Bad Credit Car FinanceNeed Car Finance with Bad Credit
Bad Credit Car Finance
Do you have a bad or poor credit rating? And looking for Bad Credit Car Finance? RightDrive can offer people Car Finance even with a Bad credit profile as our Car Loans are secured against the vehicle and our Finance lenders will accept people who have had credit problems in the past.
Who we can help?
- Missed payments, defaults or arrears – Lots of people in the UK struggle with bad credit and we were able to Approve Thousands of them for Car Finance so don’t feel put off applying with us. A Bad or Poor credit file can be caused simply by missing some payments.
- Bankruptcy – If you have been declared bankrupt in the past but have been discharged then we’re happy to consider your application for car finance. Unfortunately if you’re currently bankrupt then we won’t be able to help you at this point in time, but once you’ve been discharged you are welcome to apply for car finance with us.
- CCJ’s – We specialise in helping people with this situation, (CCJs). We have all the UK’s Major Bad Credit Car Finance Company’s to help with your finance application Approved.
- IVA’s – If you have had an IVA agreement in the past then we are in a strong position to offer you Car Credit as your credit file should be on its way to a higher credit score (based on repaying previous bad debt or catching up with missing or last repayments). If you are currently in an IVA at the moment we will need written permission from your insolvency practitioner that you’re allowed to borrow money forwards Car Finance, However most will grant you permission based on a Car being deemed a necessity to getting to and from work ETC.. So if you wish to apply then it might be worth asking your IVA company first if they will say yes.
Helpful tips on Applying for Car Finance with bad credit!
- We would advise catching up any missed or last payments for any accounts that maybe in arrears.
- Provide a larger deposit when applying for Car Finance. This helps reduce the risk involved lending the money forwards a vehicle as you are not borrowing the whole amount the vehicle is worth. However this isn’t always necessary as single months repayment upfront is normally enough.
- Adding a joint hirer to your application. If you have a partner then adding them to the agreement to strengthen the application based on more credit history to go on potentially more income has a good effect on whether a lender will Approve the Car Finance Application. This can also help increase your credit limit and or some times lower the APR based on a lower risk deal.
How applying for a car loan affects your credit rating
We work with all the UK’s Bad Car Finance Lenders in order to offer many different types of people the credit they have applied for. This is because every lender has different credit lending policy’s, rates and finance terms, putting us in the best position to help you get Approved with a Bad Credit history.
We’re committed to ensuring you only borrow what you can reasonably afford to repay back as a monthly installment and so we will complete and income and expenditure report to confirm you can afford the monthly repayments once all your other bill are taken care of, then you will be able to drive your new car home the same day.
As we have shown there are many reasons people are classed as having “bad credit” and your credit file doesn’t always explain why this has happened, we spend the time with every customer to find out there situation so that we find the best Finance Approval & rates for every customer