MoneyBarn PLC one of the UK’s leading car finance providers announce a ground breaking service to provide guaranteed car finance, even to people with a bad credit rating and poor financial history.
While traditional lenders base their lending decisions mainly on the credit score or rating of each individual consumer, Moneybarn take a far more pragmatic approach to lending, looking at a wide range of indicators to determine whether a client can actually afford the loan that they require.
This wider reaching viewpoint means that Moneybarn can offer guaranteed car finance to people who have already been declined elsewhere, and who cannot access loans from other providers, including even discharged bankrupts, and people with CCJs or IVAs.
This new methodology in assessing applicants for car finance means that Moneybarn are able to help far more people to afford cars and other vehicles than traditional car finance providers, especially those people who have little chance of being accepted for financial loans elsewhere.
Moneybarn’s unique approach is to have the consumer find the vehicle they require first, then to submit the details of this vehicle such as it’s age, price, and the size of any deposit so that they can determined whether or not the applicant can afford the vehicle.
These figures are taken into account along with the consumers other financial obligations, their income, and their credit score to calculate the affordability of the loan.
If the consumer can afford the repayments without overstretching themselves, then car finance is offered to the applicant.
In these times of austerity and the global tightening of loans and other financial instruments by banks, Moneybarn believe that they have adopted an intelligent approach to finance that makes it possible for ordinary consumers to access funds required for important purchases that they otherwise would not be eligible for.
moneybarn creates more opportunities for more consumers to finance the purchase of cars with a responsible, ethical and inclusive approach to car finance. With over 20 years experience of working with customers with unusual and non conforming backgrounds who may have experienced difficulties obtaining credit elsewhere, moneybarn is the UK’s leading specialist car finance provider. More information can be found at www.moneybarn.com