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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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Insurance issues with finance

I have a relatively poor credit rating and due to being made unemployed in July I have just got a job with a good wage and stability, I have applied for finance of £7000 with you but as I have just started have no pay slips yet is this a issue ? Also to insure the car I need to put a £700 deposit down is there a way of holding the application ? Or of adding the deposit of insurance to my finance? Thanks in advance for any help. Matt

Posted by Matthew on


Hi Matt, as you say you have poor credit we would need to see payslips to get you passed for finance. If we get you approved hopefully the £7000 won't be an issue but you may get a limit of £4000 to £5000 depending upon which lender you get accepted with. We lend a little money ourselves so we could help you with a deposit and you could use the £700 towards your insurance costs. Can you not pay monthly with your insurance provider? Most insurance companies allow monthly payments nowadays? Kind Regards, Edwin

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