#car loans with bad credit
Bad Credit Car Finance
At Stoneacre, we’re here to help as many people get car finance as possible; even for those who are looking for car finance with bad credit, we’ll always do what we can to get them into their own car. It is important to remember that if you have a history of bad credit, you can still be eligible for car finance and Stoneacre will help you every step of the way.
There might be several reasons why you are suffering from poor credit, but we don’t just look at your credit situation. We also we take into account other factors to ensure that even car finance with poor credit can be affordable. We work with a panel of lenders who, like us, want to help you get finance and help people with various financial circumstances every day, while we ourselves are specialists in car finance with bad credit.
Are you eligible for bad credit car finance with Stoneacre?
As previously mentioned, there can be numerous causes of bad credit, and at Stoneacre we will never shun people away because of factors that might be affecting your credit. Below are examples of why you may be classed as having poor credit and how we can help you attain car finance with bad credit.
Missed payments, defaults or arrears. In many cases of customers coming to us for bad credit car finance, missed payments tends to be the issue and is one of the most common reasons for bad credit in the first place. If this is your situation, don’t feel put off in applying for car finance for bad credit with us as we’d be more than happy to consider your application.
CCJs. Another common circumstance for us when it comes to bad credit car finance customers is those with a County Court Judgment (CCJ). Again, don’t let this worry you into not applying with us. We’re more than able to consider applications for those with CCJs, although we do require that that they are over four-weeks old.
Bankruptcy. This can often be a tricky area when it comes to acquiring a car on finance with bad credit, but as long as you have been discharged of bankruptcy for at least 12 months, we’ll be more than happy to take on your application. Those wanting to apply whilst under bankruptcy will have a lot less likely chance of obtaining car finance, but if you do so, please ensure you inform us and the lender of your bankruptcy proceedings, as it could constitute as an offence you fail to do so.
IVAs. The good news in this area of bad credit is that if you’ve had an Individual Voluntary Arrangement (IVA) in the past but it is now settled, we would be glad to receive your finance application. However, if you currently have an IVA, it is advised that you first get written confirmation from your insolvency practitioner that you’re able to borrow again; at least talking with your practitioner beforehand in this situation is likely to be a good first step before applying.
The other bits. At Stoneacre, we require all finance applicants to be 18 years or older, but with bad credit car finance we may require applicants to be at least 21, so please contact us to check if this applies to you. Also, we can give finance to those unemployed, but those in work will always have much better chance of being successful as lenders may look for a minimum income threshold for those with bad credit.
Applying for bad credit car finance with Stoneacre
When you make a finance application with Stoneacre, we will initially do what is called a ‘soft search’ on your credit profile; this is something that is not visible to other lenders and will not appear on your credit history. If we believe we can help you further in attaining car finance with bad credit, we will go ahead with the rest of the application; if it’s obvious the application won’t be accepted, it’s stopped at this stage, your details do not go any further and your credit profile will not be affected.
If you’re application is continued, you will be put in touch with your own personal finance coordinator who will guide you every step of the way, from putting you with the right lender that suits your needs to choosing the perfect car. There is no obligation at any stage of the application to accept the bad credit car finance package we offer, but our F I award-winning finance team will always do their utmost to give you the best deal available. Apply today and see how we can help you get car finance with bad credit.
Do you offer black box car finance?
Yes, we do offer black box car finance. In fact, we’re one of the first lender/brokers to offer it in the UK. With this in mind we conducted a comprehensive survey in order to understand how customers feel about the idea of having the box fitted to their car. See the results here .