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Hi, I am on the electoral roll and have finance at the minute with VW finance.
My dad was guarantor and i have paid it for 2 years without missing or being late with any payments. I am going to settle the finance of £2,400 next month. I have a £5000 to £6000 deposit to put on a new car that is £13,500.
Will i get finance in my own right if i have a credit card that i had sickness insurance that i started because of illness but will be settling in full before i apply? Will that stop me getting car credit?
Hi Paula, as you have a clean hire purchase agreement with VW and a large deposit i'm confident that we can get you approved for car finance even though you have credit card debt.
Are you employed and can you prove your income with payslips? Are you also on the voters roll? If so, please make an application and once accepted we provide a no obligation quote and you can buy your next car from any dealership.
Hi, I am in full time employment earning £20K PA, in the past i have been bad with credit but now have just over £2k in credit on 2 credit cards (both of which are active and being are paid on regular basis) My issue is my credit is still classed as "very poor" to "poor" due to 2 old defaults. I do have a guarantor with good credit but he is retired and over the age of 70. So my question is if i was to apply what are the chances of me being approved? I have applied elsewhere recently but got turned down and don't want to run the risk of this happening again as i am really trying to improve my credit rating.
Hi Paul, it looks like you're getting back on the right track. Where have you recently applied and been declined? I'm confident we could help as you have a good income and a guarantor (who you can use) and also a few active current profiles which you say are up to date payments wise :-)
About 4 years ago I got into a little trouble with credit cards etc. But since then, I haven't missed any payments. I have two credit cards, a phone contract (which I've had for 2 years) and a over draft of £500 and savings of £1600. I also have a car that can be traded-in. I've only moved into my address about 4 months ago, I did apply to be on the electron roll, but I was told I missed the deadline date. So to sum things up. What are my chances of getting car finance? My credit score is about 645, if that helps.
Hi Andrew, as you have had a clean profile over the last few years i'm sure we can get you approved with one of our lenders. Please apply when you get 2 minutes and let me know your reference number. If approved you can get your new car from any reputable dealer or choose one from our website. Regards, Edwin
Hi I have 2 credit cards that have about £9k outstanding and a loan for the same amount. Does your outstanding debt affect you getting car finance? I plan to sell my old car at 8300 to pay off my credit cards. I havent missed any payments and have a few other clear credit accounts such as a catalogue and phone contract which are all fine. Do you think I'll be able to get credit for a new car on a hire basis? If so how much cud I get?
Hi Clive, Today in order to obtain credit you need to have some credit, so if anything your existing credit should help you gain finance as long as the payments are being kept up to date. From what you have told me I am confident that you will be able to obtain finance for a vehicle. With regards to the amount it is hard to say as the finance company will set this. Please make an application so we can try and place you with one of our lenders. Kind regards, Edwin
I have vw finance already and never missed any payments what so ever but lately I have missed payments on credit cards and a catalogue. So will that let me down to get another finance on a another car with vw finance.
Hi Pippa, the missed payments on your credit card may cause you a few issues with VW as they want people with perfect credit histories. If you do struggle please come to us as we have many lenders on our panel and i'm confident we can help. If approved with us you could still get a VW from a dealer of your choice. Regards, Edwin
Hello, I want to get a car on finance with VW because they are doing a offer where you get free insurance for a year.
Now I have got a phone contract with Orange and I have not missed any payments in the last 3 years. I also have my student overdraft of £1,500 and have a Capital One card which has got a balance of £200. My credit score is on 645 - Will i be able to get the car on finance?
I do know that VW only take on people with very good credit history and your score of 645 isn't that high to be frank. Are you on the electoral roll at your current address and are you employed? If so, i'm confident we could get you approved but the amount you can borrow depends upon your monthly income.
We can provide 7 days free insurance but certainly not 1 year. Please feel free to try VW first but if declined please come and apply with us. When accepted we provide a no obligation quote and you can buy a car from any dealership. Kind Regards, Edwin
By the sounds of things, you work full-time and have some active credit. With regards to your student overdraft, as far as I am aware, this will not effect your credit score unless you have not paid it back after a certain period after your degree has ended. To confirm this, please check with your bank as the period of time you have to pay it until it effects your credit varies from bank to bank.
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