Can I get a car loan with fair credit history?
Hi, I am looking for car finance for roughly £3500 - £5000. I can obtain a deposit of about £400. Last look at my credit score It was 763. I have an old default which has been settled and is due to be dropped off my credit file in December this year (2012). I also have 2 separate late payments but these are more then 3yrs old, and have had clean accounts ever since. I have a full uk driving licence, and have lived in my house for 2yrs and 9 months, but was at my previous address for over 3yrs. I am on the electrol roll. I really need to get finance as my car has just been declared unsafe and will cost more then the car is worth to fix. I am employed but only been there 2 months and was unemployed before that due to having a baby. Is there any chance that I can get car finance?
July 31, 2012
Hi Sarah, thank you for your detailed question. With a fair credit history and a score of over 700 we should be able to get you approved for £3500 to £5000 with no issues at all. The good news is that your default is settled and you've had no missed payments in the last few years. The fact that you also have a £400 deposit and you're employed full time is great news. Please apply when you get chance. Kind Regards, Rachel