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

If you’ve ever been turned down for credit, it’s natural to question ‘Why?’. Maybe you think you’re on a ‘credit blacklist’ and you’ll never get approved.

In fact, the ‘credit blacklist’ is a myth. Better still, just because you’ve been refused in the past, it doesn’t mean you won’t qualify for an affordable credit agreement now or in the future.

Whether or not you get an approval for finance is often a matter of individual lender’s policies. Here are a few common reasons for refusals:

  • Your credit report shows you already have a number of loans, and the lender is concerned you might not be able to afford another
  • You may not fit the lender’s profile – e.g. a credit card provider may only issue cards to people with fewer than three existing cards, or a mortgage lender might only specialise in first time buyers
  • You have ‘bad credit’ – the reason may be due to you being self-employed (perhaps down to you not being able to show proof of income), an outstanding CCJ, loan defaults, being in arrears or having your home repossessed for non-payment of the mortgage
  • You move around – many lenders prefer people who have lived in the same location for three years or more, or who can show a long term relationship with the same bank
  • You have a low credit score – lenders will give you a decision based on things like your credit history, the specific details on your application form and any details they may have if you’re already a customer

It’s important to understand your credit profile and the information that is on there. Accessing your credit profile allows you to see what behaviour is negatively or positively impacting your score, as well as being able to notice any mistakes on there and raising this if necessary.

Your credit score can and will change over time. However, as we work with a large panel of lenders, we can find the most suitable finance option for your individual circumstances. It isn’t necessarily an issue if you’ve been refused elsewhere, with many of our lenders being able to help customers in such situations.

Get a free copy of your credit report now from UK Credit Ratings*

*14 day free trial. After your free trial, a monthly fee of £19.95 applies

three members of staff looking at camera
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