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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Approved car finance for a teacher with poor credit

I have a credit rating of 570 (with Experian). I was very silly with credit during my student days. I have paid off all my debt in full and have no ccj's or iva's etc. I am a full time teacher with a salary of nearly £30k. I would be able to come up with a deposit. Would I be able to get car finance?

Posted by Katy on

Answer.

Hi Katy, thank you for your question. As long as your debt has been cleared or is being paid off each month on time and your current credit / loan accounts are up to date then we should be able to get you approved for car finance. As you're a teacher and in a stable job the lenders will look favourably on this. Are you on the electoral roll and do you have a UK driving licence? Lastly can you prove your income with payslips and can you provide a proof of address (utility bill / bank statement etc)? The fact that you can raise a deposit is also good news. Everyone's circumstances are different as you can imagine so we can't give a definitive answer until we've seen your credit report. However, as we deal with many lenders i am confident that we'll find one to meet your requirements. I look forward to receiving your application. Kind Regards, Edwin

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