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Car finance with poor credit history

I an looking for a car loan for my wife either securer or unsecured. She has a poor credit history due to loans that she has with me but apart from that she is upto date on all her credit cards etc. Do you think you can help her get a car loan for around £8,000?

Posted by Aubyn Strachan on 14/09/2011 @ 10:36

Hi Aubyn, thank you for your question. Do you both have bad credit? If so, don't worry - we'll do our best to help you out. It would help if you had a deposit of say £1500. Is this possible? The reason i ask is that we have poor credit car finance lenders but they want to see commitment from the customer to the tune of 15-20% deposit. The £8000 shouldn't be an issue if we can get you approved for poor credit history car finance but you'll need to apply so that we can take a look at your wife's credit history. Kind Regards, Edwin

Posted by Edwin Miles on 14/09/2011 @ 16:38

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Hi Edwin, i also have a poor credit history but need a car loan as i need a new car for my new job. I have a £500 deposit and a part exchange worth roughly £1000. Some of my credit is ok and some of it not so great (missed payments etc). I don't have any CCJ's though. Can you help get me car finance with poor credit?

Posted by Jamie on 22/09/2011 @ 08:57

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Hi Jamie, i really appreciate your question and comment. The good news is from what you've said your credit doesn't sound that bad. Obviously i'd need you to complete an application for car finance with a poor credit history so that i can see your credit profile before making a decision. It's great that you don;t have any CCJ's and we have many lenders on our panel who help people in your situation. It's also great to see that you have a deposit and it also wouldn't be an issue to take your old car in part exchange. Sometimes people think they have a poor credit history when in fact they don't so you might be pleasently surprised with the outcome and the rate you get on your car loan. Please make an application and we'll see what we can do for you. Kind Regards, Edwin

Posted by Edwin Miles on 22/09/2011 @ 09:05

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Hi, I have seen the car I want and if you secure the finance can it be the car I have seen or do you source your own car for me? I have a credit score of 529 however this doesn't reflect my circumstances. I have only ever had 1 credit file in the past 6years and that was for car loan through welcome finance and i paid that off after 3years in full and early payment. My score is low becuase i tried too many searches through high street lenders. I am on the electoral role and earn £30pa basic plus around 10-13k bonus so have a healthy income with no debt to pay.I am looking for £8000 over 60mths. Do you think with my score it would be possible?

Posted by Samuel Jamieson on 10/10/2011 @ 09:36

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Hi Samuel, your credit score doesn't seem that low to me and that fact that you have no CCJ's or defaults is a great thing. Your wages will be high enough to obtain poor credit car finance too. If we get you approved we source the car for you. Whatever you want though we'll get our hands on. Please make an application today. Kind Regards, Edwin

Posted by Edwin Miles on 10/10/2011 @ 09:38

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Hey, I have quite a poor credit history, 3 unsettled defaults (Non of which are of high value) which i'm currently in the process of sorting out. Other than that i have missed payments on a few accounts and i have many accounts which are satisfactory or settled, My credit score is around the 500 mark, Not great i know. However I'm looking to finance a car over 60 months for the value of around £7000 (with a £1,500 deposit), I don't want to risk damaging my credit anymore by needlessly applying for products in which i wont get, Do you think there would be a chance of perhaps me being approved? Even if it was at a higher APR? Kindest Regards, Michael.

Posted by Michael on 15/10/2011 @ 01:28

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Hi Michael, don't worry - we should be able to help. I can't promise anything however, we have helped many people in the past who've had a similar credit profile to yourself. We have access to many poor credit car finance lenders and the fact you have a chunky deposit helps a great deal also. Please make a full application on our website and we'll see what we can do. Like you said the APR's will be higher as you're seen as a bigger risk in the lenders eyes but if we get you approved we'll have you in a car within 3-5 working days. Kind Regards, Edwin

Posted by Edwin Miles on 15/10/2011 @ 14:00

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Hello, im looking to get a new car but my credit rating comes out as poor, i work full time and have now paid all my debts off but it will not effect my credit rating for a while. Is there any car finance companies who will take in to account that someone works???

Posted by Emma Lewsi on 05/12/2011 @ 16:03

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Hi Emma, thank you for your question. We try our best to help all customers with poor credit obtain car finance at all times. We cannot guarantee we can get you approved (unless you meet certain criteria) but please make an application as we have over 20 lenders that help those with a poor credit history. The good news is that your debts are paid off and lenders will take that into account. Kind Regards, Edwin

Posted by Edwin Miles on 05/12/2011 @ 16:06

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Hi there, I have previously had credit and defaulted on the car twice but paid within 2 days of the default. I also had a credit card default. I paid my previous car finance off 7 months ago & now i can't even get a store card as a result . I want a car priced at £10k and i have £2.5k to put down. Will i get accepted?

Posted by George on 13/02/2012 @ 19:59

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Hi Edwin, I have a terrible credit rating despite earning 50k a year. I would be able to afford a 20% downpayment on any loan but is it realistic that i would be accepted on a loan despite my poor rating?Thanks in advance

Posted by Anthony M on 01/03/2012 @ 09:20

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Hi George, realistically you won't get £10,000 with the 2 defaults. There is the chance of getting roughly £6000 plus your £2500 deposit, so you will have to change your aspirations of the car you're looking for. The main thing is to get you accepted first so please make an application and we'll take it from there. Kind Regards, Edwin

Posted by Edwin Miles on 01/03/2012 @ 09:25

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Hi Anthony, for myself to be able to give you clear advice i need to know how bad your credit actually is. Without making an application and doing a credit search on you we don't know how bad things are. If you could explain in further detail that'd be great. The great news is that we have a lender who lends to people with bad credit and a large deposit which you fit into. However, they don't accept everybody. Look forward to hearing from you. Edwin

Posted by Edwin Miles on 01/03/2012 @ 09:28

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Hi Edwin, i'm currently looking for a car but my credit rating is very poor, I cuurently do not know what score it is but im currently looking at various debt solutions to manage the debt. With this in mind is it still possible to look at applying for a car loan? I'm looking for between £3000 and £4000.

Posted by Mark Bradley on 15/03/2012 @ 14:50

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Hi Mark, we'd love to help. Are you in default currently with any accounts and if so, are they over £5000? If they are we wouldn't be able to help but if not we can certainly take a look. We help people with credit issues and those with a poor history. Do you have a deposit or part ex and are you in full time employment? Regards, Edwin

Posted by Edwin Miles on 15/03/2012 @ 14:52

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I have very poor credit and want to get a car loan, this was from years ago. I work full time now and want to re-build my profile - how can I get a car on this basis please?

Posted by Paul on 02/04/2012 @ 17:35

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Hi Paul, if your poor credit history was from "years" ago we should be able to get you approved with no issues. The rate you pay (10% to 14%) will obviously be higher that those on the high street but this is the only way to re-build your credit. You should also take out a credit card with a small balance on and make sure you never miss and minimum monthly payments as this would prove to lenders that you are now a safer risk than in the past. Do you have a deposit or part ex? Kind Regards, Edwin

Posted by Edwin Miles on 02/04/2012 @ 17:42

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Thanks for the response, I have had a credit card for about 3-4 months and not missed a payment. I've also have a contract mobile phone for over a year and again not missed a payment. I do not have a deposit or part ex unfortuantely. I am trying to re-build my credit and really want a car :)

Posted by Paul on 02/04/2012 @ 21:03

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Hi Paul, with what you say we should be able to help - please apply and good luck. Edwin

Posted by Edwin Miles on 03/04/2012 @ 08:06

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The only issue is I have moved quite a few times as we rent. I don't know whether this causes issues. We have just moved into the property we are at now.

Posted by Paul on 03/04/2012 @ 21:51

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Hi Paul, before applying i'd advise that you get on the electoral roll at your current address. All lenders look for traceability and if you can't be traced at your current address it can cause some lenders to decline you on this basis. That wouldn't be the only factor though. Where is all your credit registered too today? Is it in the current address or previous addresses? Also is your driving licence still in a previous address? Edwin

Posted by Edwin Miles on 04/04/2012 @ 11:10

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Good Evening, I am 22 years old and having my driving test next week. I am looking for car finance but have a bad credit history from when I was younger. I am a director of my own company and make on average £3,600 per month after tax. I have every wage slip stating this from 2009 but, I have applied for various loans and have been refused which didnt help my credit history. I also might be able to try get a guarantor but not 100% yet. Please Help! Kind regards, Luke

Posted by Luke on 04/04/2012 @ 11:20

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Hi Luke, we may be able to help but it all depends upon what your current credit history is like and whether you have a deposit or part exchange to put into the deal. Also how much are you looking to finance and what car is it you want? We have one lender that accepts provisional licence holders but they only lend a maximum of £6000. Regards, Edwin

Posted by Edwin Miles on 04/04/2012 @ 11:24

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Everything is still registered at my previous address at the moment, I am in the process of changing it over, I am awaiting my new driving licence for my new address also

Posted by Paul on 04/04/2012 @ 14:42

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Hi Paul, get everything changed over and get your licence in your new address. Finally, get on the electoral roll for a few months and then apply. Keep your credit cleat too over the next few months. That is your best bet and will give you the best chance of being approved. Edwin

Posted by Edwin Miles on 04/04/2012 @ 15:16

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Hi Edwin, i currently have a so-so credit rating having got several direct debits that don't fail, a mobile phone contract (3 actually) that never fail and a catalogue. My partner and I both work and get a reasonable wage between us and we are looking for around £4000 to get finance. However, we dont as yet have a deposit and my partner has a very low/bad credit score which credit file searches are associating with me. I sought advice on this in the past however we got a lot of this 'bad credit' written off as it was to do with a past acquaintance of his can you help?

Posted by Ellen on 06/04/2012 @ 10:22

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Hi Ellen, if you apply please just apply in your name. We'll judge the application on yourself alone and not your partner. There's no point in your partner applying with you if his credit is worse than yours. Don't worry about the deposit either - we can take a your part exchange off you as full deposit that's if you have one. If not all we need to secure your car after you have been approved and you have chosen a vehicle is £100. As long as you have a driving licence and you're on the electoral roll we should be able to help. Oh and can you prove your income with payslips? Kind Regards, Edwin

Posted by Edwin Miles on 06/04/2012 @ 12:55

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I am looking to borrow around £6k for a car and to use my current car as the deposit worth around £1,500. I have poor credit as i was bankrupt and discharged in 2009. I found a car at the www.carshop.co.uk and they said they may be able to do finance but, they turned me down. How likely is it that you would accept me? I am on a good salary of £47k, what are my chances as I don't want to keep being declined?

Posted by Mike on 11/04/2012 @ 10:24

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Hi Mike, without knowing what lenders the car shop tried to get you approved with it's hard to know whether we'll be able to get you approved or not. I'd also need to see your credit profile which means making an application. Have you applied at any other internet brokers? What i can tell you is that we have access to more lenders than the car shop so there is a chance of getting you approved and the fact you have a £1500 deposit is superb. Regards, Edwin

Posted by Edwin Miles on 11/04/2012 @ 10:27

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Hi, I am currently looking for a new vehicle and would like to take out car finance if possible. The only problem is i do not have any previous credit history. I just have a mobile phone contract which i pay every month without fail. I also have a default registered against me for £365 which are unfair bank charges and i'm now dealing with the financial ombudsman so this is not money i have spent and not paid back but lenders will see this and presume i am very poor at organising my finances due to credit score etc. I have tried and tried with various companies to arrange some sort of finance but have come to a brick wall each time! I am in full time employment but as a temp which will hopefully go permanent in the coming weeks, do you think i could get finance or are my chances very slim due to the default?

Posted by Stefan on 26/04/2012 @ 22:39

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Hi Stefan, the default certainly doesn't help but the lack of credit is also a negative thing. Do you have any other loans, credit cards, store cards or car finance agreements? Are you on the electoral roll and do you have a full UK driving licence? Lastly, how much are you looking to finance and where have you applied online before coming to us? If you let me know i can tell you whether it'd be worth applying with us or not. Kind Regards, Edwin

Posted by Edwin Miles on 26/04/2012 @ 22:43

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Hello Edwin, I'm 25 years old with maybe 5 missed payments on a £2K loan in early 2006. I have taken phone contracts in this period of time to give my credit rating a boost with sucess. I also, in that timeframe got stung with £1000 of overdraft bank charges from one transaction. I have learned a valuable lesson and now know to watch finances. Can my landlady give a credit reference? I moved 1 year and 8 months ago, and started a new job in March meaning only the month of Feb I was not paid. I feel this job is stable and secure with confidence to try for a £2500 loan payable at £114 a month at 17 odd % for 2 years. I've appied for a credit check and am awaiting the results. Please advise. Best regards, Kyle

Posted by Kyle on 04/05/2012 @ 12:06

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Hi Kyle, there is a chance that we can get you approved for finance as you're in employment, have some current active credit and hopefully have a UK driving licence. A reference wouldn't be required from your landlord. We'll either get you passed with one of our lenders or we won't - it's pretty clean cut but all our lenders have different criteria. Please apply and we'll try our best to find a resolution. Regards, Edwin

Posted by Edwin Miles on 04/05/2012 @ 12:13

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Hi, I have suffered with my credit rating in the past years due to late payments. I have now paid everything off and have no debt and it has been this way for around 2 years. Unfortunatly though my credit score is still only 555. I have a mobile contract and household bills which are all paid on time every month but nothing else to show on my credit score. I am looking to get around £13000 finance over 48 months. My salary is £32000 PA. Do you think you can help?

Posted by Sarah J on 11/05/2012 @ 18:16

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Hi Sarah J, this may be possible if you can get a 10% deposit. Would this be possible? The good news is that your credit problems are now in the past and you have a little clean credit now. The £13,000 may be a stretch but we'll try our best and you have a good salary which helps. We can take a part exchange as a deposit, if you have one, which may help. Kind Regards, Edwin

Posted by Edwin Miles on 11/05/2012 @ 20:51

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