Here at GoFinance.co.uk we are fully aware that not everyone has a perfect credit score and many people we speak to have had some sort of financial difficulties in the past.
If you fall into this category then do not let this put you off applying with Gofinance.co.uk. We have a panel of lenders who will look at customers who have had some historic or even recent problems, whether this is missed payments, defaults or CCJ’s. This doesn’t mean there isn’t someone out there to help you.
Something that will not come as to much of a surprise to you is that a lender who is willing to accept a customer who hasn’t had the best of credit histories will more than likely lend the money at a higher rate. This can sometimes put customers off, but as long as the monthly repayment fits into your monthly budget and you allow for a potential change of circumstances in the future, then car finance is certainly still a viable option.
How can you help with my bad credit score?
GoFinance.co.uk will complete an income and expenditure section with you so we can ascertain what sort of budget you have to finance your next car.
When a lender makes a decision on a customer for a car finance application they consider various factors which include credit score, address history and income/affordability. On paper you may have lived at the same address for many years and be in a secure job with decent annual earnings – All looks good – but you may have missed some payments on a credit card within the last few months, or paid late on loan. It doesn’t sound a lot but even this could lead to some lenders who offer better interest rates not approving you.
We have been in this industry a long time and we feel customers with bad credit are in a better position now than ever before as there are more lenders in the market to help than there has ever been. Gofinance.co.uk believe everyone should be given a chance, of course we cannot help everyone we speak to, but we have relationships in place with finance lenders who give us a good chance of being able to help when it comes to bad credit car finance.
If you have previously been bankrupt, been in an IVA or missed on a hire purchase before, then do not feel you are alone and that nobody can help. Give Gofinance.co.uk a chance to look at your circumstances and try to match you to a company who will say ‘Yes’.
When a Gofinance.co.uk personal advisor speaks to you for the first time we ask that you be as honest as possible. Let us know all about any problems you may have had in the past or are still having – this then gives us a better chance of finding a lender for you. It is important to us that your budget allows for the monthly repayment on offer, and that you can afford to pay back the loan.
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