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Declined Car Finance

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Couple sitting on sofa with paperwork and laptop looking concerned after being declined car finance

Declined Car Finance

At The Car Loan Centre, we offer affordable car finance options for those who have been turned down by other lenders. Our team specialise in car finance for customers with bad or poor credit, and we don't rely on automated systems to make decisions. Instead, we evaluate each application on its own merits, considering your affordability rather than just your credit score. However, we still perform a credit check to verify your identity, review your history and ensure you are not currently bankrupt.

If you're interested in securing finance for a vehicle from our extensive range of cars, even after being declined elsewhere, apply now or request a call back to speak with one of our specialists.

Family who have previously been declined car finance are in a showroom next to an open car they could be approved for

Been Declined Car Loans Elsewhere? We Could Help

At The Car Loan Centre, we offer a unique approach to car financing, including poor or bad credit car finance. Unlike other lenders, our lending decisions are based on your affordability rather than just your credit history. This is what sets us apart and allows us to say yes even when other lenders have declined your applications for car loans. Our human-centred approach means that you could get the car finance you need, tailored to your budget.

Family who have previously been declined car finance are in a showroom next to an open car they could be approved for

We recognise that it can be disappointing being refused car finance despite your ability to repay the loan. Unfortunately, many lenders use automated processes to filter through applications, often resulting in refusals without a proper evaluation of your situation. This can lead to you being declined car finance without taking your affordability into consideration. Our approach is different, and we strive to provide tailored financing solutions based on your specific circumstances.

Reasons for Car Finance to be Declined

Car finance may be declined for various reasons, such as a low credit score or past financial difficulties like arrears, CCJs, or defaults. A good credit score takes time to build and may not accurately reflect your current affordability. We understand this, and our team is committed to helping you secure financing even if you have faced these challenges in the past. If you have been turned down for car finance due to affordability, it means that your current financial situation may make it difficult to repay the loan. We take this into account and evaluate both your income and expenses to offer finance that matches your individual affordability and needs. Don't let past financial difficulties hold you back. Apply now to see what options are available for you.

Declined Car Finance - How Does it Work?

We've streamlined the process for those who have been declined car finance elsewhere to make it quick and easy for you to apply. You may have previously been declined as you receive a benefits only income, that’s why we offer options for benefits car finance. We treat all applicants equally, even if you were refused car finance from a previous car loan company, to ensure fair and consistent decision-making. With our simple application process, you can find out if you've been approved and get the car you want sooner.

You will need to meet these requirements first:

  • You are at least 18 years old
  • You hold a valid UK/EU Driving Licence
  • Affordability
  • You're a current UK resident
  • You are employed, self-employed or have income from benefits
  • You're not currently bankrupt

If you meet the minimum requirements, we'd be happy to process your application and find out how we can assist you. There are two options available: a fast-track application by clicking apply now or filling in your information to receive a call back from our team.

Get a Decision in Principle

You can receive a decision in principle and select your desired vehicle from our extensive selection. Our collection includes 100s of options, ranging from compact hatchbacks to spacious family cars. Upon successful assessment of your affordability and credit check, we'll arrange for delivery or pick-up at one of our centres. Complete your purchase by signing the final documents and drive away in your new car with peace of mind.

As part of the application process, you'll need to provide proof of ID, proof of address, and recent bank statements (from the last 3 months). This is necessary for verifying your identity during the underwriting process and determining your full affordability. Unlike other lenders who solely rely on credit history, we require this information to make informed decisions and approve applications, even if you've been declined for car finance previously.

Our finance options go beyond just car financing. We offer logbook loans for those who already have a vehicle and have been denied a cash loan due to their credit score. By using your vehicle as collateral, we can determine its value and provide finance up to a certain amount with manageable repayments, even if you have a history of CCJs or defaults.

Even if you've faced financial difficulties, we may still be able to assist you. As long as you're not currently bankrupt or facing bankruptcy proceedings, we're willing to evaluate your application.

We require a full, valid UK/EU Driving Licence for finance consideration. Joint applications are also only considered if at least one of the applicants holds a full valid UK/EU Driving Licence.

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The Car Loan Centre is a trading style of The Asset Exchange Ltd. The Asset Exchange Ltd is authorised and regulated by the Financial Conduct Authority, firm reference 729827. Registered Address: The Car Loan Centre, 77 Wollaston Way, Burnt Mills Industrial Estate, Basildon, Essex, SS13 1DJ, registered company no: 08679485.

We are a lender, and not a broker, and operate with a flat interest rate for all customers. We pay our sales team a flat rate of commission for vehicles sold, and this does not affect the terms of your agreement, nor is it affected by your choice of vehicle or the terms of your finance. We may receive commission from other third parties as a fixed fee or fixed % of commission to us for introducing you to their services with your consent. If you elect to purchase one of these 3rd party products/services we may pay our sales person an additional commission for this, For example if you choose to take an extended warranty. If you would like a breakdown of all third parties who may pay us a commission in certain circumstances this can be provided on request.