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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Declined by Ford for Car Finance

Hi, we have been declined by ford finance for a car we are interested in. However, we have no CCJ's, have never defaulted on any payments and have a credit card each. We also finished paying a car loan last year.

We don't understand why we have been turned down. I wondered whether if it was applying with you. We need £9000 and have no deposit. Ford said it was not the amount we needed to borrow!

Posted by Vanessa C on


Hi Vanessa, apologies for the delayed response.

Regarding your question, I am pretty confident we could get you approved even though you have been declined by Ford. We do specialise in helping individuals that have been turned down by dealers, as we work with a large panel of lenders meaning we can find the best finance option for our customer's circumstances.

As you have some current credit, have completed a car loan last year and you say you haven't missed any payments recently or have any CCJ's, we should be able to secure you the amount that you require. When approved with us you can still get a car from the Ford dealer. We will just run through all the necessary checks & complete the paperwork so that the funds can be released.

As long as you have a full UK licence and can prove your income we should be able to get you an approval. If you'd like to see what we can offer you, please make an application. If approved, we provide a no obligation quote and you can buy a car from any reputable dealer. Kind Regards, Edwin

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Hi, I have a fair credit rating of 786 but have been refused by Ford due to some information on my credit report.

I was worried this would be an issue however checking my report prior to applying for finance and seeing it was fair I thought it would be ok. Clearly it's not. The dealer has offered me the option of allowing him to go to someone they use for finance if the Ford one is rejected but this will most likely be a higher APR thus making the monthly cost of the car higher.

What I would like to know is what are the chances of being rejected by this other company (not sure if I can name it but it's Blackhorse/Lloyds TSB). I don't want him to check and thus add another search (2 in a month the first being for Ford) to my credit report and resulting in my rating going down as it's now 740 if there is no chance of being accepted or if it is such high APR it's not worth it.

That being said if I'm not going to be accepted I would like to know if I went through a leasing internet company I would be accepted? Many thanks.

Posted by Victoria on


Hi Victoria, thank you for your question.

As you have a fair credit rating, we should be able to get you approved for car finance. If approved with us, we provide you with a no obligation quote and we also allow you to choose a car from any reputable dealership, so you could still get the car that you wanted from Ford.

We have many more lenders on our panel than the main dealers do, giving us a greater chance of securing you the best deal possible. We'll just conduct one credit search initially to see whether we can get you approved or not. This credit search does not appear on your credit profile either.

If you'd like to see what we can do for you, you can make an application here when you feel ready. Kind Regards, Edwin

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Posted by Francesca Eshun on

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