New Vehicle Loan Rates

New Vehicle Loan Rates

New Vehicle Loan Rates

When the T&C's of a credit agreement aren't complied with, lenders are quick to alert credit reference agencies. Bad credit will be held by Experian, Equifax and TransUnion for up to seven years. Before lending money, financial institutions use a process known as credit scoring to underwrite the risk of accepting a new customer. Although borrowing money will now be more difficult, non-status loans for low credit scores may still be available, albeit on completely different terms.

Popularity of Loans for Low Credit Scores

Guaranteed bad credit loans are specifically designed to cater for a section of the market that has been neglected by the banks. Lenders cherry-pick their customers and are now rejecting more credit applications than used to be the case. Specialist poor credit lenders provide fast cash advance loans to customers without the need for a credit check at any stage of the application process.