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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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Is car finance the right option?

Hi Edwin, I'm looking to change my car. My current car I could probably fetch £2000 for and look to purchase something within the £10-12k mark. My Experian credit score currently sits at 831 and I am currently on the electoral roll with a full UK driving license. I do however have four defaults (Lloyds bank £1360, Clydesdale Finance £485, HSBC £217 and Black Horse £2620) Is car finance a suitable option?

Posted by Harvey N on


Hi Harvey, thank you for your question.

Firstly, it's great to hear that you have a healthy deposit available in the form of your current car. The fact that you have a few defaults isn't necessarily an issue - we actually have a number of lenders on our panel that specialise in helping those with previous credit issues.

We are often able to help those with credit scores similar to your own, and the fact that you have a full UK licence and are on the electoral roll are of benefit.

When you're ready, please make an application and we will see what we can do for you. Kind regards, Edwin

Posted by on

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I want to borrow up to 10k, I earn 32,000 per year and get 5 k qtr bonus, i have some missed and late payments on credit cards but no iva or ccj, My mum could be a guarantor if needed, she earns about 40k a year. I just dont like the thought of being refused. I also left my previous rented home due to break up so not sure if on elect-roll but my mother is a home owner, what are your suggestions?

Posted by Dahl on


Good morning Dahl. I hope you are well.

From the information you have given me, I would be fairly confident that we could get you an approval for car finance. A number of our lenders can help those with poor credit or past credit issues with finance, so the fact that you have a few late payments shouldn't be an issue. We'd initially try to get you an approval alone, but should our underwriters think your application would benefit from having your mother's name on there, we'll let you know.

I hope this helps. Kind regards, Edwin

Posted by on

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