Bad Credit Car Finance
Your Pathway to Car Finance, Even With Bad Credit
Can Bad Credit Stop You From Getting Car Finance? Think Again!
Good news for those with less-than-perfect credit—you’re not out of the running for car finance. At Oasis Motor Finance, we know that your credit score is just a number. Life happens; maybe you’ve had a County Court Judgement (CCJ), Individual Voluntary Arrangement (IVA), or have missed a few payments. Don’t worry, we’ve got your back.
What Exactly is ‘Bad Credit’?
Let’s demystify what bad credit really means. Different credit reference agencies in the UK have different scoring systems:
- Experian: 0-720
- Equifax: 0-438
- TransUnion: 0-566
If your score falls within these ranges, don’t fret. Your credit score isn’t set in stone.
First-Time Borrower? No Credit History? No Problem!
If you’re venturing into the world of credit for the first time, it might seem like a catch-22—you need credit history to get credit. But we take a broader view, looking beyond just your credit score. A word of caution, though: Be wary of anyone offering car finance without a credit check.
How Can You Improve a Bad Credit Score?
Improving your credit score isn’t an overnight job, but it is possible. Here are some quick wins:
- Pay On Time: Consistently paying bills on time can boost your score.
- Check for Errors: Mistakes on your credit report can drag down your score.
- Credit Utilisation: Try not to max out your available credit.
- Limit Applications: Making several credit applications in a short span can red-flag you.
- Register on the Electoral Roll: This can provide a quick boost to your credit score.
What Documents Do You Need?
Ready to apply? Here’s what you’ll likely need to provide:
- Driving Licence
- Proof of Address
- Proof of Income
Self-Employed? Even if you’re your own boss and have bad credit, we’ve got options for you.
Why Choose Oasis Motor Finance for Bad Credit Car Loans?
We’re more than just a finance broker; we’re your partner in turning your transport dreams into reality—whether that’s the perfect car for family outings, something spacious for shopping trips, or a vehicle that makes a statement at work. Plus, our dedicated account managers are always on hand to guide you every step of the way.