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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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£6000 for Car finance

Hello, I'm looking to buy a new car around £6000. I have a car at the moment with £1600 finance outstanding. The value of the car is around £2800. I have tried a few companies but have been refused.

I have a poor credit history due to problems last year. Is it worth me trying again or just give up and try again in a few years?

Posted by Michelle on

Answer.

Hi Michelle, £6000 for car finance shouldn't be an issue at all as we specialise in helping those with past credit problems. You say you've been declined elsewhere - can you tell me the companies you've applied with so that i can give you some further advice on whether we'll be able to help?

You also seem to have £1200 equity in your current vehicle which is great news as this can be used as a deposit on a newer car. 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.

I applied through arnold clark was not told who they applied to , im in full time employment have a full driving licence , am on voters roll same address for the last 11 years

Posted by Michelle on

Answer.

Hi Michelle, we have more lenders than Arnold Clark on our panel. Please make an application and i'll look out for it. We should be able to get you approved. Kind Regards, Edwin

Posted by on

Question.

Hi, i have a credit score of 878 with experian but have a £2500 default from 2008. What are my chances of getting a car a car loan for about £6000? I am on the electoral register and i earn in excess of £40k per year.... I have also got about £1k deposit.... i don't want to damage my credit by applying for lots of different loans etc..... can you help?

Posted by Iain on

Answer.

Hi Iain, as you have a large deposit, a good income and a fair credit rating i'm confident we can get you approved for £6000. Please apply when you get 5 minutes. Edwin

Posted by on

Question.

Hello, I want to get a £6000 loan for a bigger car. I've just finished paying off a five year finance agreement on a car without any missed payments. My credit rating is 953 but I have one default on a car loan from 5 years ago when I was made unemployed. I don't want to apply for finance incase I get refused and it will lower my credit score. I have a deposit of about £1000 and can access savings of about £1000 if I have to get a car for about £7000. Do you think i would get a car loan?

Posted by Jackie on

Answer.

Hi Jackie, with a credit score of 953 i'm more than confident that we can get you approved for a £6000 car loan. You also have a large deposit which looks good from the lenders point of view. Please apply on our site when you get 5 minutes. Don't worry about being declined as we have many lenders on our panel. I look forward to receiving your application and getting you accepted for car finance.

Posted by on

Question.

I earn £140 a week and have sent off my request for finance on a car selling for just over £6000 and will be paying it off over 5 years, I have no bad credit history. Do think I will be approved?

Posted by Rachel on

Answer.

Hi Rachel, if you have no bad credit then i'm sure you'll be approved and for the £6000 that you need. Do you have any current active credit profiles that you pay on time (credit cards, loans etc) and are you on the electoral roll? Lastly, would you have any form of deposit? Have a great day, Edwin

Posted by on

Question.

Hi I'm 24 years old, i've been looking for loans to buy a car however I have not been able to get one. I am looking for a loan of £6000 over 3-5 yrs with a not to high APR. I have a credit rating of 840 (through Experian) I have a full time job which brings in £952 PCM my highest expenditures are phone bill approx £36pm and rent to guardians £100pm. I am also on the electoral roll. Bottom line..could you help?

Posted by Graeme on

Answer.

Hi Graeme, Your credit score is actually very good so we should be able to secure you the good rates you are looking for. However you would need to apply before we can be 100% sure. Thanks Edwin

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