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Guaranteed car finance
There are many companies out there – especially on the internet that claim to offer guaranteed car finance in their adverts but how true is this. Here at MSG we can assure you that this is no bold claim and in 2009 so far we have managed to get acceptance for motor finance for customers that have had the following situations; One customer was presently part way through an Iva arrangement and had arrears on the mortgage at the time, which would obviously mean an instant decline with the great majority of car finance companies. Using one of our specialist funders we were able to get this customer approved and into exactly the same car they enquired on! No catches and no switching them into a 4 year old Fiat Panda.
Simply – we offer the service we state and can guarantee car finance for any UK resident and a good majority of non British citizens too. The reason we can do this is because the lenders we operate with are specialist to this type of ’sub-prime’ market and so have a whole different criteria when it comes to lending to motorists. With your standard company they would ask for your personal details, address and job history and feed it all into a computer. This would then cross reference against you credit file going back for the last six years time where they can see even if you were one day late on a credit card payment for example. The computer would then decide if you fitted their requirements – in that you were f little risk to them lending you money. In a large majority of cases the underwriting isn’t even done by a human as it is automated! How unfair is that – as the computer can’t understand the reasons behind any of the data and makes a mathematical decision based on programming. The Guaranteed car finance that we operate with doesn’t go off the problems you might have made in the past but base their human underwriting decisions on what your current situation is. This will mean that as long as they think you can make the repayments and prove who you are then they are willing to take the risk.
Guaranteed car finance is able to operate as we will charge a slightly higher premium than high street rates and the initial payment required before delivery will be set at four times the monthly amount. The overcome this though we can source your car from any UK dealership so to get you the best monthly price we can always look at a nearly new or pre-owned vehicle to bring the total on the road amount down. No credit check is carried out as the finance companies that we operate with have a completely different underwriting system that means we can get approval for customers with bad credit, CCJ’s , mortgage arrears, defaults, missed or late payments, debt management plans, IVA and even current bankruptcy.
