Poor credit rating? You can still find the right car finance!

If you’ve got bad credit, getting a car isn’t easy. But is that fair? Having a poor credit rating, being made bankrupt, or falling behind on mortgage payments could happen to any of us; and going through a rough patch financially is hardly the crime of the century is it? Moreover, you can be refused a car loan simply based on the fact that you’re self-employed. Imagine that.

Checking the rear view mirror

We’re determined to help

It seems to me that in the UK if you’re a drug dealer you get to drive a top of the range black Range Rover with tinted windows around the streets,” says Hannah in St Albans, “but if you work part-time shelf-stacking to make ends meet, you can’t even buy a second-hand Ford Fiesta.

Albion Car Finance is determined to provide a vehicle-finance solution for people across the UK who need a car, and FAST, but are struggling to get loan application approval due to:

  • Poor credit
  • CCJ’s
  • Being on Benefits
  • Bankruptcy
  • Mortgage or loan arrears
  • Being self-employed or in part-time work

Steve’s story

Steve in Brent Park, says: “When it comes to lending for car purchases, it can be incredibly difficult in this country to get the finance you need, even if it means having wheels would increase your job prospects and therefore your ability to repay any car loans quickly. I would even go as far as describing what the vast majority of car loan companies do as Discrimination.

Blimey. Strong words. But is Steve right? Well, there are two sides to every story, of course. If a loan applicant’s exceptionally poor employment history sets alarm bells ringing at a car finance company, then – human nature being what it is – they perhaps can’t be blamed for feeling apprehensive about approving a loan. But what if someone is claiming a Benefit such as Jobseeker’s Allowance, having been let go from a company that has gone into liquidation or ceased trading for some other reason? That’s exactly what happened to former water treatment works pump engineer Darren in Aylesbury last year:

I’d been in full-time work since leaving school, actually. And I’d have happily remained committed to my company I was at if they hadn’t suddenly gone bump, putting a load of us out of work. When I was eventually able to claim Benefits, I saw having a car as a way to improve my job prospects, and it would also mean that I could cast my net wider, opening up job opportunities for me outside of my local area. But getting vehicle finance proved impossible, despite my impeccable employment record. As soon as the car loan companies saw on application forms I’d completed that I was claiming Jobseeker’s Allowance, it was a foregone conclusion that I wouldn’t be getting approval for a loan.

Take your life forward, with us

Not being on the Electoral Register can also prevent you from getting vehicle financing through traditional lenders, unless you turn to Albion Car Finance, that is.

Whatever the reason given for finance denials, as far as we’re concerned, the past is the past. And someone’s credit history may not necessarily reflect where they are and where they want to go in the future.

Make your application for car finance with us now and get back on the road again!