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Car Finance Expert Q&A

Hi, I'm Edwin and I'm here to help you!
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Edwin Miles. Underwriting Manager

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Turned down for a car loan

Hi there, I have just been turned down for a loan of £7500. I am employed full time with a decent salary and am on the electoral role but am not a homeowner. I now want to try again for a smaller amount, around £2700 for a cheaper car, but will the fact that I have just been refused have a negative impact on this application? Before the refusal, my credit was fair, at around 780. Many thanks.

Posted by SJ on


Hi SJ, thank you for your question. Can i ask - did you get declined initially by us or another company? Regards, Edwin

Posted by on

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Thanks for your reply. It was another company. I have checked my credit report, with Equifax this time, and it is 484 (in the 'excellent' range). The company told me I was turned down because I moved job and house in the last two years which seems very unfair.

Posted by Sj on


Hi SJ, if you have fair to good credit then we'll be able to get you approved with no issue and we should be able to get you more than £2700. Edwin

Posted by on


I have recently been turned down for a car loan. My credit is not fantastic and I have had few missed payments in the past but othing significant but another concern is I am living with a partner who's credit is so not good. How is that going to affect me? This is the first time I am going it on my own to buy a car and I find it daunting. I am ideally looking for a smallish car. I want to look at 2 options with a deposit of £1500 or smaller deposit. What are my chances.

Posted by Dannette on


Hi Dannette, we should be able to help so don't worry. Living with a partner who has poor credit won't effect your chances of being approved as the lenders will look at your history only. Obviously if you have any joint credit accounts that are in arrears they will show up though. You have a decent deposit so getting you into a smallish car won't be a problem if we can get you approved. Are you employed and are you on the electoral roll?

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