Are you trying to buy a car but keep coming up against car credit problems? It is a common problem that many people find themselves having.
If you have poor credit history or a bad credit rating, it can be difficult to get a car on finance, lenders will see you as a bad payer and will think that lending you the money to buy a car is a bad idea, however, there are many lenders out there that even with car credit problems will loan you the money, all be It at a much higher rate than what you would pay if you had a good credit rating.
There are ways you can improve your chances of getting car finance even if you have car credit problems. We have listed a few of these below :
Look at what problems you have and address them, start by paying debts off, even if it is only a little bit each month, at least then this will show lenders that you are trying to clear your debts and you can make regular payments.
Always make sure any of your current monthly bills are paid on time and do not slip into arrears.
Increase your deposit if you can afford too, this will help to bring your monthly payments down.
Avoid any links with people who have bad credit and do not borrow more off dodgy loan companies who will charge you the earth for a very small amount.
If you have someone that you trust and they trust you, ask them to be a guarantor, this will help when buying a car on finance, as with a guarantor they are ensuring that even if you do not pay the loan back, they will!
When buying a car on finance with car credit problems, you can give the dealership the go-ahead to check your credit score, this is the only way that they will be able to give you an honest opinion on what your finance options may be. They will want you to buy a car from them so should do their best to help you.