 There are many different forms of Guaranteed Car Finance. However, all fall into two categories. At the end of some finance agreements you own the car, and at the end of others the finance company owns the car. For most people buying a car will involve some form of vehicle credit whether it is a finance loan from a high street bank, or building society, or from a major lender.
In most cases in order to be approved for vehicle credit you will be required to pass a credit scoring process by gaining a sufficient number of points. Points are awarded for different things. For example, owning your own home, living in the home for a substantial period of time, being in full time employment and being employed by the same employee for a good period of time. Points are deducted for missed credit card payments or mortgage arrears and major discrepancies like mortgage defaults or county court judgements can result in you being refused credit by the traditional banks and other lenders.In these days of high consumer spending, and a relaxed attitude to lending money, many people now find themselves in a situation where their personal unsecured debt has grown to the point where missed payments are a monthly occurrence. The unfortunate side effect of this is that many of the normal routes to borrowing money have been closed off. However, this is by far the end of the story, many car companies now offer credit terms that vary depending on the financial circumstances of the borrower. This has meant that people that until now have had to compromise their purchasing decisions because they could not afford the car that they wanted now have the freedom of choice that is available to everyone else.Express Car Credit specialise in providing loans for people looking buy a new or used car who have had previous credit problems, or people who are encountering problems obtaining credit now. Being specialists in poor credit history customers they can offer car loans to suit almost every circumstance and unlike some companies the annual percentage rate is not fixed. It is variable an depends not only on the merits of each individual case but also on the amount you are looking to borrow. They also give you the opportunity to have your credit checked before you begin choosing your car. Then the only offer cars that not only meet your specific requirements but also you budget. |
