|
The Problem with Adverse Credit |
|
|
|
Unfortunately, adverse credit is difficult to shake off, and will affect your credit file for a period of 6 years. Very often people don’t realise that something they may consider as trivial, has far reaching implications on their ability to fund a car through a car lease (from something as simple as missed regular payments on a credit card, right through to Defaults, CCJ’s, IVA’s and Bankruptcy). The best deals in the market are usually funded by the Finance companies with the strictest criteria. If you don’t measure up to their requirements, you will be declined – it is as simple as that, and this will affect one in 3 proposals for car finance - so you will be in good company.
Here at Ultracar, we have a number of options designed to help people get back into a car. I would welcome the opportunity to discuss your options with you, to see which is the best route for you, but the end result is that we do have a guaranteed acceptance route, and there are many drivers with adverse credit who have benefited from it.
Unfortunately, what poor credit does is limit your choices – you are usually forced into a compromise - either on the vehicle, your budget or both. We have a wide range of cars available through a number of different funders, depending on your personal circumstances. Once we have talked these through, I will be able to tell you what you will be able to get, and how much it is going to cost. If you are happy with this, provided you do your bit, and respond promptly and honestly, we will do our bit and get you into a car. The one thing we want to do is help you start to restore your credit history, and get back on track for prime rate funding.
Typically,  Non-Status funders require a prove-able 3 year address history – (it really helps if you are on the electoral roll, and also have recent utility bills), they will require proof of your ID – a copy of your driving licence (both parts if the new type), or a copy of your passport, and finally proof of affordability – Pay-slips and Bank Statements, and then we can get you into a car. You may need to pay a larger initial payment - for example a prime deal may be based on 3 payments upfront, whereas on a non-status deal this may be 6 up front, but this varies depending on the company, and the perceived risk.
The bottom line is - yes we can help - so if you want to discuss your options, call me -Ted Crofts on 0845 643 1360 Ext 203, or alternatively send me an e-mail
This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
with your phone number and a time I can call you, and I will give you a call. I am normally in the office from 09.00 -6.00pm Monday to Friday.
|
