Car Finance with Bad Credit Card in UK (April) 2022 | Bad Credit Car Finance

Car Finance with Bad Credit Card in UK

What is bad credit?

You may be unsure of your own credit rating, so here is some information to help you understand more.

Car Finance with Bad Credit Card in UK – Bad credit can be brought about by a number of things; Car Finance with Bad Credit Card in UK missed or late payments towards your credit cards or any other loans or finance, arrears, defaults and County Court Judgements (CCJ’s) which are the main contributors.

Also, as crazy as it sounds, Bad Credit Car Finance if you have no history of any previous loans on your credit file this can also have an adverse effect on your credit score. So what do you do if you have a poor credit score and need to get a loan for your next vehicle?

As a result of the global credit crunch a huge number of lenders have withdrawn from the market and people with impaired credit are concerned that they are no longer able to arrange the loans and finance that they need.

How does bad credit car finance work?

Bad credit car finance is designed for people with poor credit scores to buy a car. As car finance brokers, we understand that everyone has a different credit history. That’s why we can offer car finance with bad credit – even if other lenders have refused you in the past. Car Finance with Bad Credit Card in UK (April) 2022

Our financing is still applicable if you have an Individual Voluntary Agreement (IVA), a County Court Judgement (CCJ), a previously- declared bankruptcy, or if you are self-employed.

We believe everyone deserves fair and unbiased judgment – so no matter your credit history, we’ll assess every case on its own merits and your circumstances. Additionally, we have a car finance calculator that will help you get a picture of how much time it’ll take you to pay out the loan.

Car Finance with Bad Credit Card in UK (April) 2022
Car Finance with Bad Credit Card in UK (April) 2022

Can I get car finance with bad credit?

Yet, it is entirely possible to get car finance with a bad credit score. The Carplus team looks at situations on a case-by-case basis to find the perfect deal.

Brokers need to make sure you are the right financial fit to get bad credit car finance; thus, they must carry out credit checks. However, if you have a bad credit score or no credit score at all, it may not be easy to find a lender who will approve your bad credit history for car finance. Car Finance with Bad Credit Card in UK (April) 2022 | Bad Credit Car Finance

Our Bad Credit Car Finance Deals

With our fast, impartial and straightforward service, we can find car finance for bad credit ratings from a variety of leading lenders. Our carefully hand-picked market leading lenders provide car finance for a range of different credit needs.

As bad credit car finance specialists, we can help you find the lenders that are most likely to accept your application for car finance despite a bad credit rating. Not only that, but we’ll help you discover which of these lenders give you the best rates. Tell us about yourself so we can assess your eligibility, and then we’ll go find you the best lender with a low car finance rate. Simple! Car Finance with Bad Credit Card in UK

How to improve your credit rating

 If you find yourself with a less than desirable credit score, don’t panic. In time, you can turn things around.

One of the best ways to enhance your credit file while improving your credit score is to use credit cards well. This means paying for something, like a holiday or computer, using a credit card and paying off the amount in full and on time. 

But get the balance right: use some credit on a regular basis, but never take on more than you can afford. Even having open – and unused – credit accounts can work against you. So close any that you do not need. 

Registering for the electoral role will make it makes it easier for lenders to identify who you are, and improve your score.

Avoid making multiple applications for things like loans, credit cards or mobile phones in a short period of time, as it gives a bad impression and your score will be negatively impacted.

Keep applications to a minimum

Generally, the more loan applications – or ‘hard searches’ as they can be known – you make, the greater the negative impact on your credit history, so it’s a good idea to make as few as possible.

Initially, an eligibility check, or ‘soft’ search, is a much better idea than a formal application. While it won’t tell you for certain if a finance company will offer you a loan, it will give you a good indication, and it won’t appear on your credit history.  

Pay off your debts

It sounds obvious, but if you have a bad credit history, one of the best ways to improve it is to pay off as much or as many of your debts as you can. This won’t wipe out a bad history, but it will show lenders that you’ve made a positive effort.  

Those with the best credit scores have a history of paying off their loans on time every time, so this is what you should aim for. Car Finance with Bad Credit Card. Bad Credit Car Finance

Cut ties with other people with bad credit  

It might not necessarily be you who has a bad credit rating; it could be someone with whom you have a financial association, such as a joint bank account or mortgage, that is affecting your eligibility for car finance.

In a lot of cases, this can be unavoidable, but if something like a joint bank account is your only tie to that person and you no longer need it or could get by without it, formerly disassociating yourself might improve your credit rating.. Bad Credit Car Finance Car Finance with Bad Credit Card in UK (April) 2022 | Bad Credit Car Finance

Leave a comment