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Drivers Wrongly Assume They Won't Qualify for Car Finance, Broker Reports
The broker says soft-search checks and specialist lenders can still help drivers, and 2,300 verified Trustpilot reviews back its approach.
- Carloans365, a UK used car finance broker, reports that many drivers avoid applying for car finance due to credit score concerns, arguing that a score does not capture an applicant's full financial circumstances.
- Drivers often assume a low score means automatic rejection, leading many to avoid applying entirely, though Carloans365 notes that while a low score results in fewer options on different terms, it rarely means no options at all.
- Specialist lenders often look beyond a basic score, considering factors like self-employment or past missed payments, and Carloans365 encourages using a soft-search eligibility check that takes about 60 seconds and does not damage a credit file.
- Founded in 2018, the broker works on behalf of drivers rather than dealerships to secure fair deals and maintains a 4.6 out of 5 rating from more than 2,300 verified reviews on TrustPilot.
- The company emphasizes using plain English and avoiding jargon to help applicants understand terms like APR, aiming to prevent drivers from settling for expensive or unreliable vehicles due to confusion.
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Total News Sources62
Leaning Left4Leaning Right0Center51Last UpdatedBias Distribution93% Center
Bias Distribution
- 93% of the sources are Center
93% Center
C 93%
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