Car finance companies have to consider your existing outgoings so they can check your affordability meaning they will need to complete a credit check.
We work with all providers of poor credit car finance in Derby and the rest of the UK so offer you the best chance of getting approved.
The only cases where a guarantor may be needed are if you are aged under 21. None of the car finance providers we work with for customers aged 21 and over ask for a guarantor, we will simply get a yes or no decision.
The finance providers we work with don’t check your “score”. They will look at your profile and also your recent credit to see whether you are in a better position than when you had credit problems.
Two of the finance providers we work with do install a black box (or tracker) that they can remotely turn off if they need to repossess the car. They only do this if your agreement is in serious arrears and you are not in contact with them.
Pay as you go car finance is a misleading term and sounds like you could choose to not pay if you aren’t using the car. This is not the case, the finance is a long term financial commitment and you need to think carefully before signing up to this,
No one can offer guaranteed car finance as it is not responsible lending. However, lots of dealers and brokers advertise for guaranteed car finance, these adverts are misleading and you need to know that you could still be refused the finance and have additional searches carried out on your profile.
Although we don’t offer guaranteed car finance, we do work with every provider of poor credit car finance in Derby and the rest of the UK, meaning we have the best chance of gaining an approval for you out of anyone.
Although a deposit is helpful to reduce your payments, we have bad credit car finance companies that will consider no deposit car finance. Some of our lenders will look upon a deposit or part exchange as increased commitment and may offer a loan on the condition that you pay a deposit but we always aim to try and get you approved with the smallest deposit possible.
Only you will know whether your credit file is likely to have changed since you last applied. If you have applied to us before and been declined then you would need to improve your credit file or allow time to pass without getting any further bad credit before it’s worth applying again. If you applied elsewhere, they may not use every UK bad credit car finance company so there may be a chance we could get finance approved for you where they have failed to. The only way to know would be to apply.
The finance companies we deal with have their own credit scoring system, so even if a credit reference agency labels you as Fair, Bad or Very Bad, this may not be reflected in the approval you are offered. They look at how old your credit issues are, the size of the issues and also look for any signs that you have attempted to pay off part or all of your debts. The only way to know for sure is to apply with us.
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