Moneybarn

Moneybarn is a UK car finance lender that specialises in lending to people who may have been turned down elsewhere, including those with a CCJ or an IVA. It offers finance for cars, vans and motorbikes, mostly on conditional sale agreements, where the finance company owns the vehicle until the final payment is made¹.

The company behind the brand is Moneybarn No. 1 Limited, authorised by the Financial Conduct Authority with firm reference number 702780, status effective from 3 June 2016³. Its permissions cover entering into regulated credit agreements as lender and regulated consumer hire agreements as owner³. The company was incorporated on 26 July 2002 and remains active⁴.

If you are considering Moneybarn, the key things to understand are how conditional sale works, what drives the cost, who can apply, and what happens if you fall behind. This page sets those out, along with how to complain and where to get free help.

What Moneybarn offers: car, van and motorbike finance

Moneybarn's main products are finance for cars, vans and motorbikes. The agreements are typically conditional sale, which sits alongside hire purchase as a way of buying a vehicle on credit. With both, the finance company owns the car until you have made the last payment². The same rule applies across hire purchase, PCP and conditional sale: the vehicle is not fully owned by you until the final payment to the finance agreement is made⁵.

For vans, Moneybarn states it specialises in bad credit van finance, so it may be able to help even if you have been rejected elsewhere or have a CCJ or an IVA¹. It also offers joint finance, so you can apply with a partner or someone in your household¹.

The Motor Finance Redress Scheme covers used car finance for a motor vehicle taken out between 6 April 2007 and 1 November 2024, including hire purchase agreements such as PCP⁶. If you had a car finance agreement in that period, it may be worth checking whether you are eligible for compensation under that scheme.

For a wider look at borrowing options, see Loans.

Conditional sale: you own the vehicle after the final payment

Conditional sale is a form of hire purchase. The goods belong to the seller until your last payment⁷. You can drive the vehicle while you repay the loan, but you only become its legal owner once you have settled the agreement in full⁸.

This has practical consequences. You cannot sell the car without the lender's written permission, because you do not own it until you have paid off the agreement⁹. If you have a car or other item on a hire purchase or conditional sale agreement, you do not own the item until you make the final payment and complete the agreement, so you need your lender's permission to sell before finishing¹⁰.

The same principle applies to logbook loans, though the mechanics differ: with a logbook loan you can still use your vehicle, but the lender takes ownership from the start of the loan until it is paid back, and can take and sell the vehicle if you do not repay⁸.

How the costs work: deposit, interest and broker fees

The cost of Moneybarn finance depends on several things: the amount borrowed, the deposit, the interest rate and the term. Moneybarn's rates and fees are not published in the sources behind this page, and this site does not carry rates for named products. Moneybarn's own site sets out its current figures.

A deposit reduces the amount you borrow, which reduces the interest charged over the term. The larger the deposit, the less you finance and the lower the monthly payment tends to be. A minimum deposit for Moneybarn is not stated in the sources behind this page.

If you apply through a credit broker rather than directly, the broker may charge a fee. Broker fees vary and are separate from the interest you pay the lender. Ask any broker what they charge before you proceed.

Interest is charged on the amount financed over the term of the agreement. The longer the term, the more interest you pay in total, even if the monthly payment is lower. This is true of all credit agreements, not just Moneybarn's.

Who can apply, including with bad credit, a CCJ or an IVA

Moneybarn's stated specialism is bad credit van finance, and it says it may be able to help even if you have been rejected elsewhere or have a CCJ or an IVA¹. That does not mean approval is guaranteed, but it does mean a poor credit history is not automatically a bar.

A CCJ can be applied for by any creditor¹¹. If you have one, it stays on your credit file for a period and lenders will see it. An IVA requires debts to at least two different creditors¹². Both affect your credit file, but some lenders specialise in lending to people with these marks.

For comparison, credit unions offer accounts to people on low incomes or who have a poor credit file¹³, and credit-builder credit cards are designed for people with a poor credit record or little credit history¹⁴. These are different products from car finance, but they show that a poor credit history does not close off all borrowing.

If you are struggling with debt more broadly, free help is available from charities such as StepChange and National Debtline, and from MoneyHelper.

Which vehicles Moneybarn will finance

For vans, Moneybarn's lending criteria state the vehicle must be priced between £4,000 and £35,000 and have up to 125,000 miles on the clock¹. These are the figures Moneybarn gives for vans financed under its criteria.

Equivalent price or mileage limits for cars or motorbikes are not given in the sources behind this page. Moneybarn's own site sets out the criteria for each product.

Moneybarn's motorbike finance eligibility is unresolved: one product page states a valid A1, A2 or A UK motorbike licence or CBT certificate, while another states two consecutive months of payslips. If you are applying for motorbike finance, check the current requirements directly with Moneybarn.

Applying through a credit broker: soft and hard credit checks

If you apply through a credit broker, the broker may run a soft credit check first to see whether you are likely to be accepted. A soft check does not leave a mark visible to other lenders. A hard check, which happens when you formally apply, does leave a mark on your credit file¹⁵.

Some providers carry out a soft credit check, and some carry out a hard credit check¹⁶. Credit card providers often offer a soft search eligibility check which does not impact your credit score¹⁵. The same principle applies to car finance: a soft check can give an indication without affecting your file, while a hard check is recorded.

Research for the FCA found some level of understanding of the difference between a hard and soft credit check, more common among financially struggling participants, and more familiar as "check your eligibility before applying"¹⁷.

If you are applying with a guarantor, the guarantor may have to pass a credit check and give information about their finances¹⁸.

Paying off early: how the settlement figure is worked out

If you want to pay off a conditional sale agreement early, you ask the lender for a settlement figure. Early settlement takes place where the indebtedness of the debtor is discharged or becomes payable before the time fixed by the agreement, including on refinancing, on breach of the agreement, or for any other reason¹⁹.

The settlement figure is calculated under the Consumer Credit Act rules. The formula Moneybarn uses is not given in the sources behind this page, but the principle is that you pay the outstanding balance plus any interest accrued to the settlement date, minus a rebate for the interest that would have been charged over the remaining term.

Paying off early can save interest, but check the settlement figure carefully. Some agreements have early settlement charges. Ask Moneybarn for a written settlement figure before making any payment.

If you fall behind on payments

If you miss a payment, the lender will contact you after you miss one or two payments and should discuss ways for you to catch up and pay the arrears². You get reminder letters when you miss payments²⁰.

Arrears are the amount you have missed, not a separate charge, though extra charges can be added if you miss payments²¹.

For car finance specifically, the lender should discuss ways to catch up. One example of catching up on a missed payment, given in mortgage guidance, is adding an extra £100 to your monthly payments for the next seven months after missing a £700 payment²². The same principle of spreading the catch-up can apply to car finance, but it depends on the lender.

If you fall behind with payments or have a Motability car, contact a debt advice charity for advice²³. Free help is available from StepChange, National Debtline and MoneyHelper.

Complaints, faulty vehicles and where to get help

If you have a complaint about Moneybarn, complain to the firm first. If you are not satisfied with its response, you can take the complaint to the Financial Ombudsman Service, which is free²⁴.

The Financial Ombudsman Service can help with complaints about bank accounts and bank cards, insurance for your home, car or travel, and problems with loans²⁵. It also handles complaints about account closures, disputed transactions, IT failures, and problems with switching services²⁶.

In the first quarter of 2026/27, the ombudsman opened 33 complaints about credit broking²⁷. In 2025/26, it opened 22,783 complaints about credit cards²⁸. In the first quarter of 2025/26, it opened 369 complaints about debt collection²⁹. For Moneybarn No. 1 Limited specifically, 3,081 total new cases were opened between 1 January 2024 and 30 June 2024³⁰.

If you are trying to identify your lender for a car finance complaint, you can check old bank statements, contact the dealer where you got the car, or check your credit file, which you can access for free through Experian and TransUnion²⁴.

If a financial firm refuses a refund and you disagree, you can bring a complaint to the ombudsman³¹. If you try to use chargeback and do not get your money back, you can complain to the Financial Ombudsman Service if your card provider says they will not appeal to the trader's bank³².

For free, impartial help with money questions, MoneyHelper can be reached on 0800 011 3797³³.