Car credit problems

Are you trying to get finance so you can buy a car but are finding that you have car credit problems, you may be surprised to hear this is more common than you think?

Car credit problems can arise when you have bad credit, when wanting to finance a car the finance company will need to check your credit score to see how good you are at paying back payments. Unfortunately, this is normally carried out on an automated system so if you have a bad credit score you will be refused finance.

Car Finance Options

There are options available if you do find you are up against car credit problems, some companies will do short term rentals, so you can almost hire a car for a few months, prove you can pay for that and then maybe after you have proved you will keep up repayments the company may be able to look at lending you money for longer and a better car.

Another reason you may find yourself up against car credit problems is because of your age, if you are a young person, because of your young age you may not have much experience in having things on finance so this would show up that you have a bad credit score because of the lack of previous payments., it is of course not your fault but unfortunately not much you can do on this subject, one way of getting around it is to have a guarantor, this is someone who will promise to take over the payments should you not be able to meet them.

Another reason you may find yourself up against car credit problems is because of your age, if you are a young person, because of your young age you may not have much experience in having things on finance so this would show up that you have a bad credit score because of the lack of previous payments., it is of course not your fault but unfortunately not much you can do on this subject, one way of getting around it is to have a guarantor, this is someone who will promise to take over the payments should you not be able to meet them.

Improving your car finance chances

There is not a way that anyone can guarantee that you will be accepted for finance but there are things you can do to try and improve your chances. A good car finance company will be able to point you in the right direction with this and offer any advice they can to help you with your car credit problems.