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I Have a CCJ in My Name and I Have Bad Credit. Will the Car Finance APR be High?

I received a CCJ in my name in 2009. I am now struggling to get a loan for a car. I was wanting to borrow around £2000.

I was wanting to know if the interest rate on a loan would be high?

Asked by Jess M

Hi Jess, thank you for your question. If you have a CCJ that's still active but it's under the amount of £5000 we should still be able to get you accepted for finance. The good news is that we do have lenders on our panel that help people with current & settled CCJ's..

However, as you have stated the APR unfortunately will be higher than those seen on the high street as the lender you get approved with will see you as a higher risk than someone without a CCJ. The amount you wish to borrow seems fine and if approved this won't be a problem as long as you can prove your income.

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

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 12 People

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

Rates from 6.9% APR: 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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