Car Finance With a CCJ
If you’ve had a County Court Judgment (CCJ) in the past, you might be wondering if it’s still possible to secure car finance. The good news is that you can get car finance with a CCJ.
At Car Finance 247, we’re proud to work with trusted lenders across the UK who offer finance to people with CCJs and less-than-perfect credit histories. Our team will assess your situation, and do our best to find you an affordable car finance deal that fits your needs.
Here's everything you need to know, from understanding how a CCJ impacts your finance options to what you can do to improve your chances of approval.
What is a CCJ?
First thing’s first, it’s important to understand what a CCJ is and why it can affect car finance. CCJ is short for County Court Judgement. In England, Wales, and Northern Ireland, a CCJ can be granted against you if you fail to repay a debt.
The judgement will give you a deadline for repaying the loan and outline exactly how much you owe and how it’ll be paid. Your CCJ will be kept on record, and could impact your credit score for six years, even after you’ve paid off the original debt.
Can you get car finance with a CCJ?
Having a CCJ can make securing traditional finance more difficult, because lenders see you as more of a risk. But, it doesn’t mean you’re out of options. Some lenders are willing to consider your application if other aspects of your financial profile are strong. They look at factors such as having a stable income or a history of making payments on time.
At Car Finance 247, we work with a wide range of specialist lenders who understand that financial difficulties can happen, and they offer tailored solutions for people looking for car finance with a CCJ.
Some lenders may charge higher interest rates or ask for a larger deposit to offset the risk. However, we aim to connect you with lenders who offer competitive rates, even if you have a CCJ.
Does a CCJ affect car finance?
Yes, a CCJ can affect your ability to get car finance, and the deals you’re offered. Many lenders may be more hesitant to approve your application. However, it doesn’t necessarily mean you’ll be refused.
The impact of a CCJ can depend on several factors, including:
Whether the CCJ is satisfied or unsatisfied
The amount of the CCJ
Your overall financial situation
In general, having a satisfied CCJ (where the debt has been paid off) may improve your chances of getting approved for car finance. Your financial circumstances, including your income and ability to make regular payments, will also affect whether you can get approved.
I have bad credit and a CCJ, can you help?
We may be able to help you find a car finance deal even if you've had a CCJ. If you have bad credit and a CJJ, you may find it harder to get approved for finance, unless you find a specalised lender. The good news is, we work with a panel of trusted lenders, and some of them specialise in CCJs and bad credit car finance.
Of course, everyone’s circumstances are different and it’s not all about your credit score. So, we’d need to take a look at your individual details to see if we can match you to one of our lenders.
Can I get car finance with a satisfied CCJ?
If you have a satisfied CCJ (meaning you’ve paid off the debt) this can work in your favour. Lenders tend to view a satisfied CCJ more positively because it shows that you’ve taken steps to resolve your financial issues.
At Car Finance 247, we can connect you with lenders who consider satisfied CCJs in their decisions. To boost your chances of getting car finance with a satisfied CCJ, it can help to:
Provide proof that the CCJ is satisfied.
Offer a larger deposit, if possible.
Ensure your other financial obligations are up-to-date and well-managed.
Can you get CCJ car finance with no guarantor?
Worried about needing a guarantor? While some lenders may prefer having a guarantor to reduce their risk, others are open to offering finance without one.
We work with lenders who offer CCJ car finance with no guarantor. These lenders check your finances, like your income and job stability first and foremost. They want to know if you can make monthly payments, and may not require a guarantor to back your application.
To improve your chances of being approved for CCJ car finance without a guarantor, it can help to:
Show proof of stable income.
Offer a larger deposit, which reduces the lender’s risk.
Demonstrate a history of making regular payments, even if your credit is poor.
Getting car finance with a CCJ: tips to boost your chances
While it’s possible to secure car finance with a CCJ, there are a few steps you can take to improve your chances:
Check your credit report: Make sure all the information on your credit report is accurate, and dispute any errors.
Pay off debt: If possible, try to reduce your existing debts, including satisfying any outstanding CCJs.
Save for a deposit: Offering a larger deposit can improve your chances of approval and lower your monthly payments.
Consider specialist lenders: We can connect you with trusted lenders that specialise in poor credit or CCJ car finance, and may be able to offer you a deal.
If you’re looking for car finance with a CCJ, get in touch and we’ll talk you through your options.