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Debt help from StepChange for car finance customers

Helping your customers drive forward

Pre-register for our new report: 'Trouble on the road ahead?'

Our new report, dives into some of the key trends that car finance lenders need to be aware of. It explores:

  • Why we have seen an increase in customers with car finance debt seeking debt advice
  • How the cost of living crisis is impacting customers in the car finance sector
  • And what the industry can do about it

Register to receive the report here

Car finance: A growing need for debt advice and support

The cost-of-living is having a significant impact on the financial wellbeing of car finance customers. Since 2020 we have seen a 13% increase in the proportion of our customers who have a car finance debt.  

Our data shows that car finance customers have 59% more unsecured debt than our other debt advice clients. Car finance customers could therefore be at risk of financial hardship if their circumstances change. There are many triggers that can push customers into problem debt, such as losing their job, going through a relationship breakdown, or simply the large increases in their regular bills we’ve seen in recent years.  

Our data also shows that most customers will have already missed payments to other debts before they miss their car finance payment. Providing support to customers who may be struggling to keep up with payments on their car finance, leases and loans is crucial to helping them get a good financial outcome. 

At StepChange, we support thousands of people every year who are struggling with money. This includes an increasing number of clients with car finance loans and leases. We work with the UK’s leading lenders to provide convenient and seamless referrals into our award-winning, free, and impartial debt advice. 

Find out more about our latest insight, reports and events for the car finance sector, and discover how we can work together to support your customers.

Helping your customers drive forward

Our report from June 2023 explores some of the trends from StepChange's data, and highlights why debt advice is so important in the car finance sector.

Read the report

Webinar: Exploring trends in car finance with Experian

Rewatch our webinar with Experian where we explore the findings of our report 'Trouble down the road?'. We deep dive into the consumer trends, consumer behaviors and key statistics affecting the car finance sector, and we discuss how the sector can respond.

Rewatch the webinar

Become a partner

We offer a range of tools to seamlessly refer your customers into free, impartial debt advice. Find out how your organisation can get involved.

Become a partner

Partner hub

Tools and resources for our partner organisations.

Visit the partner hub

Stay up to speed

We'd love to keep in touch and share our insight on debt and the car finance sector with you.

Help your customers manage their car finance loans, leases, payments and more.

By identifying vulnerable customers and referring them into our services earlier, you can help your customers tackle their debt and support them to achieve their financial goals, while delivering on your business objectives and regulatory requirements.

Register below to stay up to date with the latest news, insights and events: