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What are my Chances of Being Approved for a £25000 Car Loan?

Hi, my credit score is 613 due to two defaults, one I know about which I have since paid off and satisfied and the other which is British gas from 2 years ago which I know nothing about.

My house has been rented out in the past and I'm sure a past tenant is responsible as the name that the gas account was set up in is spelt slightly different to my name. It spells Howskey. What are my chances of getting £25000?

Asked by John Hawksey

Hi John, thank you for joining our Q&A.

Apologies for the slight delay in getting back to you. If you require £25,000 you'll need a £4000 to £5000 deposit as your credit score isn't fantastic. Is this possible?

If so, please make an application as i do have a lender in mind that should be able to help you even though you have past defaults.

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 16 People

£
5 Years
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Rates from 6.9%: the exact rate you will be offered will be based on your circumstances

Representative example: borrowing £6,500 over 5 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £188.74 per month, with a total cost of credit of £4,824.37 and a total amount payable of £11,324.37

Rates may differ as they are dependent on individual circumstances. Subject to status.


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