Every lender operates a number of checks when deciding whether or not to accept your application for finance – and each lender is likely to use a slightly different system.
Here are some of the reasons why you might have been refused car finance:
Despite the obstacles which might be thrown up by other lenders, here at CarFinance Plus we will do our best to secure the funds you need, even if you have been refused car finance before, have a poor or bad credit record, or lack the funds to put down as a deposit.
Although there is no such thing as guaranteed car finance, thanks to our close working contacts with specialist lenders, we almost always find a solution, including 0% deposit car finance deals.
In the same way that there is no way to guarantee car finance, it is also impossible to avoid the credit checks on your finances that any lender is going to conduct.
What we can do here at CarFinance Plus, however, is substantially increase the chances of your being accepted by one of our specialist lenders, so avoiding the formal refusal that is only going to make any future application for credit even more difficult.
We do that by conducting our own, preliminary “soft” credit check or “quotation search”, which is based on the financial information you provide to us and therefore allows us to advise you of the likely success of any application, before you take the plunge by making any formal application – it works something like a “pre-clearance” of your formal application.
In the meantime, there are still steps you might take to improve the chances of receiving approval for any application for car finance. These steps range from:
If you have been refused car finance, have a bad credit score or don’t have the deposit to put down, give us a call today on 0330 043 0033 and discover just how we may be able to help.