I Have Bad Credit but Need Car Finance Without a Guarantor.
Hi, after carrying out research online, it looks like car finance will be ideal for me, considering I want to pay off my 1st year insurance upfront (£1500), leaving me short on funds to buy the car.
My credit is poor i presume. I have 2 defaults, 1 from student credit card, the other from Littewoods account. I also have debts from Argos around £280 which I have received a CCJ on. I got in this mess through silliness and now I am in agreement with all these lends and making payments on them to sort things out. I am on the electoral register to vote and have 2 mobile phone contracts which are always paid. I have been with these phone companies for over 5 years.
I want a fairly used Audi A3 or a VW Golf costings between £3 - £5K. I have started my job over a month ago, taking in around £800 a month. I'm 24, have a full UK licence and I have a monthly budget of £110 - £150 towards the car over 36 months.
Also, I could get a guarantor who has a good credit history should it help. What are my chances?
February 15, 2014
Hi Kobi, thank you for your in-depth question.
Firstly, adding a guarantor with a good credit history to your application will improve your chances of being approved but this isn't mandatory. Next, as you have a decent monthly income, are on the electoral roll and due to the fact that we have lenders who help people with past credit problems i'm confident we can get you accepted for circa £4000 - £5000.
Please make an application and once approved we provide a no obligation quote and you can buy a car from any dealer in the UK. Kind Regards, Rachel