Help & Advice

I have really bad credit - can you get me guaranteed car finance?

Hi Rachel, i have a really bad credit history and a credit score of 211. I have added my brother to my application as a jont applicant - will this help me get accepted and does this mean he's like a guarantor? Thanks

Anthony


Answer

Hi Anthony, unfortunately we can't guarantee anyone is going to get accepted. What we can do is try our best with the panel of lenders that we work with to get you approved for bad credit car finance.

Any company who guarantees you car finance is leading you up the wrong path. Adding your brother to the car loan application will help improve our chances of gaining an acceptance. It will mean he acts as a guarantor so his credit would be effected also (along with yours) if you didn't keep up with the monthly payments. How old are you and your brother and are you both on the electoral roll at your current address? Are you both in employment also?

Please make a joint application when you're ready and if 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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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.

More related questions

carloan4you.co.uk / creditplus.co.uk / carcraft.co.uk. I think that's the only ones i've done. I'm not 100% sure though. Anything you can do? Cheers

Answer

Hi Lori, if CreditPlus and CarLoan4u have declined you then it's unlikely that we'll be able to help get you approved. We do however, have one more lender than they have to help sub prime people so it's up to you to decide whether you want to risk it. Kind Regards, Rachel

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Hi there, I joined a debt management scheme 2 years ago and I pay that every month. Would that prevent me from getting car finance?

Answer

Hi Sandy, it narrows our options but it doesn't mean that we can't help. Please apply on our website and i'll look out for your application. Regards, Rachel

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Hi, i'm in a debt management program and can't even get an overdraft from my own bank. My credit is in an awful state! Do you think you can help? Been in work for past two and half years if that helps.

Answer

Hi Martin, we'll certainly try and help. Do you have any active clean credit and are you on the electoral roll? Also do you have a deposit in the way of a part ex or cash? Rachel

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I need car finance but i have bad credit due to submitting quite a few finance applications and previous late payments.

I have paid up all my debts and have been employed with the same employer for 3 years. I am however still being declined for finance due to my credit rating. I have recently been turned down by carloan4u and Bristol Street Motors. Would you be able to help?

Answer

Hi Oni, than you for your question.

If you have been declined by Carloan4u we only have one more lender on our panel that is different to the ones that they currently use so there is a small chance we could help. Can you confirm that you have a full UK licence, can prove 3 months income and that you are on the electoral roll? Thanks, Rachel

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Hi Rachel,

My wife's car broke down & is not worth repairing, we have been in a debt management plan for over three years now. I actually work in a car dealership and we don't have a deposit we can put down. Do you think there is anything you can do for us? Thanks, Donald

Answer

Hi Donald, thank you for your question.

We do in fact have a few lenders that help people get approved for finance even though they are in DM plans. A deposit isn't always necessary so that's good news.

As long as you have a UK licence, are employed proving your income with payslips and have some current clean credit we should be able to gain an acceptance. Please apply when you can and once approved you can choose a car from any dealer and we provide a no obligation quote. Kind Regards, Rachel

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Hi there, I have recently been declined for car finance. This is because of my credit history.

Seven years ago I had my own business & was forced go into receivership. I have never been bankrupt but had fallen behind with my mortgage (up to date now) & other creditors. Can you help me?

Answer

Hi Kevin, thank you for your question.

As your bad credit was in the past and you now have your mortgage payments up to date along with other creditors i'm reasonably confident we could help. I can't guarantee an approval but we'll try our best. We do specialise in helping people that get refused elsewhere.

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

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Hi, I have a bad credit rating and score of 301, I'm self-employed, and have £650 to put down as a deposit. Is it possible I could be accepted for car finance?

Answer

Hi Jade, thank you for your question.

We actually work with a number of lenders that specialise in providing finance to those with bad credit, and in circumstances similar to your own, so we may be able to help!

With regards to being self-employed, it shouldn't be too much of an issue, providing you can prove your income for the previous 3 months. Nothing is guaranteed at this stage but the £650 deposit should also help us to get you an approval.

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

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Hi Rachel!
I have a bad credit score of 390 but have recently payed off my debts and I am in the process of rebuilding my credit score. I have a golf mk5 that I wish to trade in and get a car finance. Do you think I'd have a good opportunity or will I just be wasting my time? Thanks!

Answer

Hi Darren, thank you for your question!

Due to the fact that we work with a panel of lenders who often help customers with a credit score similar to your own, we may be able to help you!

Your part-exchange will act as a deposit and help us to find you an approval. Do you have any active credit currently that you are paying on time? Also are you on the electoral roll? These factors would help.

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

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Rachel Wilson, Underwriting manager

Asset 1 Just get in touch,

we'll try to help Asset 2

Rachel Wilson, Underwriting Manager

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.