Help & Advice

I received a CCJ in my name in 2009 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?

Jess M


Answer

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

Answer correct as of September 2016

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Hitatchi

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

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Rachel Wilson, Underwriting manager

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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.

Hitatchi

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