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What credit score do I need to be approved for car credit

I have recently got my experian report which gave me a score of 749 with late payments on my mortgage could I still get a car on lease or finance?

Posted by Jay on 11/01/2012 @ 20:51

Hi Jay, your credit score doesn't seem too bad at all if i'm honest. We've seen a lot worse! Please make an application as i'm confident that we can get you accepted with one of our panel of lenders. If you do get accepted the rate you pay will obviously be higher than those you see on the high street as you have a few late payments and you'll be seen as a slightly higher risk in the lenders eyes but the rate you receive will be set by the lender you're approved with. Kind Regards, Louis

Posted by Edwin Miles on 12/01/2012 @ 09:02

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im 20 year old and have a bit of bad credit due to job loss and not paying my phone bill due to that. would i still be able to get finance? how does it work

Posted by Laura on 12/01/2012 @ 19:45

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Hi Laura, do you have a job currently and if so do you earn over £800 p/month? If so, we may be able to help as long as you're not wanting to borrow too much. The maximum i think we'd be able to get you (as you have bad credit) is approx £5000. Do you have a full UK driving licence and are you on the electoral roll? Have you any idea of your credit score? Have you checked it out on Experian? Thanks, Edwin

Posted by Edwin Miles on 13/01/2012 @ 08:27

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Posted by Kyle on 23/01/2012 @ 16:07

Hi as far as I'm aware I have really bad credit. Getting a loan etc is near impossible for me. I've found a car and I'm able to put down a £2500 down payment and I'd need a future £1500 on finance. Are you able to help with the use of a guarantor etc? thanks.

Posted by Mike on 24/01/2012 @ 18:24

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Hi Mike, we'll certainly try and help and adding a guarantor will improve your chances of being approved. Where have you applied in the last 6 months? Have you applied at any internet brokers or have you just applied with high street names? The fact you have a deposit is fantastic as lenders like to see some form of commitment. Kind Regards, Edwin

Posted by Edwin Miles on 25/01/2012 @ 10:52

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Sorry I did mean without a guarantor, I applied with two companies that the dealers suggested an got declined by both and my deposit would be of £1500 not the £2000 I stated, thankyou

Posted by Mike on 25/01/2012 @ 15:40

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Hi Mike, what were the 2 companies names that dealers recommended?

Posted by Edwin Miles on 25/01/2012 @ 15:49

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Hi, My credit score is poor, 513 however there are some outdated items on there so if updated may increase by 100 points or so. I now earn £55k having received a £20k rise and would like a decent car. What do you think I would be able to borrow?

Posted by Mr Ric on 04/02/2012 @ 21:46

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Hi, I have 1 ccj from about five years ago and a few defaults from about the same time. I have a great job now and earn well over £40,000 per year. What amount of car credit (if any) would I be able to obtain?

Posted by Andrew on 02/03/2012 @ 13:46

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Hi Andrew, as your CCJ and defaults were approx 5 years ago we should be able to get you approved for at least £5,000 to £7,500. However, if you have a large deposit (or part exchange) we may be able to secure you a higher amount. Have you applied for car credit anywhere else online and if so, what has been the outcome? Lastly do you know your current credit score as that will help me give you a decision? If not, please apply so that we can credit search you and hopefully get an acceptance in place within a few hours. Regards, Edwin

Posted by Edwin Miles on 27/03/2012 @ 10:19

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I have a credit score of 770 on experian. Will this get me a good rate on a car loan? I am afraid of applying for a loan and risk being rejected and that affecting my credit score. I want to borrow £6500 over 60 months. I have not applied for a loan anywhere else yet.

Posted by Rhidian Crompton on 02/04/2012 @ 14:28

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Hi Rhidian, with a decent credit score of 770 we will definitely be able to get you approved for the £6500 that you need. We work with many lenders so you need not apply anywhere else as too many footprints on your credit profile has a negative effect. The rate you can expect will be between 9% and 14% but this really depends upon the lender you get approved with and your credit profile. Kind Regards, Edwin

Posted by Edwin Miles on 02/04/2012 @ 15:11

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Hi, I have a credit score of 376 on equifax . I've just finished paying off a car from first response finance without one late payment in the 3 years and a 2 year one before that. The reason my credit score was low is because of my ex wife as she was bad at paying her bills on time. I've got a contract phone which I've never been late on paying over the 5 years with Vodafone. I've been in straight employment for over 2 years and earn £50000 a year. I was wondering much I would be allowed for a new car, and what the APR would be?

Posted by Richard on 10/04/2012 @ 12:20

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Hi Richard, your credit score seems quite low taking into account you have paid your hire purchase agreement with first response on time over the last 3 years and the fact that you have a contract mobile phone. Do you have any other credit that is in arrears currently? However, i'm sure we can help you and obviously our car finance lenders love to see you paying for your car on time. Are you on the electoral roll at your current address and is your driving licence registered to your current address? If so, please apply and we'll try and get you approved. If we can get you approved you'll be able to secure more finance if you have a large (15%) deposit or a part exchange to place into the deal. You mentioned your current car - is that clear of finance? If not, how much is outstanding to First Response and what is the vehicle worth roughly? Regards, Edwin

Posted by Edwin Miles on 10/04/2012 @ 13:05

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Hi All, I have a very low score on my credit file of 376, I was very silly in my younger years and defaulted on two small loans each coming to a total of £400. I have since paid these off and have obtained a Mobile phone contract which I have been paying off every month for a year now. I have no debt and have a monthly net take of £1700. I am waiting for Experian to update my voters role status as I am currently registered. I have the top bank account with Clydesdale Bank aswell, however the two defaults seem to be preventing me from obtaining credit. I am eager to build my credit score and require some form of HP or Car Finance as my current car is ready to give up and for my job i'm required to travel at times when public transport isn't available. I have a deposit amount of £1000 and would be looking for £6000-£7000 can you help or advise?

Posted by Derek on 01/05/2012 @ 06:00

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Hi Derek, thank you for your question. Your credit score does seem low but it might be a factor of not having much credit at all. A small credit card with a low balance on from your bank would certainly help rebuild your credit file (as long as you paid the minimum monthly payments on time). It's important that you're on the electoral roll so make sure it has been registered before applying for car finance. As your old defaults are only for £400 i have a good feeling that we'd be able to get you approved as you have a large deposit of £1000. If approved the £6000 approx required wouldn't be an issue. I wouldn't be too concerned by your low score as our lenders that we deal with don't actually take the score into account given by either Equifax or Experian. The look at each case on its merits and they all have different criteria. Kind Regards, Edwin

Posted by Edwin Miles on 01/05/2012 @ 10:01

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Hello. I have a credit score of 675 (Poor). I finished paying of my bank loan last year and requested another loan and got a resounding NO!!! I have a couple of default payments from old phone bills due to me contesting their dis-connection charges. Eventually I just paid them. I now have another contract mobile. I am on the electoral register, rent private accommodation and am in full time employment on a basic of £44000 per year. I only want finance of around £4000. What are my chances?

Posted by Tafa on 01/05/2012 @ 13:12

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Hi Tafa, we should be able to secure you £4000 even though you have a credit score of 678 (i've seen worse). Do you have any other forms of existing credit and do you have a deposit? Regards, Edwin

Posted by Edwin Miles on 01/05/2012 @ 16:26

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Hi, I am currently working in Switzerland but live and maintain a house in the UK where I am registered for certain bills. I can provide proof of earnings but of course they are from my swiss company and also bank statements too. I have a clean credit record on both experian and equifax. Can I apply for £15k if I put down £4 to £5k on a £20k car? Mark

Posted by Mark on 04/05/2012 @ 11:24

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Hi Mark, if you apply for finance with your UK residency address and you have a good credit profile then we will be able to get you approved for finance without having to show or prove your income. All we'll need is a copy of your driving licence. The fact that you have a minimum of a 20% deposit also helps. Please apply and i'll get Alex our manager to look at your application. Regards, Edwin

Posted by Edwin Miles on 04/05/2012 @ 11:38

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I have a credit score of 226 plus a ccj. Do you think I would have any chance of refinancing the car I have at the minute? There's about £2300 left to pay on it?

Posted by Ben on 07/05/2012 @ 09:33

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Hi, i am currently attempting to repair my credit as it's in a very bad way. This has happened since losing my job just over two years ago which resulted in a CCJ and a default against my name leaving my credit score at 194. I am now in a well paid job at around £2400 net p/month. Do you think there is any chance of getting credit and what sort of limit would i be looking at?

Posted by Leigh on 07/05/2012 @ 15:51

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Hi Ben, unfortunately we can't refinance your existing car. We'd have to take it in part exchange and get you into a newer car. The minimum lend we offer is £3500 also. Lastly, your credit score seems incredibly low - what is your credit history like? Do you have many accounts with missed payments & defaults? Regards, Edwin

Posted by Edwin Miles on 08/05/2012 @ 09:30

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Hi Leigh, there is a chance of getting you approved for car credit and if we get you approved £4000 to £5000 should be possible. We have quite a few bad credit lenders so we'll try our best to get you approved. As long as you have a driving licence, can prove your income and you're on the electoral roll they are the main boxes ticked. If you have a part ex or deposit that also helps. Regards, Edwin

Posted by Edwin Miles on 08/05/2012 @ 09:33

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I think I only have 2 missed payments on one other account.

Posted by Ben on 08/05/2012 @ 09:48

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Hi Ben, please apply and we'll do our best to get you approved. Edwin

Posted by Edwin Miles on 08/05/2012 @ 10:39

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Hi, I have a very bad credit experian score showing as 659. I do have a car worth around £3000 (I could prob sell it for £3500 private but dont want the hassle) which I can part exchange. What are the chances of me getting around £4000 on finance?

Posted by Sarah on 20/05/2012 @ 14:19

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Hi Sarah, with a credit score of 659 and a £3000 part exchange deposit i'm pretty confident we'll be able to get you the £4000 to £5000 you need. Have you applied at any other internet companies and if so where & what was the outcome? If not, great as too many credit searches on your profile have an adverse affect. I take it you have a driving licence and are employed? If so, excellent as we'll need proof to get you a loan. Lastly, are you on the voters roll? Edwin

Posted by Edwin Miles on 21/05/2012 @ 08:36

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Hi there, just wanting some advice. I've got a credit score of 596 on check my file as i've got a default from welcome finance on a loan i had. However, i only owe about £90 so it's nearly settled and i'm looking for a loan for a new car. How much do you think i will be to get?

Posted by Janos on 21/05/2012 @ 12:51

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Hi Janos, as long as you're income is around the £1000 p/month mark and we can get you approved we should be able to get you approx £5000. Edwin

Posted by Edwin Miles on 21/05/2012 @ 14:04

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