Help & Advice

Excellent credit score but 1 CCJ - Can i get car finance?

Hi, I have scored a superb 979 in my recent credit experian scoring. I have never missed a payment on any payment (credit card, mortgage, loan) plus have settled previous debts also. On the electoral register too.

One negative though is 1 x CCJ (settled and satisfied). What are my chances of getting a loan with a good rate? Also if i was to trigger credit scoring twice during a short space of time would this be a negative? Thanks, Haramee

Haramee


Answer

Hi Haramee, i'm confident that we could get you a good rate of finance as your credit score is high and you have clean credit accounts on your current active credit. When was the CCJ and how much was it for? The good news though is it is now settled.

You tick a lot of the correct boxes so i'm confident we could definitely help and we have many lenders on your panel. What our skilled underwriters will do is take a look at your credit profile after you have applied and decide which lender to place you application with as all lenders have different criteria.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

Answer correct as of September 2016

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Total cost of credit

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Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

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More related questions

Hi Rachel, Thank you for your response. The CCJ was settled I believe in 2009. Experian mentioned it will remain on file until 2015. The amount paid was approx £600. Come to think of it I did successfully apply for a 12 months % free balance transfer credit card with tesco after hearing from people this will not be possible. Would I still be able to get good rates or is that a no no? I'd probably put down a £2k deposit. I do have some other debt I'm paying off for home improvement loans but never missed a payment (that was offered via my bank). Regards Haramee

Answer

Hi Haramee, thank you for your reply. As your CCJ was settled 3 years ago and it wasn't for a huge amount we should be able to argue your corner and get you a decent rate of between 10% and 15%. The fact that you have a deposit is also good news as it shows commitment on your behalf. Please apply when you're ready. Kind Regards, Rachel

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Hi Is that the best in terms of rate? I have a car to part-ex actually and i may add some money into the mix to form the deposit. Thanks, Ayoub

Answer

Hi Haramee, as your CCJ will still be visible on your credit profile you won't get a rate that's under double figures. The deposit and part ex would strengthen your application so that's great :-) Please apply when you're ready. Regards, Rachel

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Rachel Wilson, Underwriting manager

Asset 1 Just get in touch,

we'll try to help Asset 2

Rachel Wilson, Underwriting Manager

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender