Month: June 2020

Manchester, 18th June 2020 – CarFinanceDeals.com – the UK’s Most Loved Car Finance Broker has partnered with leading privately owned lender Marsh finance. The rapidly expanding Car Finance brokerage is focusing on building solutions for all its clients; with the addition of Marsh on the lending panel now even a greater percentage of customers can access the best possible Car Finance Deals.

Stephen Staley, Director of Car Finance Deals, commented: “We have been communicating with Marsh for some time and we both feel now is the right time to work together. Having Marsh on the panel will open more opportunities in offering the best deal possible to the client and this is essential to our business strategy. The customer must be able to access the best products and Marsh has an excellent offering.”

Marsh Finance will join other lenders on the panel for Car Finance Deals that include but are not limited to; Paragon Bank PLC, Moneybarn, Premium Plan and Auto Money Motor Finance.

About Car Finance Deals
Founded in 2018, based in the UK; Car Finance Deals was born with two immediate objectives; to make the vehicle buying process as easy as possible and to take the greatest of care in making its clients its number one priority.  Car Finance Deals is setting new standards when it comes to accessing finance to buy a used vehicle and prides itself on taking a modern approach to a motor industry that is need for an upgrade.

About Marsh Finance
Marsh Finance Ltd, Marsh Finance & Commercial Ltd and Marsh FM LLP (“Marsh”) are UK motor finance specialists providing bespoke lending, outsourcing and IT solutions. Marsh was established in 1973 and has grown to become the leading lender within its chosen sector of the UK financial services market. Marsh is an independent, privately owned and well-capitalised finance company.

You have decided you would like a new car, yet you know that your credit is not the best. You could have been unlucky; you could have just missed a few payments in error; whatever the reason; you are playing at a disadvantage when it comes to finance. But do not worry; all is not lost. You can still get car finance with bad credit.

Can I Apply for Car finance with Bad Credit? The answer is YES. Despite having bad credit, you can apply for Car Finance Online. You would apply by entering your details using the Car Finance application form. It is simple, easy to do and you will usually get you a decision on your application within hours of applying.

The only difference between applying for finance with good credit compared to bad credit is likely going to be the rate you are offered from the lender. Those with bad credit will get a lesser rate, which ultimately means over the duration of the loan they would pay more monies back. The decision is based on the lenders due diligence that is usually rate for risk. The lender needs to be sure you will pay back the monies and if you have bad credit on paper, they will believe you are less likely. This is something not to take personally, but to take professionally.

You may have bad credit now however there is nothing stopping you from having good credit in the future. You are in control of your score; and if you make your payments; whatever they are, on time and in full, your credit score will improve. For example; you could get a car on finance with bad credit; pay the loan off over a period of time and then presuming you have made all your payments on time by the time you come out of the loan its likely you will have good credit. Which means; when you apply for finance on the next car you purchase you will be offered a much better rate. The future of your credit score is yours to determine.

Really, bad credit car finance is just a loan for consumers who have a poor credit history. When it comes to finance; the most popular choice for clients that have bad credit is Hire Purchase (HP.) Hire Purchase is a straightforward popular finance option where you pay a certain amount each month over a duration of usually 5 years (60 months.) For more information on HP; check out our information packed blog post: Buying a Car Through Hire Purchase: HP Explained by clicking to: https://carfinancedeals.com/blog/78/buying-a-car-through-hire-purchase-hp-explained

If you have a poor credit rating it can be difficult to get an approval for car finance. You do have options though as here at Car Finance Deals although we deal with the prime end of the finance market, we are also a specialist in the subprime car finance market. This is especially for customers who have bad credit. So if you are to be approved with bad credit anywhere online, you have a great chance of being approved with us. Even if you are unsuccessful applying on your own; there is always a chance to get finance via a joint application. This is another option we can offer. We really will try to do everything we can to get you finance even if you have a poor credit history.

At this point you are probably wondering about any other ways to improve your credit score. Well wonder no more! We have also done an extensive article on this; How to Improve your Credit Score: Bust Myths and Improve your Rating: https://carfinancedeals.com/blog/104/how-to-improve-your-credit-score-bust-myths–improve-your-rating

The page is packed with helpful tips on improving your score. If you follow the advice; your score will not improve overnight however it will be updated at a minimum every month. Pay close attention to this article if you want to make sure when you apply you will get approved or even better – you get approved with a very good rate from lenders.

By now you understand you can apply for finance with bad credit. You also know how to improve your credit score and its highly likely you will end up getting a car loan on HP if you are approved. Long term, you can improve your credit score yourself. However right now, you just might want a car no matter what. If this is the case, it is time for you to apply for car finance online.

So, how do we apply for finance with bad credit? Simply head over to our website application page here: https://carfinancedeals.com/apply

You will be presented with a screen that will look similar to this image below;

Choose how much you want to borrow and what type of vehicle you would like. Then answer all the questions following this screen. Hopefully within a few hours you will have an answer, where you will either be approved or declined. If approved, which we of course hope; then you will be offered a financial package from the lender. At this point, one of our dedicated account managers will help you through your journey.

If you are declined; do not be down. You know where you stand with lenders and it is up to you to improve your credit score so that next time you apply you will get approved. You can do this. You just need to be disciplined. Make sure you pay everything on time. Yes, this will not help you right now; however, you need to build today for a brighter tomorrow. For now, find an alternative solution to your transport issue. As I have mentioned earlier in this post; your credit score is updated monthly so you can always apply next month. Every month you make your payments on time; your score will increase. Keep this up and its only a matter of time before you are approved. Good luck!

You have made the decision to buy a new car. You have also decided that you would rather finance the vehicle rather than spending your hard-earned money on buying the vehicle out right. Or maybe you do not have the funds to do so. Either way, you are left wondering Can I apply for Car Finance Online?

The answer in brief, is simply YES. Yes, you can apply for Car Finance Online. You can do this quickly and easily by filling in your details using our Car Finance application form. It will take you a matter of minutes and we aim to get you an answer on your application the very same day.

To break things down and make things as easy as possible for you. I have noted below a simple 4 stage process that you can follow to apply for Car Finance online.

1. Apply for Car Finance.
2. Receive a decision from the lender.
3. If Approved, you can now Choose your Car.
4. Enjoy your new Car.

Let us look at each stage a little more in depth;

Apply for Car Finance
Easy. Just head to the Car Finance Deals application page. To reach this page click to: https://carfinancedeals.com/apply

The application process has been made so that it’s easy for you to navigate. It is also optimised for mobile devices. Once you have navigated through the application form you will reach a screen that advises you that we will be in touch with you with a decision.

Receive a decision from the Finance lender
Your application will be sent to various finance lenders. If one of them approves your application, then we will contact you and advise you of this decision. This of course is excellent news and the first major step and likely the largest hurdle that you will need to overcome to obtain finance. The lender will offer you a finance package that usually will be between 36-60 months in length; will be of a certain maximum lend value and they will offer you a flat rate and/or APR rate that they will use to determine how much you will be paying back per month depending on how much you would like to borrow.

If Approved, you can now Choose your Car.
So at this stage you will know the finance package you are being offered. This is the most exciting part, where you can go out and choose your car. Or you can use the helpful staff here at Car Finance Deals to find a car for you. If you would like us to search for a car for you, we will ask a certain amount of questions that will help us to determine what you would like. These questions will include (but not be limited to)

What make/model of vehicle were you looking for?
Have you any colour preferences?
Do you want an automatic or manual? (or do not mind)
Do you want a petrol or diesel? (or do not mind)
What budget would you feel comfortable spending? (per month) – in general the more you spend the newer vehicle with less mileage.
…. and anything else you feel will be relevant to you.

Answering these questions will help us to find you a suitable car. On the other hand, if you want to search for a car yourself this is fine. We can give you advice on how to do this. We work with 99% of all garages in the UK so in general we can finance a car from any dealer if they are reputable and licensed by the FCA.

Enjoy your new Car.
Of course the best part. You get to drive away in your new car. Because you have navigated through the application and you have been successful you now get to the most magical part. You have applied for Car Finance only. You have been approved. You have found your ideal vehicle. Now time to drive it. Show your friends and your family. Most importantly be pleased with yourself; drive safe, take care, and make sure you make the monthly payments on time!

What if I have been Declined?
There will be moments in most people’s lives where they will be declined for finance, for whatever reason. This is disappointing sure; but the good news is that you can turn a decline into an approval over time. You can do something about your credit score. When the lenders receive your application, they will consider it based on your credit report and/or credit score. They will check to see if you have any missed or late payments. These will damage your score. So, it’s very important, even if you are declined for Car Finance, to know that only you have the ability to improve your score. You must try to not live beyond your means and always, always make your payments on time. In the long run, with an improved credit score you will also gain the benefit of being approved by multiple lenders and thus being offered even better finance packages with less monies to pay back.

How do I improve my Credit Score?
I am glad you asked! We have written a complete article on how to do this. Its packed full of excellent information that will help you turn your decline into a future approval. To view it please click here.

So to wrap up; Yes, you can apply for Car Finance online. Yes, you can buy a new car online and Yes you can do everything from the comfort of your own home. Some dealers even deliver the car for you! Afterall, everyone loves to get a great Car Finance Deal. That is why here; at Car Finance Deals we do everything we can to make your experience; from application through to driving away your new car – as easy as possible. When you apply for Car Finance with us, you get a dedicated manager who will help you at every stage of the process and answer any questions you may have. We pride ourselves on giving a customer centric experience so do not delay; apply for Car Finance online with us today.