Best way to get accepted for car finance

Best way to get accepted for car finance

As much as we all would like to be cash rich, it isn’t always the case, especially if we’re wanting to purchase expensive items, like a car or a new home. Probably your second biggest investment you will make in life is for a road vehicle, which can either be a brand new / used car or used van. The other alternative is applying for car finance in order to purchase your chosen used car or used van. 

At Best Price Car Sales, we have researched the best chances for you to successfully apply for car finance, which will highly increase your likelihood of getting acceptance and driving away the car of your dreams.

Simple Tips

Firstly, and probably the most important thing is being able to produce at least the last 3 months salary payslips to prove you are able to afford the monthly car finance payments. The last thing anyone wants is to be struggling with repayments, and always take into account the other costs associated with owning a car, such as fuel, insurance, MOT, wear and tear, etc.

Another thing to do is get yourself on the electoral roll at your current address, so when you are applying for car finance, the lender can easily find you on the electoral roll. 

Applying for a small credit limit credit card with your bank or a reputable Visa or Mastercard credit card company. The tip is to set up a direct debit to make monthly minimum payments which will show as a major positive on your credit file. (make sure you don’t miss any payments!)

If you can, also get a mobile phone contract, and again set up a direct debit to make sure no payments are missed or late.

All our lenders take into account their decision if you have a small deposit ready. This can strengthen your car finance application too. Make sure you have a full UK driving licence or at least a provisional, which can also be acceptable in some cases.

Do Not..

Apply to a multitude of companies for financing, this is not only detrimental to your credit score, but can also raise red flags and get you declined very quickly and affect your credit score for some time.. 

Make sure you are ready and in a position to actually go ahead with your application. The last thing you should ever do is make an application for car finance just because you’re curious on whether you’d be accepted or not. 

Do not give up hope if you are declined elsewhere either, because businesses like Best Price Car Sales, have a portfolio of lenders who specialise in most cases of credit profiles. It’s best to be completely honest with our advisors about any adverse history or employment statuses. We can even provide you with car finance if you are only receiving certain benefits from the government.

Best Price Car Sales is a one-stop shop, meaning we not only stock and source 100’s of quality used cars and used vans but we are also a finance broker with a portfolio of lenders to choose from. In a few simple steps, you will be able to know how much car finance approval you are able to get, and then our advisors will discuss your type of choice of vehicle requirements. 

Once you have made the decision, through a selection of images and specifications, you can have your used car / used van delivered free of charge to your home or place of work. Best Price Car Sales is aware of social distancing, and we take our customer's safety very seriously, so we operate fully online, without you having to leave your home. You can then inspect and test drive your new purchase. Only when you are happy will you take ownership of your vehicle.

For more information on how you can apply for instant car finance, simply click here or you can call to speak to one of our friendly advisors on 02382 549 222 and we will be happy to assist you today.