Skip to content

Obtaining Bad Credit Car Finance

Have you been declined for car financing options? Are your credit reports showing some old arrears or bankruptcy issues? Whether you have bad credit or you are self employed it can be difficult to get a car financed. Note we do not say that it is impossible. There are options for those with bad to little credit. One option is considered the bad credit car finance deal.

Have you been declined for car financing options?  Are your credit reports showing some old arrears or bankruptcy issues?  Whether you have bad credit or you are self employed it can be difficult to get a car financed.  Note we do not say that it is impossible.  There are options for those with bad to little credit.  One option is considered the bad credit car finance deal.


A bad credit car finance option allows you to obtain the money you need to purchase a vehicle.  There are some positive and negative aspects of this type of loan.  The point is you could still get the car you need or want, but it may differ from the greatest deals you see advertised.


Positive Aspects:


•    You could still get the financing you need with bad credit car finance.
•    The lender would determine the loan based on the age of the arrears or CCJ’s you have on your credit report.  Older arrears could be discounted, opening up better options for your loan.
•    You would have a vehicle to drive.


Negative Aspects:


•    You may not be able to get your dream car.
•    The loan is based on your credit history and scores; thus you could pay more in interest than other individuals.
•    Bad credit car finance – as with other types of borrowing - often has penalties for paying the loan off early.


The outline above explains the aspects of bad credit car finance.  By using a specialist bad credit car loan provider, you can often access some attractive deals that will allow you to borrow money and soon be well on your way on the road.  Finally, remember that, as with all things financial, you should enter into an agreement that is comfortable for you and your financial circumstances.

Posted by on

Back to June 2009

Back to top