Once we have received your application, we search through our network of car finance providers to find you the best deal available. This normally takes a maximum of 3 hours.
We will then contact you to confirm the exact repayments and what documents you will need (usually just a payslip and driving licence).
If you are happy with your payments, then we will arrange for you to come down, test drive the car and sign the finance documents.
We usually receive clearance from the finance company a few hours later.
Due to the nature of the relationships we have in place with our finance providers, they are inclined to offer finance where customers have had bad credit in the past. They will base decisions on your recent credit, monthly income and home/job stability.
Not every customer is approved for finance, but we are confident that we offer you the best chance of getting finance in the Midlands.
In a word, no. We don’t offer guaranteed car finance, no one does. The advertising you see on the internet is misleading. The Financial Conduct Authority says that you have to lend money responsibly and assess whether someone can afford finance before you offer it to them.
So, guaranteed car finance doesn’t exist, but if you want the best chance of being approved for finance in the Midlands, we are the place to apply.
The best way to find out what your credit rating is like, is to have a look at it. Currently noddle.co.uk and experian.co.uk offer this as a free monthly service and will give you an overall points total and rating. However, just because Experian say your credit is bad, doesn’t mean you will necessarily get the payments advertised for bad credit, the finance companies we use have their own ideas over what your credit rating and risk is to them and that is how they calculate the payments they offer to you.
Read our article www.getabettercar.co.uk/news to see 5 tips to improve your credit rating.
The first thing you should do is see how this shows up on your credit file. Your main objective should be to avoid getting a default as this will stay on your credit file for up to 6 years and could lead to a CCJ which may lead to the lender getting your employer involved in order to recover the funds!
If you can see that your account has not yet been defaulted, you should speak to the company and arrange a way to avoid getting a default in the short term (agree a payment plan or pay them off) and then pursue the matter once you have protected your credit file. If you need help for how to proceed once you have done this you should contact the Citizens Advice Bureau or the Money Advice Service.
Unfortunately, once you have bad credit, you become more of a risk to a finance company and the statistics show that customers with fair and bad credit have a much higher default rate than those with good credit which means that lenders have to offset their risk by charging a higher rate.
Taking out new finance is often something people do to improve their credit rating but you should think carefully about buying a car on finance as it is a long term commitment that you are entering into.
Only a couple of lenders use black boxes to offset some of their risk. It is a myth that they will turn your car off if you miss a payment. The only way they will do this is if you show no signs of willingness to speak to them or make further payments,
The black box is not used to track the car and is simply used to ensure you pay for your finance. As I said, the majority of our finance providers don’t use this system and you’ll be advised if the company you are approved with do.
There really isn’t such a thing as pay as you go car finance, it is something that certain dealers and finance companies choose to advertise which could be construed as misleading to customers.
Every car finance contract has a repayment term to it which is usually between 3 to 5 years and if you stop paying your car finance, you are likely to still be liable for the majority of the remaining balance.
Due to the experience we have in the car finance industry and relationships we have with every UK fair and bad credit car finance provider.
We have several great reviews on www.facebook.com/getabettercar from customers who have tried and failed to get car finance in the past as well as reviews from customers who could not believe that their repayments were so cheap.
We really do search the fair and bad credit car finance market for you which leaves you with the confidence that we are Nottingham and Derby’s fair and bad credit car finance specialists.
We have access to Approved Used Vauxhalls through our network meaning that we can source Vauxhall Corsas, Vauxhall Astras and Vauxhall Zafiras with great service history and low number of previous keepers.
We find that Vauxhall also have great user reviews and are very reliable cars. They also specialise in economical engines keeping their cars very cheap to run.
