Where to Go Next
We know from our experience that being refused car finance is a harrowing ordeal, especially when you may be earning a good wage, its terrible when you find out nobody will lend you any money for a car. You have now only a few options open to you, 1) Earn the Cash and Buy a Car Outright or 2) lease a car with a company who offers leasing for poor credit.
Why Would They Lease to Me
It is a great question, why would they lease to me if I have been refused for finance? The answer is risk, with a poor credit lease the risk element is far lower, and because you will pay an initial payment and if you fail to pay the car comes back in, then the risk to you getting in debt is minimised to a single payment. With normal Hire Purchase you could get yourself into trouble if you dont make your payments as you may lose your car and have to pay for finance and legal fees, using a bad car leasing method takes that risk away and makes the product more desirable for people who simply want a car with no fuss.
Finding a car when you have been refused finance or have really poor credit.
More InfoIf you're struggling to meet your car finance payments, or want to cut costs, you can exit the agreement early or return the car. However, there are some conditions and fee's attached. Make sure you don't rush into any decisions before you know the conditions.
More InfoIdentify and fix problems with your credit report, Make sure you have your full credit history,
More InfoIn order to become debt free, you need to take a stock list of your debts. This means confirming the balances
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