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I Have A High Income but A Bad Credit Score. Can I get Car Finance?

I earn 6 figures but I take a minimum wage and dividends.

I have a CCJ satisfied in 2011, 3 defaulted accounts which are also satisfied in 2011. I went through a bad patch. I am on electoral roll and have an accountant. I have a BMW 525 to P/X (bought 2004).

What are my options?

Asked by Felix

Hi Felix, apologies for the delayed response.

We do have lenders that can help those with poor credit histories with finance, so we would be hopeful that we could help. In regards to the rate that you will receive if approved, this will be determined by the lender we can get you accepted with.

What is your part ex worth (approx) and how much are you looking to finance? As you take dividends we'd need your accountant to write a letter to confirm your earnings. You are on the electoral roll which will help too.

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

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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