Help & Advice

Refused Car finance by Nissan can you help?

Hi, 3 years a ago I got number of defaults due to long term sickness - i resulted in a default which I cleared within 6 months.

I need a new car for work as does my husband. We own a car which will be used as a deposit and we are looking at a PCP deal. However RCI / Nissan refused us finance and I don't know what options are available to us. We don't wan't to own the cars. Can you help?

Donna Morton


Answer

Hi Donna, thank you for your question.

As you have defaults on your credit profile from as recently as 3 years ago you won't get a PCP deal from any manufacturer unfortunately. Manufacturers typically finance people with excellent credit scores only.

We could help you get car finance but we may struggle to get you a PCP deal. We can try with one lender we have in mind but i can't guarantee an approval with them. If refused with that particular lender would you consider a hire purchase finance deal over 4 or 5 years? This may be your only option but you will own the car when the payments have finished.

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

Answer correct as of September 2016

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Borrowing £7,500 over 4 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 £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83.

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Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

Representative example:

Borrowing £7,500 over 4 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 £246.43 per month, with a total cost of credit of £4,328.83 and a total amount payable of £11,828.83.

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

CarFinance 247 is a broker and not a lender

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