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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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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 have really bad credit - can you get me guaranteed car finance?

Hi Edwin, i have a really bad credit history and a credit score of 211. I have added my brother to my application as a jont applicant - will this help me get accepted and does this mean he's like a guarantor? Thanks

Posted by Anthony on

Answer.

Hi Anthony, unfortunately we can't guarantee anyone is going to get accepted. What we can do is try our best with the panel of lenders that we work with to get you approved for bad credit car finance.

Any company who guarantees you car finance is leading you up the wrong path. Adding your brother to the car loan application will help improve our chances of gaining an acceptance. It will mean he acts as a guarantor so his credit would be effected also (along with yours) if you didn't keep up with the monthly payments. How old are you and your brother and are you both on the electoral roll at your current address? Are you both in employment also?

Please make a joint application when you're ready and if 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.

Hi Edwin, i need a diesel car for work as i'm driving long distances and petrol is costing me nearly £460 a month. I have a really bad credit history but i still pay all my bills on time. I've only been in my overdraft for 5months due to unemployment but with a diesel that will save me money and also get me out of my overdraft and also help my credit rating right? I've applied for finance from about 5-6 other companys and i have been refused at all of them. Does that have an affect on me and can you help me to get finance? Many thanks, Lori

Posted by Lorimar on

Answer.

Hi Lori, thank you for your question. Yes - the more credit searches you have against your name the more it will effect your credit score and in an adverse way so before applying with us can you tell me where you have applied on the internet? I'll then be able to tell you whether we can help or not. Regards, Edwin

Posted by on

Question.

carloan4you.co.uk / creditplus.co.uk / carcraft.co.uk. I think that's the only ones i've done. I'm not 100% sure though. Anything you can do? Cheers

Posted by Lori on

Answer.

Hi Lori, if CreditPlus and CarLoan4u have declined you then it's unlikely that we'll be able to help get you approved. We do however, have one more lender than they have to help sub prime people so it's up to you to decide whether you want to risk it. Kind Regards, Edwin

Posted by on

Question.

Hi there, I joined a debt management scheme 2 years ago and I pay that every month. Would that prevent me from getting car finance?

Posted by Sandy on

Answer.

Hi Sandy, it narrows our options but it doesn't mean that we can't help. Please apply on our website and i'll look out for your application. Regards, Edwin

Posted by on

Question.

Hi, i'm in a debt management program and can't even get an overdraft from my own bank. My credit is in an awful state! Do you think you can help? Been in work for past two and half years if that helps.

Posted by Martin on

Answer.

Hi Martin, we'll certainly try and help. Do you have any active clean credit and are you on the electoral roll? Also do you have a deposit in the way of a part ex or cash? Edwin

Posted by on

Question.

I need car finance but i have bad credit due to submitting quite a few finance applications and previous late payments.

I have paid up all my debts and have been employed with the same employer for 3 years. I am however still being declined for finance due to my credit rating. I have recently been turned down by carloan4u and Bristol Street Motors. Would you be able to help?

Posted by Oni on

Answer.

Hi Oni, than you for your question.

If you have been declined by Carloan4u we only have one more lender on our panel that is different to the ones that they currently use so there is a small chance we could help. Can you confirm that you have a full UK licence, can prove 3 months income and that you are on the electoral roll? Thanks, Edwin

Posted by on

Question.

Hi Edwin,

My wife's car broke down & is not worth repairing, we have been in a debt management plan for over three years now. I actually work in a car dealership and we don't have a deposit we can put down. Do you think there is anything you can do for us? Thanks, Donald

Posted by Donald Osborne on

Answer.

Hi Donald, thank you for your question.

We do in fact have a few lenders that help people get approved for finance even though they are in DM plans. A deposit isn't always necessary so that's good news.

As long as you have a UK licence, are employed proving your income with payslips and have some current clean credit we should be able to gain an acceptance. Please apply when you can and once approved you can choose a car from any dealer and we provide a no obligation quote. Kind Regards, Edwin

Posted by on

Question.

Hi there, I have recently been declined for car finance. This is because of my credit history.

Seven years ago I had my own business & was forced go into receivership. I have never been bankrupt but had fallen behind with my mortgage (up to date now) & other creditors. Can you help me?

Posted by Kevin Robert Kempen on

Answer.

Hi Kevin, thank you for your question.

As your bad credit was in the past and you now have your mortgage payments up to date along with other creditors i'm reasonably confident we could help. I can't guarantee an approval but we'll try our best. We do specialise in helping people that get refused elsewhere.

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

Posted by on

Question.

Hi, I've got a bad credit and my score is 682 but got a default on my credit file a few years ago.

My direct debit payments are in tact and i went to a BMW garage to change my car but I was refused and i've got £2700 left on my present finance. Is there any chance of getting a new car? I am working full time for 13 years.

Posted by lamin on

Answer.

Hi Iamin, thank you for your question.

You seem to have a fair credit score and as you have a long standing job and just the one default from a few years ago i'm confident we can get you accepted.

We have many lenders on our panel and often help people who have been declined by main dealers. 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

Posted by on

Question.

Hi, I have a bad credit rating and score of 301, I'm self-employed, and have £650 to put down as a deposit. Is it possible I could be accepted for car finance?

Posted by Jade Kirby on

Answer.

Hi Jade, thank you for your question.

We actually work with a number of lenders that specialise in providing finance to those with bad credit, and in circumstances similar to your own, so we may be able to help!

With regards to being self-employed, it shouldn't be too much of an issue, providing you can prove your income for the previous 3 months. Nothing is guaranteed at this stage but the £650 deposit should also help us to get you an approval.

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

Posted by on

Question.

Hi Edwin!
I have a bad credit score of 390 but have recently payed off my debts and I am in the process of rebuilding my credit score. I have a golf mk5 that I wish to trade in and get a car finance. Do you think I'd have a good opportunity or will I just be wasting my time? Thanks!

Posted by Darren on

Answer.

Hi Darren, thank you for your question!

Due to the fact that we work with a panel of lenders who often help customers with a credit score similar to your own, we may be able to help you!

Your part-exchange will act as a deposit and help us to find you an approval. Do you have any active credit currently that you are paying on time? Also are you on the electoral roll? These factors would help.

Please make an application when you're ready and if 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.

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Posted by Daniel on

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