If you are looking to finance a brand new or used car purchase then we are here to help make sure that this happens for you even if you have Bad credit showing on your credit file. Our panel of specialist lenders is able to look at applications in a different way from what you will be used to with the high street and so can typically offer car finance for bad credit approvals – even within the hour!

Quick decisions

Often with car finance – it can be a waiting game for many UK consumers as it seems to take an age to find out if you have been successful with your proposal or not. This is the period which many people find the most stressful and nerve-wracking. Applying with us for your car finance needs doesn’t need to be like this and we can often get a decision within minutes. Our in-house expert pre-underwriting department is also on hand to cast an eye over any possible information our funders would require. This means a very fast turnaround time is available and so less time anxiously sitting by the telephone or checking your email every 5 minutes to see what decision has been reached.

Bad Credit Car Finance

With many options available it’s often a maze at first for many customers in which direction to consider for their car finance.

Hire purchase

In Hire purchase the consumer takes a vehicle – typically over either 3 or 4 years and makes a fixed monthly repayment until ownership of the vehicle passes to them at the end of the term. This option gives us the flexibility to select any car for the customer providing it is sold through a dealer and not a private sale and also means that the vehicle is paid in full after 35 or 47 monthly repayments have been made. This is also viewed as a typical car loan and is secured on the car making it usually easier to complete than a normal unsecured loan.

Personal contract Purchase

With a PCP deal, it is similar to the Hire purchase options but we can offset an amount of funds by adding what is termed as a balloon payment onto the end of the contract. This would give the customer the choice at the end of the deal to make a final payment to retain ownership of the car or to simply hand the vehicle back and then be free to arrange a new car instead. With the personal contract purchase the customer benefits from a reduced monthly repayment amount as they are not paying back as much money over the course of the contract.

Car Loan

A bad credit car loan is another way to consider the HP and PCP agreements but with a lower or zero initial payment amount being required. With car finance you will normally look to pay a deposit or what we term an initial payment. With the Car loan for bad credit agreement, you would have no initial payment and so your first month’s direct debit payment would be due one month after the funds had been received.

Any vehicle

Bad credit car finance doesn’t have to mean that you need to compromise on the vehicle you select with Car with bad credit you can simply choose the exact make and model and we will be able to fund it for you – it’s that simple. This could mean that you have your heart set on a car at your local dealership only to have the car finance applications declined – one after the other. Please don’t panic because we are still able to fund the car for you and will do everything – including liaising with the salesman every step of the way until the funds have been transferred into the dealership’s bank account. We are also asked by customers to provide credit facilities for new cars or for nearly new vehicles such as ex-demo models or pre-registered offers. This again is a simple case for us to deal with once your Bad credit car finance has been approved.

Price check on new and used cars

Our up-to-date valuation systems mean that we are always able to check the price of a vehicle you are interested in compared to suggested prices. This means that our finance consultants are in an excellent position to give you advice on the price a car may be up for sale at and also if it is overpriced for example. Data is constantly updated and so you can be assured that we can offer expert opinions on whether we need to source a cheaper vehicle for you based on typical market prices.

Credit problems

Car with bad credit finance is available for any UK resident who has been termed as ‘subprime’ by other lenders and advised there is nothing that can be done to help. A common sense approach is taken by our panel of lenders in that the market they operate in consists of customers who have been turned away by mainstream lenders. All types of bad credit come up such as debt management, CCJ, bankruptcy, IVA, mortgage arrears, and default on credit reports. In all cases, the answer is YES we can still help, please get in touch by either calling 01472 733007 or completing one of the application forms, or our contact us page.