Poor credit makes you helpless when you need some extra cash to buy a new car. You are considered as a risk factor in loan market and lenders start discriminating you. If you have a poor credit score and seem to follow the lines mentioned above then you are completely wrong now. Bad credit car loans U.K. provide the financial help needed in case you have an adverse credit history. The interest rate may be higher than conventional loans but seeing its worth it can be accepted. These loans are available to people with CCJ's, bankruptcy, any default payments etc.
Various facts:
In order to avail you must know your credit score well. It is advised that if your credit score is above 450 then you should wait for some time and improve it a bit more and than go for loans. But if it is below 450 then you have no option other than to go for these loans. The requirements in order to get these loans are simple as you must be an U.K. resident and above 18 years, you must have a paid job, you must have a saving account etc. If you fulfill these prerequisites then finding a lender is quite simple. You may go for online lenders too, if you want to have a fast loan.
Bad credit car loans UK? are available in secured as well as unsecured versions. The secured loans require collateral to be kept and are cheaper than unsecured loans. If you have chosen secured loans then you must be punctual in paying monthly installments, as in case of failure, lender may take over your collateral. Also timely repayment is needed if you don't want to loose your car and sully your creditability any further.
