Car Finance/Hire Purchase, Would i be accepted?

xTheBearx

Hi there,

Im in the market for a new car after coming out of a company car scheme.

I checked my credit report from experian and equifax, however the report from equifax differs from the report from experian!

Experian report states i have 3 credit accounts, 2 active and one old account. The 2 active are, mobile phone and credit card which i applied for a couple of years ago. I've not missed any payments on any of these 3 accounts which my report states. Also i've not applied for credit since applying for my credit card, so no credit searches on my report. The balance of my credit card is £5 so im not maxed out or anything. Also the old account is a previous hire purchase agreement which has no missed payments. No adverse here:j

However with equifax its the same as above, but............I've an old de-faulted bank loan from a good few years ago. Its due to come off after 6 years from the default date,which is roughly a year and a half from now. The balance is settled.:(

Please could someone advise me on my options and would i struggle to find a finance company to accept me?

Many thanks!

PNPSUKNET

cant see why not

xTheBearx

PNPSUKNET wrote: »

cant see why not

Just really concerned with this default thats on my equifax report. I dont want it to stop me from obtaining credit at a dealership and the embarrasment that follows!

Its my fault the defaults on my account, naivety on my part.

paulmcerlean

Pretty much all the main finance houses for car purchases - Alphera, Blackhorse, Santander all search Experian. You should be absolutely fine.

xTheBearx

Thanks for the advice.

PNPSUKNET

as above, experian is used

xTheBearx

Update!

Applied for hp today and was accepted by Santander. Many thanks!