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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Can i finance a car with 578 credit score?

I have a credit score of 578. I filed chapter 13 bankruptcy 2 years ago, but recently had it cancelled. Therefore my credit is showing past due payments through out the time that I was in the ch13.

I have recently paid off one vehicle and the other vehicle a 2008 ford Escape has £11k owed on it. I wanted to trade it in and put 5k down on another vehicle. I am a nurse grossing £72k/yr wanting to spend approx £30k on an SUV for my family. What are my odds in getting financed?

Posted by Melissa on

Answer.

Hi Melissa, thanks for your question.

From the information you have given me, I believe that we have a good chance of getting you approved for finance as you've got a healthy monthly income and a large deposit (£5000 cash + part-exchange).
Your credit score isn't the greatest and your bankruptcy will still be on your credit file, but I am fairly confident that we can find a great finance deal for you.

When you're ready, please make an application here. If approved, you can choose a car from any reputable dealership in the UK and we also provide a no obligation quote. Kind Regards, Edwin

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Question.

Hello, I have an Experian Credit Score of 774 and i earn £15k year. I was looking at getting a car for around £3000. Do you think i would be ok to apply?

Posted by Anita on

Answer.

Hi Anita, thank you for your question.

With a fair credit score and a healthy income, we should be able to secure you an approval for the £3000 that you require.

Please make an application when you're ready. 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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