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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Do you have a question about Carfinance247 or its services? If so, please complete the form below for a response within 1 working hours. I have over 7 years experience working for Carfinance247 and have the responsibility to answer all questions asked.

I received a CCJ in my name in 2009 and i have bad credit. Will the car finance APR be high?

I received a CCJ in my name in 2009. I am now struggling to get a loan for a car. I was wanting to borrow around £2000.

I was wanting to know if the interest rate on a loan would be high?

Posted by Jess M on

Answer.

Hi Jess, thank you for your question. If you have a CCJ that's still active but it's under the amount of £5000 we should still be able to get you accepted for finance. The good news is that we do have lenders on our panel that help people with current & settled CCJ's..

However, as you have stated the APR unfortunately will be higher than those seen on the high street as the lender you get approved with will see you as a higher risk than someone without a CCJ. The amount you wish to borrow seems fine and if approved this won't be a problem as long as you can prove your income.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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Question.

My partner has a credit score of 763 but was rejected for a bank loan.

Would this go against her if she applied through carfinance247?

Posted by allan allen on

Answer.

Hi Allen, thank you for your question.

Your partners credit score seems reasonable to me and as long as they are employed with a full UK licence there shouldn't be any reason why we can't get your partner approved for finance. We do often help people who have been declined by their bank as we have many lenders on our panel.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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