Can I get a car loan with fair credit history?
May 14, 2012
Total cost of credit | £ 2000 |
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Total repayment | £ 2000 |
48
monthly
payments of |
£
245
98
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Rates from 9.9%: the exact rate you will be offered will be based on your circumstances, subject to status.
Representative example: borrowing £25,000 over 48 months, £3,750.00 deposit, on PCP, with annual mileage of 8,000pa, and a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed), the amount payable would be £394.51 per month, an optional final payment of £7,194.33, with a total cost of credit of £9,912.36 and a total amount payable of £28,444.33.
We look to find the best product from our panel of lenders and will offer you the best deal that you’re eligible for. We earn a commission for providing our services, but this does not influence the interest rate you’re offered in any way.
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
Asked by Sarah
May 14, 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
Hi. I am looking to get credit for a new car. I wonder how I will get on. I want to buy a car worth £16700 and put down £5000 deposit. I have a salary of £52k per year. My credit report reads 371 with equifax which I believe is average. I moved house in D
Asked by Liam Simpson
May 14, 2012
Hi Liam, as you have a large deposit, a good income and some current clean credit i'm confident we'd get you approved for the amount you need. Please apply when you get a moment. Regards, Rachel
Hi, I am looking to get car finance on a BMW worth around £22k. Its called PCP (BMW Select). I have a £5000 deposit to make and the payments are around £280 p/month. My income at the moment is up and down around £800-900 net but in about two
May 14, 2012
We work with a panel of different lenders and some of them are able to help customers with a fair credit history get car finance. We can’t guarantee that we’d be able to help you get a car loan as everyone’s circumstances are different and we’d need to look at your individual details to find out if we can match you to one of our lenders. Get a quote to find out more. Representative APR 24.9% with fair credit.
Hi, I have a couple of questions about finance for a car for about £5-6k and I can get a deposit of around £1k if needed.
However, I do have a three outstanding defaults. 2 are due to expire in the next couple of months and was for about £20
Asked by Gavin Newb
May 14, 2012
Hi Gavin, thank you for your detailed question!
The good news is that we do have lenders on our panel who help people with past defaults get car finance. As you're self employed we'd just need to see 3 months bank statements proving your income. Hopefully this won't be a problem.
Your credit score does seem quite low however, this may be down to the recent credit searches on your profile so don't worry too much about this. Having a £1k deposit will certainly help matters so please place that down on the application form.
All in all from what you have said i'm confident we could get you approved for £6000 - we can't guarantee but we'll certainly try our best. We also have the most lenders on our panel than the majority of brokers.
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
Hi, I have recently started my own company. Before that I had a salary more than 70K. Now my company invoices are almost 11k per month. My credit score in last year June was 451, which was good in Equifax record. Now I needed a car loan of 15k. I also wan
Asked by Sam
May 14, 2012
Hi Sam. Many finance companies require that you be self employed for a minimum of 12 months. However here ar CF247 we deal with most lenders on the market and work with many lenders who don't require that. Your credit score is good and I am confident that we will be able to do something for you. Please make an application when you are ready so we can get the ball rolling :) Thanks Rachel
Hiya, I had a ccj which has recently been removed and now my credit seen by lenders is 683 and credit seen by landlord and employees is 826. I have a defult on my file which was put on my file 3 years ago. I currently drive a 57 corsa which I would like t
Asked by Elizabeth
May 14, 2012
I have a credit rating of approx 750 (fair) with a minor default (£300 from a student overdraft) I'm looking for a loan in the region of £7000 and have a P/X and approx £1k deposit. I have recently been declined by a high street bank. I dont want to re ap
Asked by Tom
May 14, 2012
I have a fair credit rating of 761 but limited credit history. I have only held a bank account for about a month and didn't have one previously. I have a Kia Picanto 2004 model to be traded in for about £1000 in cash. Would i need a guarantor or can i get
Asked by Chelsea Reynolds
May 14, 2012
I have been at my Parents address for 16 years, I have a mobile phone contract and I am on the ER, I have a credit rating of fair but had one default with a mobile phone company in 2008, I am looking at getting around 5k? Do you think you could help? I
Asked by Rory
May 14, 2012
I have just started paying myself around £55k per year (2 months of payments at 55k, previous payments about £1333 per month) from my Ltd company. I have always lived at the same address, voters roll etc. I have been on time for my credit card payments ap
Asked by David Rawlins
May 14, 2012
Our Manchester based team are ready to help you.
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