Guaranteed Car Finance
Sadly, no Car Finance Dealer, Credit Broker or Finance Company can Guarantee Car Finance. You may see advertisements on the market, online or in the press for "Guaranteed Car Finance for Bad Credit with No Deposit" or "No Credit Check Car Finance" but when it comes to funding a car, with such a diverse range of personal circumstances both past and present for each individual customer, as well as each lender having their own lending criteria when taking into consideration an application it just becomes unethical.
The Financial Conduct Authority's rules on responsible lending ensure that the car finance company must assess the customer's creditworthiness (including affordability). This must consider the customer's financial wellbeing and ability to re-pay the debt.
Through the 2010 Consumer Credit (advertisements) Regulation, it became illegal for and finance company, dealer or broker to advertise Guaranteed Car Finance unless they are willing in every occasion to provide a loan to every applicant who applies, which would be completely unviable.
So we may not be able to offer a Guaranteed Car Loan for you, however, we are the UK's Leading Independent Car Finance Dealer for Bad Credit. We have relationships with over 20 Bad Credit Car Finance Companies who are able to consider a wide range of credit circumstances.
We have a high acceptance rate for Bad Credit Car Finance however if you're worried about getting declined then please read through some of the information below. Remember we specialise in car loans for bad credit, we have helped many people when they thought they had no hope.
Who Trade Price Cars Can Help
Let's face it, the last few years have been tough. A recovering economy from a worldwide credit crisis has seen more people fall into the Sub-prime finance category. Below is an overview of situations we can help with.
- Missed Payments, Defaults and or arrears - As we have mentioned above, tough times have seen our customers struggle with repayments and debt in the past. A poor or bad credit rating is usually caused by falling behind on credit agreements. We have a number of lenders who specialise in this situation and welcome customer's who have had trouble in the past, to help tailor them a finance package which offers them a funding solution as well as improving their credit score after reaching a successful repayment history.
- Bankruptcy - If you have been discharged from bankruptcy for a minimum of 3 months we have lenders waiting to consider your application. They want to help you back onto the finance ladder.
- CCj's - County Court Judgement's (CCJ's) are becoming ever more common. We have customer's who haven't even been aware they have been summonsed to court as they have moved property. Sometimes for the smallest amount's of money, but these can be damaging to your credit file. Let us help place your application with one of our specialist lenders.
- IVA's If you've been in an Individual Voluntary Agreement (IVA) in the past that is currently settled we have lenders waiting to look at your car finance application. If our customer is currently in an IVA agreement we also may be able to consider providing you have written confirmation from your insolvency practitioner & that you are allowed to borrow money again. Always consider speaking to your IVA company before applying with us.
Bad Credit Finance Representative APR from 19.1% - Apply Now or Call 01268 766722