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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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What criteria do you take into consideration when looking at car credit applications?

I have constantly been refused car credit and other forms of credit! What things do you take into consideration when accepting people?

Posted by Paul Dent on

Answer.

Hi Paul, firstly i'd advise you take a look at your credit history with Experian.

This will show you what lenders look at when applying for finance. To get approved for car finance you need to have a driving licence, a UK bank account, be employed and be able to prove your income. Also, being on the electoral roll at your current address helps.

Do you have a good or bad credit history? Or even no credit history as this can effect your chances of being approved? Where have you applied in the past and for how much? We are specialists in obtaining bad credit car finance for people but we can't guarantee an acceptance.

Please make an application when you're ready and once approved we provide a no obligation quote and you can buy a car from any dealer. Kind Regards, Edwin

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Question.

Hello, is 4 months accounts / payslips as a company Director enough to qualify for car finance?

I have only been trading 4 months but have dividends over the value of the vehicle I wish to buy.

Posted by Mizanur Khan on

Answer.

Hi Mizanur, thank you for your question.

In short, 3 months bank statements is all that is required for proof of income so it is good news that you can provide these.

As long as you have a UK licence, a UK bank account, some recent clean credit history there should be no reason why we can't get you approved. Please apply when you're ready and once accepted you are free to choose a car from any dealer. Edwin

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