One of the most used phrases over the last ten years has been ‘Bad credit’ and if you are looking into getting a new car then it’s likely to have crossed your mind. Getting declined for car finance due to Bad credit is an embarrassing experience and in recent years a large percent of the UK population have found that they have been pigeon holed into the Bad credit car finance bracket. Bad credit can be defined as any activity over the last 6 years in which you have had difficulty in repaying any of your financial accounts including if any repayments have been late. Other Bad credit items to be aware of include a Default notice which is usually added onto your credit file if you miss three repayments in a row and effectively ‘default’ on your account. This is the stage where the lender will normally pass your account onto a third party for collection – often with a debt collector. Another Bad credit item that can arise as a result of a Default is a County court judgement or CCJ. This is usually when the lender requests that the debt is subject to a court order for repayment and along with a Default will show to potential lenders for a 6 year period. If a customer has a number of Defaulted accounts it might be the case that they have entered into some form of debt management plan whereby a third party company distributes part payments to the applicant creditors. This is also something that we can accommodate with Bad credit car finance as our lenders won’t decline you for this reason as it shows you are facing your debts and not running away from them. One of the major reasons for Bad credit car finance being needed is due to Mortgage arrears – with redundancies and Divorce being the two main factors involved. This is also something that here at MSG we can deal with and usually only requires a letter from the lender to show there is a repayment plan in place.
When underwriting a car finance application the lender will look at your credit file and calculate a risk score based upon your repayment history. In order to lend you money they will have a desired score or level of bad credit or missed payments etc that is acceptable to them. This can change dependent upon how much business they have or need to write but in the last two years we have seen that this has increased and that you require a fairly high score to be sucessfull.Bad credit car finance available from MSG does away with the need to worry about your credit score as the finance companies we work with offer Car finance with no credit check. The basics of the system revolve around the customer being able to show that they can currently afford the repayments via copies of their bank statements and also that they can be ‘traced’ at their home addresses using the voters roll. Bad credit items are looked at but wont generally effect the outcome of the application as much more common sense is used.
Bad credit car finance is available on any UK car or van and they can even be up to 4 years old. Whatever your requirement is highly likely that we can arrange it for you so simply give us a call today or fill out a call back request.

Car finance with no credit check

Car finance with no credit check is a good way to summarise the way MSG operate with our car finance deals. With any high street or ‘Prime finance’ application that you would normally find with car leasing companies or car dealerships they will have to carry out a Credit search to look at your credit file. This is carried out so they can look at your repayment profile for all of the financial products that you may have had over the last 6 years. If there have been any occasions where a payment was late or missed completely it will show on your report and lenders will use this information to see if they want to have you as one of their customers.  As many of our customers have found out this is the point where most car finance lenders will decline your proposal if there is any form of Bad credit or adverse information showing. In current times with credit also being very difficult to obtain it may be that even those who have never had any difficulties sorting it out find that one or two late payments counts them out. Bad credit is a general term for accounts that have fallen behind such as getting mortgage arrears, a default on any loans or credit cards, a county court judgement or CCJ resulting from a defaulted account and obviously bankruptcy too. At MSG we operate Car finance with no credit check because the car finance companies we work with use a different system where they use methods that look at your current situation rather than your past profile to make their lending decisions. Instead of a credit search we need show two full months’ bank statements that show you can afford the monthly amounts and also some identification to prove who you are and where you live. MSG are specialists at offering Car finance with no credit searches so we know exactly what to ask you for to make your application as quick as possible.

To speak to one of our consultants today about Car finance with no credit check please call 08458385919 or Apply online on this site and someone will call you back.

Guaranteed finance cars

Many of our customers initially wonder how in the current financial climate that Guaranteed finance cars can be possible for those that might have in the past had problems with finance repayments and defaulted on agreements. At MSG we can offer Guaranteed finance cars to any UK resident and it’s that simple! To be able to choose from any car there are some other items that you will need to supply which includes – two months bank statements, drivers licence, passport and utility bill and this will enable us to actually purchase any car you want – with no limit on the amount. To give you an idea on some of the ‘Bad credit’ items that our customers regularly have showing on their credit files we have had approvals for customers that have current mortgage arrears, recent CCJ’s over £10k in value, debt management plans with many finance accounts in default, ongoing IVA payments and even customers with bankruptcy. Put simply the reason is because No credit search is carried out to decide if you can have the funds you need as our lenders operate on a much more flexible system where they look to see what your current circumstances are. If you are paid into your bank account then we can see your income and as long as when your outgoings are deducted there is enough left over to cover the monthly amount then you will be half way there. The other major part considered in applications is your traceability at your home address and this is normally done by comparing to the electoral roll to see if you are registered to vote. We generally would need to see you listed at previous addresses also if you have changed address recently as this helps to improve how strong you appear. If you are a homeowner you will normally show on the land registry also and this helps to prove you live there too.

Guaranteed finance cars cover the entire spectrum and includes; Audi,Alfa Romeo,AstonMartin,Bentley,Bmw,Chrysler,Citroen,Dodge,Ferrari,Fiat,Ford,Honda,Hyundai,Jaguar,Jeep,

Kia,Lamborghini,Landrover,Lexus,Lotus,Maserati,Mazda,Mercedes,Mini,Mitsubishi,Nissan,Peugeot,Porsche,Rolls Royce,Saab,Seat,Skoda,Smart,Subaru,Toyota,Vauxhall,

Volkswagen,Volvo so whatever you are looking for we will be able to provide it.