I've defaulted on all my finance agreements & i cant get car credit anywhere. Can you help?

Hi, I have a really poor credit score of 434. I am registered to the electoral roll, have a full time job and earn around £1300 a month. I have 5 defaults, 3 satisfied, 2 outstanding at £345 and £200. I'm guessing I don't stand a chance of getting a new car? I would be looking for around £6k-7k with maybe a £1k deposit/part ex. Thanks.

Asked by Craig
July 15, 2012

Hi Craig, as your defaults are for small amounts there is a chance we can get you approved and if you were approved the £6000 shouldn't be an issue as you have a decent income and a £1000 deposit. Please apply when you're ready. Rachel


CCJs, defaults and IVAs related questions

Hi, 2 years ago I was self employed and I got into a little financial difficulty. I have 2 defaults (one is settled and paid) the other I am paying per month fine. I have an arrangement to pay loan that will be settled in 6 months (£80 a month). And then

Asked by Daniel
July 15, 2012

Hi Daniel, it's a tricky one to answer without looking at your credit profile. We do specialise in helping people with an impaired credit history and i'd love to help. But we need you to apply so that we can see your credit profile and assess whether any of our lenders would take a chance with you. Hopefully they will as we do have strong relationships with them. Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 12 People

Hi, I am looking for car finance but have already had one refusal and dont want to keep applying and ruining my chances of getting credit any more. I have a 2005 Ford Transit van, 69000 miles, which I'm looking to PX for a family vehicle of around 8000. H

Asked by Elaine
July 15, 2012

Hi Elaine, A CCJ won't necessarily prevent you from obtaining finance as long as any credit accounts you have are being paid. The main issue I can see is that you are part time. Many lenders require customers to be in full time employment. However we do deal with lenders who would consider you. You would need to make an application so we can see how we can help. Thanks, Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 4 People

Hi, i have a ccj for 1600 from 5 years ago but i have satisfied it about 3 years ago. All of my other accounts are up to date and in the green, including my phone contract, credit cards and catalogue bar one which is a loan from 5 years ago which I defaul

Asked by Craig
July 15, 2012

Hi Craig, Thank you for your question and I apologise for the late response. The good news is we should definitely be able to place you with one of our lenders. It is clear from what you are telling me that you are trying to improve your credit profile. Are you registered on the electoral roll at your current address as this will help yet it is not essential. Please make an application when you are ready so we can see how we can help. Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 10 People

Hi, I have a couple of defaults on my credit score and I am going through a debt management plan for debts that I picked up a few years ago. However I am now earning good money and I'm making regular payments to this and have never missed a payment for a

Asked by Darren
July 15, 2012

Hi Darren, we do have lenders who take people on who are in debt management plans and have defaults on their records so please apply and we'll try our best to get you approved. Obviously i can't guarantee anything until we've seen your profile as some people are a lot worse than others. Would you have a deposit at all as that would help your cause? Kind Regards, Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 4 People

Hi, I have a bad credit history with defaults that aren't yet satisfied. I have just a few months on a loan from my bank to pay off that I have not defaulted on and a store card that I have kept up to date for about 18 months. What are the chances of a ca

Asked by Nicola
July 15, 2012

Hi Nicola, from what you have said it looks like you have some bad credit and some good credit which is better than just bad. What i’d like to know is how much your default is for. If it’s over £5000 we may struggle to get you approved but if it’s under £5000 we may just be able to help. If approved we can also take your part ex off you and get you into a newer car in no time. Please apply and we’ll try our best to get you accepted.

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 7 People

Hi, I have a £400 per month for a car allowance with my new job. I have a credit score of 625 and I'm in a debt management plan. I am moving into a new house in June and I'm currently not on the voters role, although I am in full time employment and I am

Asked by Tim
July 15, 2012

Hi Tim, we can potentially get you approved for car finance but as you're in a DM plan would you need authorisation from your creditors? Also not being on the electoral roll does have an adverse effect on obtaining car finance. Where did you apply and get declined and lastly would you have any form of deposit? Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 5 People

I experienced some financial problems in 2009 and as a result have around 18 defaults on my file. I'm currently in payment arrangements with all the creditors. Plus I have a settled ccj from march 2010. Taking all of this into account I manged to get a cr

Asked by Carrie
July 15, 2012

Hi Carrie, it'll be a struggle to be completely honest as 18 defaults is a serious amount. However, as your credit score has improved and you now have some active clean credit it is not a lost cause. As long as you're employed and can prove your income and you're on the electoral roll we have a chance. Please apply when you feel ready? Also would you have a deposit? Kind Regards, Rachel

Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 4 People

Hi,I completed an IVA about 3 years ago and this is no longer on my credit report. I have managed to get 2 credit cards, one of which is paid off and the other will be paid off in about 3 months. I also have a mobile contact and have not missed a payment

Asked by David M
July 15, 2012

Hi David, as long as you've made every financial payment on time for the last 3 years i'm sure we'll be able to get you approved for car finance. Do you have a deposit as some lenders look favourably on this? Don't worry too much if not as we have access to many lending companies. Lastly, are you on the electoral roll at your current address and can you prove your income? If so, we should be fine. I take it you have a full UK licence too. Please make an application and hopefully we'll get you accepted today. Regards, Rachel
Tim Carpenter
Tim Carpenter Car Finance Expert

Liked by 5 People

I am currently in year 3 of an IVA and need a newer car. I am currently coming to the end of paying off the present car finance in September after a 4 year contract. I'm employed full time, have a phone contract, i'm on the electoral roll in the same addr

Asked by John Gilbody
July 15, 2012

Hi John, we'll certainly try and get you approved for a new finance deal. Would you be using your current car as a part exchange and as a deposit once the finance has cleared? If so how much is the car worth approx? We do help people in IVA's but every case is different so we can't guarantee anything. Good luck and please apply when you can :-)

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