How do i get a car loan if i have bad credit rating?
Welcome to our website and if you are here to find the answer to the above question they congratulations as you have come to the right place! We are specialists in the Non Status car finance and leasing market and so this means that if you are looking to get a new or used car but are having difficulties getting approved due to issues on your credit file we can help. A bad credit car loan is an option that we can help provide and the only difference with a high street bank loan is that you will need to pay the first 4 months repayments in advance before you can have your new vehicle. At the present time even those with a perfect credit rating are still finding that if they don’t exactly match the profile the lender is looking for they are getting turned away with the so called Prime lenders and finance companies. The lenders we work alongside only operate in the Non Status sector so all of our customers have been stereotyped as Bad credit or High risk.
Can i choose any car like i would with a bank car loan?
The answer to this question is yes! With MSG Cars we can get your approved for the loan and then you can ask one of our expert sales consultants for some assistance in locating the car of your choice.Another popular option customer choose if we can advise you what price you need to stick around to keep the monthly repayments within your budget and you can select your own from a local or national dealership.
How does a bad credit car loan work then?
The first stage is to complete an online application form on our website and we will then call you back either with an instant decision or if any further information is required – thats how easy it is! Once you are approved we will need to confirm the details you have given us and this requires a minimum of Passport,Drivers licence and two months proof of income. You then choose your car and we will issue the monthly price including initial down payment needed and if you are happy we will email your finance agreement to sign and post back.
Does this mean you can offer a guaranteed car loan service?
Whilst we have approved deals in the past for customers with considerable amounts of bad debt, bankruptcy, IVA arrangements, mortgage arrears, repossessed cars and other major issues we cant sy that it is guaranteed. Obviously each case stands on its own rights and the advantage we have is that a real human can be involved in the decision making process -not a computer. We would always suggest to potential customers who are still struggling with finance agreements when they contact us to resolve any outstanding any ongoing disputes before putting in an application for a new car loan. This would mean for example that anyone with an existing car finance agreement that was in arrears would need to finalise that before looking to get another as this type of problem will show up and leads the lender to think it would just occur on the new car. For anyone with other debts such as loans and credit cards it isn’t as much of an issue and many of our customers are in Debt management plans for example.
