If you have had a CCJ, IVA or default in the past, you may find it tricky to be approved for car finance. However, at Quick Car Finance we work with the full market of car finance providers who are willing to take a view on all kinds of circumstances and credit histories, including CCJs and defaults.
Our lenders are more interested in your future, rather than your past. If you have a stable and regular income and can afford monthly repayments, we’d be happy to provide car finance to drivers with CCJs and defaults so you can get on the road in no-time.
Want to get a CCJ car finance quote today? Go ahead and use the budget calculator provided, or get a free and no-obligation quote using the button below.
A CCJ refers to a ‘County Court Judgement’, whereby a creditor has taken you to court over unpaid fees. This may be for outstanding bills, loans or credit that was not fully paid off, despite multiple attempts to recover their payments.
To acknowledge the court judgement, you will have a CCJ put on your credit file for a period of 6 years and this will be noted as ‘satisfied’ once paid, or remain ‘unsatisfied’ if the bill is still outstanding.
A default is similar to a CCJ. If you have missed a payment on a car loan, the lender usually sees your account as ‘delinquent’. If you still have not made the missing payment, then your lender can consider your loan default, meaning that they’ll more actively look to collect your missing payment.
This note is relevant for future creditors to show that you have failed to make an ongoing payment and they will be wary of this when you apply for other loans and financial products.
Yes, there are a number of car finance lenders who are willing to take a view on people with CCJs and defaults.
As a rule of thumb, the longer ago the CCJ was enforced, the less likely that lenders will take it into account as this shows you’ve been unable to pay back the owed amount for a longer period of time.
If you have satisfied your CCJ within 1 month of its issuing, this will be removed from your account. If you have satisfied it after this, you can contact the court to have the information on your credit file changed - and this will usually cost just £15.
Moving forward, if you have a regular and stable income and have also recently paid off other bills and debts, the lender can see that your credit is improving and therefore you may be able to access the car finance you need (even with a CCJ or default).
We have a number of finance options for people with CCJs and defaults including:
Personal Contract Purchase (PCP) – Make a deposit, fixed monthly payments and the option to make a balloon payment and own the vehicle outright.
Hire Purchase (HP) – Make a deposit, pay a higher monthly rate and eventually own the vehicle outright.
Car Leasing – Make a deposit and pay monthly with no option to own the vehicle outright.
Personal Car Loans – Borrow an unsecured loan and transfer this to the dealer.
Here are a few other points we feel are important to mention when discussing car finance with CCJs and defaults:
Quick Car Finance is used to working with people of all backgrounds and circumstances, including CCJs and defaults, and with over 48 different tiers of finance available, we can help find the right for you.
Upon approval of your CCJ car finance, we can recommend a number of reputable car dealers and transfer money to them directly. We carry out a full car inspection to make sure it is roadworthy and, if successful, you can purchase your new car from start to finish in just 24 to 48 hours.
To apply for CCJ car finance, start by filling in our application, including the overall value of your desired car and how long you wish to borrow for e.g. 4 years.
We will instantly provide you with a list of competitive quotes from car finance providers across the UK.
Once you have selected the right quote for your CCJ car finance, we will carry out some final checks and process your application for funding as quickly as possible.
Our application is completely free and no obligation. To get started on your CCJ car finance application, simply click on get a quote below.