The main difficulty with having a less than perfect credit rating in the current financial climate is finding a lender that is willing to take a risk on someone who under normal rules would be deemed as a high risk applicant. Unfortunately the methods used for underwriting a proposal nowadays requires a full credit search and so the consumers total credit file is referred to and anything relating to credit issues is frowned upon. It might be that you have been a customer of a mainstream funder for over 10 years and never missed a payment – yet still get declined. This is because of the overall profile approach to lending that is utilised and so as frustrating as it may be it is the way the ‘system’ operates! No deposit car loans are unfortunately unavailable at present in the Bad Credit Car Loans market – but we are working on it! At the moment all applications need a minimum of 4 months initial payment but this can be made up of a part exchange also so some customers will be closer than they realise.
MSG Cars takes the business of offering car loan solutions for our customers very seriously and so whilst we cant offer you No Deposit Car Loans we can promise that we will get you the very best deal available to your credit profile. Our Car Loan consultants are on hand to ensure that the new car you purchase is the best price possible and we can use our nationwide network of dealerships to assess any potential purchase you may have in mind.
