credit reference agencies.

If you fall far behind with car finance repayments the detrimental effect on your credit rating will be severe and long-lasting.

Some lenders will declare the loan to be ‘in default’ after just 30 days. Others allow around 90 days before they call in debt collectors to recover the amount, or to repossess the car.

Defaults remain on your credit file for up to seven years and can limit the attractive finance deals that you’re offered in the future. If your credit rating is very low you may not be able to borrow at all until it improves.

Does Car Loan Refinancing Affect Your Credit?

Does car finance affect getting a mortgage?

If you pay your bills on time it will improve your credit and thus your chance of getting a mortgage. If you default on your finance payments, the bank will be less likely to offer preferable mortgage rates. 

Because your proposed mortgage lender will use your credit score when considering your mortgage application, car finance affects this in a similar way to any borrowing.

By limiting the number of car finance applications you make and checking that only ‘soft’ searches will be carried out, you can protect your 

 and there should be no negative effect. 

If your application is successful, car finance will have a positive effect as long as you make all your repayments on time.

Demonstrating that you can manage your money responsibly has the biggest positive influence on your credit rating and can lead to better deals on loans in the future. 

Bumper offers interest-free loans on car repairs to keep your car on the road and help you manage your money. Choose from 1000s of garages and dealerships nationwide.

 has been writing about cars for over seven years and writing for Bumper for over two, blending his passion for automobiles with a talent for storytelling.

Does Car Finance Help Your Credit Score?

How often do you consider your car's steering system? Most drivers take it for granted until it fails. 

Don't worry if you're experiencing this issue right now. We're here to help with steering rack replacement costs.

We'll also cover other factors influencing the price, such as labour costs and parts availability. By understanding more about what goes into replacing a steering rack, you can help extend your car's lifespan and avoid more expensive repairs. Keep reading to find out more.

How much is a steering rack replacement cost in the UK?

The average steering rack replacement cost in the UK is

The cost of replacing a steering rack varies by vehicle make and model, as well as labour hours. We’ll break these down in this article.

You should also compare prices from multiple mechanics to find the best rate. If you're experienced, consider doing some of the work yourself to save on labour costs. But don’t attempt this if you’re a newbie!

Split the cost into monthly payments at thousands of reliable repairers with Bumper 

Steering rack replacement cost by car make

We've rounded up the average costs for replacing the steering rack depending on your car make. Use these as a rough estimate for your costs.

A steering rack is crucial for translating the driver's steering wheel input into action, controlling the car's direction and speed. 

It consists of a pinion gear connected to the steering wheel and a tie rod assembly linking to both front wheels, with bearings, seals, and bushings ensuring its performance.

A steering rack converts the steering wheel's rotation into lateral motion, moving the wheels left or right to steer the vehicle. The pinion gear attached to the steering wheel engages with a rack bar and this moves as you turn. 

Proper alignment of tie rods and ball joints is crucial, as they transfer this motion to the wheels. Some cars also have power-assisted systems that make steering easier using hydraulic or electric assistance.

What is the average life of a steering rack?

typical lifespan of a steering rack is around 80,000 miles. 

However, this can vary depending on a few factors such as the type of vehicle and how it is driven.

Factors that can affect the steering rack

Several factors can affect the lifespan of a steering rack. Here are the main ones:

How to extend the life of your steering rack

There are some ways to extend the life of your steering rack and to help you avoid costly repairs.

 and keep up with any necessary replacements when recommended by your mechanic. 

You should also be sure to drive sensibly and avoid using too much force when turning corners or going over bumps to reduce wear and tear on the system.

If you notice any bad steering rack symptoms, you should investigate them immediately.

Knowing the bad steering rack symptoms can help you prevent damage and make your car safer. The most common symptoms of a failing or worn-out steering rack are:

These can all impact your car's performance, making it harder to control the vehicle and causing vibrations that reduce your handling abilities.

Additionally, if left unchecked for too long, these issues can lead to further damage, such as seized-up components or even complete failure of your steering system.

It's vital to address any signs that indicate your steering rack may need replacing before serious damage occurs.

No. You shouldn’t drive with a faulty steering rack in the UK. 

The risks associated with this can be severe and can include loss of control of your vehicle due to lack of responsiveness from the steering wheel, or even sudden failure at speed which could result in a serious accident.

Furthermore, if the police catch you driving an unsafe car on public roads, you may face charges — this will up your cost to replace the steering rack for sure!

Worried about expensive car repair costs?

to help you split the cost of car repairs with interest-free monthly instalments, find a trusted partner here.

Replacing a steering rack yourself can save money on labour and provide valuable hands-on experience. 

What Happens If You Can't Afford Your Car Payments

How Much Does It Cost To Change Gearbox Oil In The UK?

Does Car Finance Help Your Credit Score?

How Much Does A Steering Rack Replacement Cost?

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