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Bad credit car finance

Bad Credit Car Finance
Unlike most franchised dealers we specialise in securing car finance for people with a bad credit profile.

If you have had CCJ’s, mortgage arrears and other payment difficulties we can help. If you are self-employed or have no credit history whatsoever we may still be able to help to secure a finance package on a new Vauxhall or any of our used cars. We can even secure car finance if you have been in a debt management plan or IVA or if you have been declared bankrupt in the past.

Most lenders categorise credit ratings into the following five different groups:

Excellent Credit Rating
Resident at address for long period with electoral roll record. Home owner or long term tenant. With same employer or self-employed for long period. Long credit history with mortgage, loans and credit cards. Infrequent credit applications. Credit with no missed payments, defaults or County Court Judgements.

Good Credit Rating
Resident at address for long period with electoral roll record. Home owner or long term tenant. With same employer or self-employed for long period. Long credit history with mortgage, loans and credit cards. Infrequent credit applications. Credit with few missed payments, defaults or County Court Judgements.

Average Credit Rating
Frequent changes of address with patchy electoral roll record. Recent changes in employment or self - employment. More frequent credit applications. High level of debt to estimated income. Occasional late payments/credit cards over limits. Old defaults or County Court Judgements, especially of small value.

Poor Credit Rating
Frequent changes of address with patchy electoral roll record. Recent changes in employment or self – employment. Recent (and frequent) credit applications. High level of debt to estimated income. Recent late payments/credit cards over limits. Old defaults or County Court Judgements.

Bad Credit Rating
Unstable address history, unconfirmed by electoral Roll. Patchy employment or self-employment history with recent unemployment. Late mortgage/loan payments and/or over credit card limits. Recent or current late payment, payment defaults or repossession registered. Recent County Court Judgments (CCJ’s), Bankruptcy or similar. No bank account history.

Whichever group you fall into we have lenders that specialise in car finance for our customers with less than perfect credit ratings.

Interest Charges
If your credit rating is less than good, you will pay more interest, that’s a fact!

At Walkers we try our best to secure you the most competitive finance agreement we can, no matter what your credit history is at present.

Don’t forget, bad credit doesn’t last forever and our aim is to help you secure funding for your next vehicle purchase. As long as you keep up the repayments you will be improve your credit rating when you next look to change your car.

If you have a poor credit rating and are worried about getting car finance give us a call and let us help you finance your next car.

Don’t damage an already poor credit history
Applying for finance numerous times in the hope that eventually someone will accept you is a mistake as you will damage your credit rating due to multiple searches been registered on your credit file.

If you apply with us directly we will not carry out a full credit search at first. Instead we will carry out a soft credit search, which does not register on your credit file.

If the soft search comes back indicating that we have very little chance of securing you credit, we will not propose you to one of our lenders as that will only damage your credit rating further.

However, if the soft search comes back indicating that you may be able to obtain a loan we will propose you to the most appropriate lender that matches your current credit profile.

Most franchised dealers will simply reject your application or worse still, propose you to multiple lenders, resulting in a multiple declines and an even worse credit rating.

At Walkers we have a specialist finance department that will ensure that you get the best chance possible of securing the loan you need to buy your next car.