If you have bad credit & think you can’t be approved for a car loan, think again! It could happen with the assistance of a bad credit car finance specialist. A bad credit car finance specialist like Finley Finance, specialises in helping clients with less-than-stellar credit ratings. For instance, we have access to various lenders who offer loans for people with poor credit rating.
As we work towards our goal in helping you secure the car finance you need, here are some tips that could not only help increase your chances but also improve your credit health.
Tips to Improve Your Chances
If you’ve checked our loans for people with poor credit rating, we state some quick tips there. We’ll discuss those here along with other tips.
Assess your financial situation
Even before you consider applying for a car loan, you need to assess your financial situation first. Request for a copy of your credit report from credit reporting bodies. Additionally, check how much savings you have along with your present financial obligations. These include utility bills & debts. All of this information will provide you with a clear understanding of where you stand. Alternatively, we can do this all for you. Apply with Finley Finance for a free credit check and financial assessment.
Meet your financial obligations.
Having a bad credit rating is usually caused either by late, missed or insufficient payments to what is owed. These include debts & utility bills. Each time you fail to make payments as agreed, it harms your credit rating. So, try your best to settle your financial obligations as expected. Moreover, doing this shows poor credit lenders that you’re doing your best to improve your financial situation.
Save as much & as often as you can
Saving up will also help you. It would be great to save up a sizeable amount but any regular savings, no matter how small, could help.
Don’t apply with multiple lenders
Once you’ve decided to get a car loan, your first thought may be to apply with multiple poor credit lenders & see who approves you. Don’t. This will only undo the good that meeting your financial obligations & saving up did for your credit rating. How so? Each time you apply, your credit report reflects it. Multiple declined applications can cause your rating to dip. While we’re not saying you’ll be declined, it’s better not to risk it.
So, what should you do then? Read our next tip.
Seek expert assistance from a bad credit car finance specialist
Seeking the help of a bad credit car finance specialist like us could increase your chances of getting approved. We specialise in helping good people with bad credit.
Once we’re aware of your needs, budget & circumstances, we know which poor credit lenders to tap. So, we’re able to provide you with the best finance options. Furthermore, with our expertise, we could even help you buy a car with bad credit and no deposit. Yes. You read that right. We could help you buy a car with bad credit and no deposit. This means you only have to worry about finding the perfect ride. And you know what? We can also assist you with that through our vehicle procurement service. Just let us know.
Car loan approval even on bad credit? Finley Finance could make it happen!
Our team’s years of experience & in-depth industry knowledge give us the best chance of securing the car finance you need when others can’t. So, whether you’ve been discharged from bankruptcy, have defaulted or been declined elsewhere, we could help. To request for an obligation-free quote, just call +61 1234 567 890 or request a quote here.
