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I have a poor credit rating. Can i get bad credit car finance?

Hi, I have a poor credit rating due to past issues which have now been resolved. I am only looking for a smallish loan (I have seen one of your cars at £3995) and I would have a £500 deposit to put down. I have applied for finance, how long does it take to come through ? Also what sort of rates of APR do you have for poor credit? I am trying to decide whether to go ahead with loan if approved or simply save up the cash, sell my car and buy with cash after Xmas. Kind regards

Posted by Melanie on 06/09/2011 @ 13:47

Hi Melanie, thank you for the detailed question. In short i'm confident we can get you approved as we have many lenders that help people that have had credit problems in the past. In fact we're specialists in obtaining bad credit car loans through our panel of lenders. The fact that you have a £500 deposit is also a big help and getting you £3500 won't be an issue. What type of car is it that you're after? The rates on the finance will obviously be higher than what you'll see on the high streets as you will be seen as a higher risk unfortunately. For poor credit car finance you should expect to pay between 12% and 20% APR. When you say your past issues have now been resolved can you elaborate on that statement please? Kind Regards, Louis

Posted by Edwin Miles on 06/09/2011 @ 15:10

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Hi, what I mean by my situation was caused by a past issue - I worked for the National Trust about 5 years ago and was on a very low wage (I took a paycut of about £5k to go into the heritage industry), I then got into issues and missed payments on a previous loan with Cahoot and I did have defaults. Via a company called Byrom and Keeling a payment plan was arranged. However I have since gone back to working in the insurance industry and earn nearly £10k more than I did then, arranged to pay Cahoot and other smaller store cards back directly rather than through Byrom and Keeling (as they were taking 10%) and I now only have Cahoot (which is £2600 total to pay off including interest) and HSBC which is £2000 and a New look store card which has about £150 owed. I do not have a credit card or any other finance or HP owing.

Posted by Melanie on 06/09/2011 @ 15:17

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Hi Melanie, thanks for your feedback. I totally understand your position and as your defaults are less than £5k each i'm still confident we can help. Have you made a car loan application with us yet? Obviously i can't guarantee anything but we'll try our best. Kind Regards, Edwin

Posted by Edwin Miles on 06/09/2011 @ 15:34

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Hi, I went bankrupt over 2 years ago (june 09) and was given an early discharge Aug 10). I am gradually rebuilding my credit again. would i be able to get a car on finance now please?

Posted by Lee on 09/09/2011 @ 18:38

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Hi Lee, there is a possibility of obtaining bad credit car finance for you but the only way to find out is to apply so that we can asses your credit profile. To strengthen the car finance application do you have anyone who can act as a guarantor or joint hirer who has a good credit history? Kind Regards, Edwin

Posted by Edwin Miles on 12/09/2011 @ 09:23

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hi.. because of mistakes in the past with my credit... ....i have just checked my credit rating and its rather poor...however no ccjs or ivas and nto bankrupt and most of them have been settled except one which i didnt know about.....so i was wondering if i could still get the credit for a new car...as now im working and i think this may be a way for me to be build on my credit score......i'm looking to borrow 8k for a new model astra 1.4

Posted by Rajdeep on 26/09/2011 @ 18:40

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Hi Rajdeep, from what you've said i think we can help. It's great to see your old credit accounts now settled and it's also good that you're not bankrupt or in an IVA. Please make an application for poor credit car loans and we'll see if we can get you approved. Kind Regards, Edwin

Posted by Edwin Miles on 26/09/2011 @ 18:43

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iv also noticed that you dont have the model i am after in the car...would you still be able to get what i want if im able to get the full loan ?

Posted by Rajdeep on 27/09/2011 @ 15:33

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Hi Rajdeep, yes - we can get any car you want as long as you can show you can afford the car. Have you applied for poor credit car finance on our website?

Posted by Edwin Miles on 27/09/2011 @ 16:44

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Good Morning I have been thinking over the fact to get a new car and the only option would be a car on finance, but i have a very bad credit rating although i have a mortgage. I have had a car finance in the past with welcome finance and paid it off., in 2007, but reconsidering it although not sure because of my rating and do not really want any footprints on my record if i was to be turned down. please could you help.

Posted by Tammy on 06/10/2011 @ 10:41

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Hi Tammy, the only way to find out is to make an application for poor credit car finance with us and we'll see what we can do. We do have quite a few lenders who help people in your situation but the APR's are higher than you see on the high street as you're seen as a bigger risk. We will try our best to get you approved though. Kind Regards, Edwin

Posted by Edwin Miles on 06/10/2011 @ 11:32

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hi, i am 19 years of age and i have recently had to get rid of my car because it broke and havent got the money up front for a car that is why i am wanting to get one on finance but have applied for finance but cant get one. i just wanted to know if you could help. Thanks

Posted by Kimberley on 06/10/2011 @ 17:14

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Hi Kimberley, if you don't have any credit history it may be best to apply with a guarantor (such as your mum or dad - have you asked them to help?). The thing is car finance lenders like to see some credit history on your profile and they like to be able to trace you so that's why it's so important to be on the electoral roll. Are you on the electoral roll? If you don't know ask your parents if you still live at home. If you don't have any credit at all it doesn't mean you have bad credit or a poor credit rating it just means you need to get your foot on the ladder and start getting a little bit of credit and build your profile up that way. I hope this helps and like i said make an application with a guarantor and hopefully we'll be able to get you into a car. Kind Regards, Edwin

Posted by Edwin Miles on 06/10/2011 @ 17:21

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I have a deposit of £3500 may be a bit more and a car is £6000. Would this help with bad credit? I have defults but no ccjs or bankrupcy.

Posted by Lee on 10/10/2011 @ 09:42

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Hi Lee, a deposit would certainly help as we have a number of bad credit car finance lenders who need to see commitment from customers in the form of a deposit. I can't give you a definite answer as to whether we can get you accepted or not until we see your credit profile so please make a car finance application with us asap. Kind Regards, Edwin

Posted by Edwin Miles on 10/10/2011 @ 10:07

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I have a bad credit rating and was wondering how much of a deposit i would need for a loan

Posted by Steven on 10/10/2011 @ 13:42

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Hi i am only 21 years old and want a car on finance. I applied for car credit and was declined and as my address is blacklisted through my parents history i cannot get anyone to be a guarantor. I checked my credit score and its only one star. I have a large overdraft of £2000 but do not owe any money to anyone apart from that overdraft. I also have one default on my credit report due to an overdraft with another bank which was only £100 and i didnt know i was over it for months. I work part time and earn around £650 a month plus £400 a month from my university. I want to borrow £6000 is there a chance i could get it?

Posted by Callum on 15/10/2011 @ 16:47

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Hi Stevan, for a poor credit car loan you'd need approx 15% deposit for us to be able to help. Is thi spossible? Kind Regards, Edwin

Posted by Edwin Miles on 17/10/2011 @ 09:52

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Hi Callum, there is a possibility that we could help. It all depends upon whether any of our bad credit car finance lenders want to take a risk on you. We won't know until you make an application and we can see your credit profile. Do you have a deposit as this can sometimes help and are you currently on the electoral roll? Kind Regards, Ediwn

Posted by Edwin Miles on 17/10/2011 @ 09:55

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I have poor credit will i still be able to apply for a loan from your company?

Posted by Sonya on 27/10/2011 @ 08:03

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Hi Sonya, yes - here at carfinance247 we specialise in helping people with poor credit. I can't guarantee we'll be able to get you accepted but we have the largest panel of lenders in the market so we have a good chance. Please make a poor credit car finance application. Edwin

Posted by Edwin Miles on 27/10/2011 @ 08:05

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hi, i've got a really bad credit, been on debt management plan, been on an IVA and now currently on a personal bankruptcy, but i recently had an accident and my car has been written off, i've been paid some money and have raised a total sum of 7000, but the car i want cost 10000, because it's reliable and i dont want to have to worry about a a car for a long time, with the amout of deposit i have will have towards me getting a loan.

Posted by Law on 01/11/2011 @ 02:19

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Hi Mr/Mrs Law, if i'm honest given your current circumstances we wouldn't be able to offer you bad credit car finance. I'd suggest to get a car with the £7k you have rather than borrowing more money. Kind Regards, Edwin

Posted by Edwin Miles on 01/11/2011 @ 10:23

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Hi I got a credit score of 350 and dont have any debts. Do you think you could still help?

Posted by Dave on 02/11/2011 @ 21:42

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Hi there, I wonder if you can help. I have a bad credit history due to being made redundant and falling into debt as a result, and also because I am a private tenant who, through no fault of my own, has had to move house a lot in the last few years. I am trying to arrange car credit as I am now working full time and in a stable job with a good income, but my car is on its way out. I wondered if there is any way I could get assistance with car finance if I was able to provide a guarantor? I hope you can help. Kind regards, Charlotte

Posted by Charlotte Webster on 05/11/2011 @ 12:23

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Hi Dave, your credit score does seem quite low considering you don;t have any debts. Have you had any missed payments recently? Are you on the electoral roll? Please make an application as we specialise in obtaining car finance for people with poor credit scores. Regards, Edwin

Posted by Edwin Miles on 05/11/2011 @ 12:25

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Hi Charlotte, thanks for your great question. We will certainly try and help you out and the good news is that we can take your old car off you as full deposit if we can get you approved. Are you on the electoral roll at your current address? If so, please place that address on the main application and also list all of your other addresses on the application form. We also help people with a blemished past so don't worry - you're not the only one in your situation. If you do have someone else in mind as a joint hirer and they have good credit then please place them on the application also but get their permission first. Good luck. Kind Regards, Edwin

Posted by Edwin Miles on 05/11/2011 @ 12:29

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hi i have a poor credit rating and have a few defaulted bills i have already paid two off and outstanding is under 500 pounds can i still get car finance with youreselves my credit rating is a one star.

Posted by Scott on 27/11/2011 @ 21:58

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Hi Scott, please make an application for bad credit car finance and we'll see what we can do. We have to see your credit report before we can make a decision. Kind Regards, Edwin

Posted by Edwin Miles on 28/11/2011 @ 09:35

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My Credit score with equifax is POOR despite my financial affairs being in order. My Experian is Fair/Good. Do you have a lender that only uses Experian? I hear Black Horse may be an option?

Posted by Jamie on 17/12/2011 @ 12:59

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Hi, I have a bad credit rating due to seperation. I need a car to take my kids to childcare while I am at work. Please can you help?

Posted by Tracy Mccartney on 29/12/2011 @ 12:11

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Hi Jamie, some lenders use Equifax and some use Experian so we should be able to get you sorted with car finance even though you have a poor credit history. We deal direct with Black Horse also so if we can get you approved with them we will. Please make an application and we'll see what we can sort out quickly.

Posted by Edwin Miles on 29/12/2011 @ 12:13

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Hi Tracey, we'll certainly try and help you out. When you say your credit is bad - how bad is it? We do have access to lenders that help people with adverse credit history but they can't help everyone. The good thing is that it sounds like you're in work and have a steady income which is great. Are you in an IVA or bankrupcy? If you have CCJ's how much are they for?

Posted by Edwin Miles on 29/12/2011 @ 12:15

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Hi there just a quick question, I don't have any ccj's I have a debt with a credit card for about £2019 which im in the process of clearing up. I am just after a motor costing about £2500 and I have a full time job approximately what type oy monthly installments would I be looking at?

Posted by John on 12/01/2012 @ 15:35

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Hi John, your monthly payments would all depend upon how long you want the £2500 over? 36 or 48 months maximum id suggest. £2500 over 36 months with fair credit works out at £89 per month - with poor credit it works out at £104 per month.

Posted by Edwin Miles on 12/01/2012 @ 17:15

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i have very very POOR credit, this is due to me having a kid young and not being in work for a few years so i relied on credit, i have moved a few times, i am on the electrol register at my current address and i am also in work , i do have a car at the minute which is about to die, i made an application i just wanted to find out how do you make decisions on applications, and do i stand a chance, i just need someone to beleive in me right now as i am in such a better postion now

Posted by Tanya on 12/01/2012 @ 20:55

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Hi Tanya, we've sent your application to Approved Car Finance. Hopefully they can get you approved as unfortunately we'ne not been able to get you accepted at one of our panel of lenders. I'm keeping my figers crossed for yo. Thank you, Edwin

Posted by Edwin Miles on 13/01/2012 @ 08:33

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Hi my rating is currently 658 I have two defaults both about 500 pounds are my chances of being accepted finance from low ?? I am looking at going through fiat , or is the bigger the company the harder finance being accepted ??

Posted by Arran on 18/01/2012 @ 17:13

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Hi Arran, your credit score doesn't seem to bad but if we get you approved you'll be looking to pay aroud 19.9% APR which isn't the best on the market but by no means is it the worst. As your defaults are small i think we have a good chance of getting you accepted for poor credit car finance as long as you have a full uk drivers licence, a UK bank account, proof of address and a proof of income (payslip). Thanks Edwin

Posted by Edwin Miles on 18/01/2012 @ 17:24

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Hi, I have a credit score of 691 and a default on my account for under £500. I have a loan on going but it's all up to date and I have about £3000 left to pay. I am not on the electoral role but can provide proof of address and can provide bank statements and wage slips to prove full time emplymont. I've been denied car finance and I know my credit score is poor but do I have a chance of obtaining finance with yourselves even tho I'm not on the electoral role?

Posted by Ash on 25/01/2012 @ 16:46

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Hi Ash, you're ticking most boxes with what you say and a credit score of 691 is very fair. I'm confident we can get you accepted even though you're not on the electoral roll. Please make an application and fingers crossed we can gte you approved. What amount are you after and do you have a deposit? Kind Regards, Edwin

Posted by Edwin Miles on 25/01/2012 @ 16:55

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Hi Edwin, thanks for getting back, I'm unsure of the exact amount I'm looking for, I've been looking on your web site at the golfs and fiat puntos so I'll be looking at around £7000 or between £100 and £200 a month repayments. I only have about £400 deposit also at the moment. Could this be a problem?

Posted by Ash on 25/01/2012 @ 17:10

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Hi Ash, the deposit won't be an issue. The first step is to get approved so i'll look out for your application.

Posted by Edwin Miles on 25/01/2012 @ 17:13

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Thanks Edwin, I'll try my luck with the application.

Posted by Ash on 25/01/2012 @ 17:16

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Hi,I am working full time and have poor credit rating and my wife also working full time and have good credit rating,Are we eligible for a car loan with low rate interest?Thnx

Posted by Sunny on 01/02/2012 @ 10:00

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Hi Sunny, thank you for your question. To get a low APR the best thing to do is just get your wife to apply for the car finance as you say she has good credit. As you have poor credit it wouldn't benefit you to add yourself onto the application. Does your wife have a full UK driving licence and can she prove her income with payslips etc? Kind Regards, Edwin

Posted by Edwin Miles on 01/02/2012 @ 10:02

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Hi Miles,Thank you for your reply.Yes she can prove it with all documented proof and also she have full uk license.

Posted by Sunny on 01/02/2012 @ 11:02

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Thanks Sunny, please get your wife to apply for the car finance as long as you have her eprmission. Thank you

Posted by Edwin Miles on 01/02/2012 @ 11:09

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hi there, i have applied to a fair few car finance companys and been declined but now i have a £2000 deposit and am looking for a car in the £6000 mark. Do you think that would help? i have no ccjs but 6 defaults all under £500. cheers

Posted by Warren Jackson on 09/02/2012 @ 19:54

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Hi Warren We can't promise anything but as your default arrears are under £5000 there is a chance we may be able to get you approved for poor credit car finance. Please make an application and i'll look out for it. Where have you applied before asking this question? Thanks, Edwin

Posted by Edwin Miles on 09/02/2012 @ 20:01

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We would like to purchase a a motorhome for about £15000. We have a £5000 deposit and our credit score is approx 680. We had some late payments a couple of years ago. Should we wait to get our score up a bit more?

Posted by Terry on 25/04/2012 @ 20:54

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Hi Terry, as you have a large deposit we should be able to get you approved and if i'm honest your credit score isn't the lowest i've see by a long way however, if you apply now and are approved you will be expected to pay a higher rate of interest than those that you see on the high street. You'd be looking at 14%-15%. Would you be applying for finance on your own or with your partner/family member? Regards, Edwin

Posted by Edwin Miles on 26/04/2012 @ 09:31

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I'm posting on behalf of a friend, she's had a ccj in the past and paid it off 1-2 years ago, she does have a sim only mobile phone and various other direct debts coming from her account and was wondering if she would qualify for car finance?

Posted by Sam on 01/05/2012 @ 01:05

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Hi Sam, as long as your friends current credit is up to date then we should be able to help her. How much was her CCJ for and was it on a car or some other form of credit? Regards, Edwin

Posted by Edwin Miles on 01/05/2012 @ 09:41

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Hi, i'm 20 years of age and have had money troubles in the past which is currently being paid off. I have around £3500 left to pay off and i have no ccj's or iva's, maybe a few defaults but nothing else. I would be able to put a £500 deposit on a car. What are my chances of obtaining car finance for £8000? My credit score is around 500.

Posted by Dan on 09/05/2012 @ 20:27

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Hi Dan, the maximum we'd be able to lend you if we can get you approved is £5000. Are you on the electoral roll and do you have a full UK driving licence?

Posted by Edwin Miles on 09/05/2012 @ 20:54

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