CCJ, Defaults and IVA Car Finance
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No impact to your credit score
See the best rates available
Car Finance
Rates from 9.9% APR. Representative APR 21.9%
Representative example: borrowing £7,000 over 4 years with a representative APR of 21.9%, an annual interest rate of 21.9% (Fixed) and a deposit of £0.00 the amount payable would be £220.16 per month, with a total cost of credit of £3,567.81 and a total amount payable of £10,567.81. This is an example only, lender fees may apply. All finance subject to status.
Vehicle Price:
£ 7000
Initial Payment (Deposit):
£ 0
To Pay Over:
48 Months
Best Available Rate:
6.9%
Initial Borrowing:
£
Total Cost Of Credit:
£
Total Amount Repayable:
£
48 Monthly Payments of
£
Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.
Representative example: borrowing £7,000 over 4 years with a representative APR of 21.9%, an annual interest rate of 21.9% (Fixed) and a deposit of £0.00 the amount payable would be £220.16 per month, with a total cost of credit of £3,567.81 and a total amount payable of £10,567.81. This is an example only, lender fees may apply. All finance subject to status.
Can I get car finance with CCJ, Defaults and IVA?
In short, yes!
At Vizion Finance, we understand the financial journey through life can be unpredictable. Whether you’ve had a CCJ, or entered an IVA, we believe everyone should be entitled to equal opportunities, as purchasing a new car is more than just that. It’s an integral part of daily life, whether it’s for the school run, getting to hospital appointments or even for work.
Get in touch today for a no-obligation quote
Process of your finance application
Finalising
If you are happy, we will finalise the deal with the lender on your behalf.
Enjoy Your Car!
Collect your car from the dealer and enjoy it for the duration of your contract.
What do these terms mean?
CCJ CCJ Short for a County Court Judgement. If you fail to repay a debt a CCJ can be granted against you, which outlines a deadline for repaying a loan, how much and how you will pay it. This remains on your record for around 6 years after you have paid off your debt.
Default If you have a default, that means you have missed multiple payments in the past that has been noted on your credit file. This is typically after missing 3 – 6 months of payments.
IVA Individual voluntary agreement. An IVA is an agreement that your creditors make to help you clear your debts at an affordable rate. This usually stays on your credit file for around six years but does not mean finding finance is impossible
How can I maximise my chances of being approved?
There are a few steps which we can strongly recommend that will increase your chances of securing a car finance deal:
Checking your credit score By checking your credit score regularly you can ensure that you have an idea of what your credit status is like, identify any mistakes or errors and work on areas that can be improved. There are many ways in which you can improve your credit score, such as using credit cards and registering on the electoral roll (see below).
Prepare your proof of income If you’re in employment you’ll likely have payslips, otherwise you’ll need to provide 3 months minimum of bank statements. It can be helpful to clean up your bank statements, remove any non-essential subscriptions, evaluate if there are any outgoings that can be stopped. If your income is arriving in multiple instalments, ensure you label and identify these accordingly or try to merge them into one payment for ease.
Register on the electoral roll It’s free and allows you to confirm your name and address online. It is one of the first things that lenders look at when evaluating your finance application and will help you gain approval for a finance product.
Increase your deposit Putting down a larger payment upfront may reduce the amount you need to borrow making it more likely for lenders to approve your application.
What’s next? How do I apply for CCJ, Defaults and IVA Car finance?
Get a free no-obligation quote by filling in our quote form.
If you’ll be approved in theory by one of our panel lenders, we will reach out with your offers and explain what you have available.
We will be able to answer any questions you may have and we will leave you to find your perfect car (or you might already have one in mind!). You can search our vehicle stock or let us know about a car you have found elsewhere.
Use our calculator to find out how much you could afford to repay monthly.
Comparison of Finance Options
| Finance Features: | Hire Purchase (HP) | Personal Contract Purchase (PCP) | Personal Loan |
|---|---|---|---|
| Requires initial deposit | Optional | Optional | |
| Car is yours at the end of the agreement |
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Optional | |
| Fixed monthly payments |
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| Optional balloon (final) payment |
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| Avoid excess mileage charge |
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| Secured against an asset (e.g. a car) |
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| Support with vehicle issues |
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Frequently Asked Questions
What might affect my eligibility?
We always perform a soft check on our clients that does not affect your credit score but will tell us the likelihood of your approval. Circumstances such as bankruptcy, unemployment, CCJs, missed payments and IVAs may negatively impact this
Can you guarantee a deal for me?
No. Guaranteed car finance is not common under regular circumstances, much less so when your income is dependent upon multiple factors such as other people, business operatives, or availability of work
What can I do to improve my chances of approval?
Join the electoral roll, check your credit score regularly, take out a loan with a person with good credit, use a guarantor.
These are all examples of ways to improve your chance of success and is not exhaustive.
Choosing a car that requires less lending might also improve your chances.
Let's get started?
Getting a Free Quote with Vizion Finance only takes 5 minutes, and will not affect your credit score
Get in touch
Phone:
0203 322 1905
Email:
sales@vizionfinance.co.uk
Business Hours:
Monday to Friday 09:00 - 20:30
Saturday 10:00 - 19:00
Sunday 10:00 - 17:00
