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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Getting a Car Loan with a Default

Hi there, i am wondering whether it is possibe to get a car loan. I have a 55 Reg Peugeot 206 as deposit and there is no outstanding credit on this. I have a default on my credit account giving me a credit score of around 600. The default relates to Land of Leather and creation finance. It is for £1100 but I am refusing to pay as I feel I was mis-sold paymant protection and repair policies which I did not need. This is currently being investigated by the FSA. Your advice would be helpful. Many thanks

Posted by Andrew Manning on

Answer.

Hi Andrew, apologies for the delayed response. We do have lenders that help customers who have had defaults in the past and as your default is on an agreement for a sofa and not a car i'm confident we'll be able to get you approved. The fact that you have a part ex as a deposit is also great news. Please apply on our website and we'll try our best to get you into a newer car asap. Edwin

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Question.

Hello. I have bad credit due to a loan I have defaulted on. The loan is for £4,412. I started a new job and needed a car and have had to hire it which is very expensive. Would I be eligible for a car loan for a nearly new car?

Posted by Sharon on

Answer.

Hi Sharon, other than your default do you have any other clean active credit? We can help people who have had defaults in the past obtain a car loan but they must be employed, on the electoral roll and have some form(s) of other clean credit. Is this the case with yourself? Kind Regards, Edwin

Posted by on

Question.

Thanks for your reply Edwin. I am in full time employment, on the electoral roll and as far as I am aware other than the default on the loan, up to date with all other credit.

Posted by Sharon on

Answer.

Hi Sharon, thanks for the response. From what you have said we should be able to help. Please apply when you get a minute or so. Have a great evening. Edwin

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