Bad Credit Car Finance

Bad Credit Car Finance

Bad Credit Car Finance - General Info and Tips about Auto Loans:
- Many lenders specialize in loans to individuals with bad credit, so you might be able to get a loan even if you have declared bankruptcy or have county court judgements against you in the past.
- If you are looking for a low cost loan, comparing the APR is a good place to start. Lenders do quote interest rates in different ways, and it's worth familiarising yourself with these before you start.
- An unsecured loan is aimed at people who do not have any collateral to take out a secured loan. Therefore an unsecured loan is perfect if you do not own your home. With an unsecured loan you can borrow between �1,000 and �25,000.
- Sometimes people with good credit are charged higher rates and fees for loans because they don't know that their credit is good. Getting your credit report and credit score may help you negotiate the best loan deal.

Bad Credit Car Finance - Glossary of Terms:

County Court Judgements (CCJ) - An adverse ruling by a County Court against a person who has not satisfied their debt payments with their creditors.

A Debt Consolidation loan is a loan used to pay off some or all of your existing credit, making your finances easier to manage.

Negative equity - If your car is worth less than the amount you have left to pay off the loan.

If a borrower has a history of poor credit usage then this is described as Adverse Credit. Poor Credit history can include County Court Judgements(CCJ), Bankruptcy, Mortgage arrears or any late payments on credit arrangements.

Payment Protection is an insurance policy to cover your loan repayments should you be unable to pay them yourself due to sickness, injury or involuntary unemployment.

Equity - This is the difference between the value of your car and what you have left to pay off the loan.

Bad Credit Car Finance tips.


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