Refused Car Finance because of bad credit

Refused car finance because of poor credit

If you have a low, poor, bad credit, no credit score whatsoever or been refused for a car loan from other finance companies, don’t worry i could still help. Many of our finance lenders specialise providing finance solutions for people with bad credit needing a car loan

Car finance is never guaranteed, as the criteria for a car loan depends on your personal circumstances – factors like your age, employment, monthly income amount of money you are looking to borrow, your credit history and your current credit score.

If you have defaults, CCJ’s, previously been bankrupt, have an IVA we may still be able to help you obtain an affordable car finance solution. 

We have loan options available for a wide range of personal circumstances, including for those that have CCJs on their file, are in an IVA or have previously been bankrupt (now discharged). See: Iva, defaults & CCJ’s

Having a regular, basic income is something our lenders will look to see from any finance applicant. This can come from a range of employment types, for example we can help if you are self-employed, a part-time worker or an agency worker.

We can offer no deposit car finance, but if you do have a deposit or a part-exchange available, you can use this to reduce the total amount borrowed (subsequently reducing your monthly repayments).

Even if you have been declined for a car loan elsewhere (such as from a bank, a car dealership or even another car finance broker), the good news is that we do work with lenders that specialise in bad credit car finance, so still may be able to help.

Remember, though, that the repayments are still your responsibility and if you default on them your credit rating will be adversely affected and future borrowing become still more difficult.

At Socialmotors, it isn’t just a car that you can finance! We can offer finance on vans, motorbikes and motorhomes too.