CCJ car finance

Having a CCJ can make it harder to find a lender that will approve you for finance. Understanding what a CCJ is and how one can affect your ability to be approved for finance, are the first steps to consider. Moneybarn’s CCJ car finance guide is here to help.

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CCJ car finance

Having a CCJ can make it harder to find a lender that will approve you for finance.

Understanding what a CCJ is and how one can affect your ability to be approved for finance, are the first steps to consider. Moneybarn’s CCJ car finance guide is here to help.

On average our customers rate our service 4.5 out of 5. (March 2021)

What is a CCJ?

A CCJ stands for County Court Judgment, which is a type of Judgment that exists in England, Wales, and Northern Ireland that can be granted against you if you fail to repay any debts that you owe.

Before you have a CCJ applied against your name, your debtors must issue you a warning letter, to let you know that you need to repay what you owe or they will pursue legal action.

The Judgment will state a deadline for repayment and outline how much you owe and how you will need to pay it. CCJs are kept on your credit record for six years, even after you have paid off the amount, and having one on your record can make it difficult to obtain car finance.

What is a CCJ?

A CCJ stands for County Court Judgment, which is a type of Judgment that exists in England, Wales, and Northern Ireland that can be granted against you if you fail to repay any debts that you owe.

Before you have a CCJ applied against your name, your debtors must issue you a warning letter, to let you know that you need to repay what you owe or they will pursue legal action.

Can I get car finance with a CCJ?

Some specialist lenders like Moneybarn can approve car finance for individuals who have a CCJ against them, or is:

• Self-employed
• In part-time work
• Has a poor credit rating due to having missed a credit card payment in the past

Securing car finance with a CCJ is certainly possible, and we could help you. If you’re unsure if you are eligible for CCJ car finance, contact Moneybarn today or use our online car finance calculator to get an idea of what you might be able to afford.

At Moneybarn we offer a Conditional Sale Agreement, which means we legally own the vehicle while you are paying off your car finance. Once all repayments have been made, then you will be the registered and named driver.

Can I get car finance with a CCJ?

Some specialist lenders like Moneybarn can approve car finance for individuals who have a CCJ against them, or is:

• Self-employed
• In part-time work
• Has a poor credit rating due to having missed a credit card payment in the past

What your loan could look like

I was shocked I even got approved. Moneybarn made me feel like a human being again, not only because they gave me a chance, but they also treated me with respect. I’ve never had anything but great service from them ever since.

Natasha

How to avoid a CCJ

If you find you’re struggling to make your repayments, speak to a free debt adviser. They can help you make an offer to your creditors and explain the options available to you.

Usually, you should be able to come to an arrangement that allows you to go on making payments you can afford and avoid court action.

Make your loan repayments on time and pay off your debts early if you can. This shows lenders that you’re a sensible borrower. If you’re using savings to pay off debts, make sure you keep enough cash in an easy access savings account for emergencies.

How to avoid a CCJ

If you find you’re struggling to make your repayments, speak to a free debt adviser. They can help you make an offer to your creditors and explain the options available to you.

Usually, you should be able to come to an arrangement that allows you to go on making payments you can afford and avoid court action.

Managing your budget

When you have had credit issues it is more important than ever to ensure that you have a regular income. This may mean that you need reliable transport to get you to work, or even to allow you to earn money. Unfortunately, your CCJ may affect your ability to easily access finance.

We understand that keeping to your monthly budget is essential. Not only can we help with CCJ loans for a car, van or motorbike, but we will also work with you to find a monthly repayment that is affordable for you. Use our car finance calculator to find the type of car that you could finance with Moneybarn.

You may find yourself in unexpected circumstances where you need a car or van to continue to earn money, perhaps for work. In this case, your CCJ may prevent you from getting the finance that you need to get on with your everyday life.

At Moneybarn, we understand that living affordably is key, especially if you have a CCJ. To that end, we ensure that all car finance agreements are suitable for you, and that the length of your repayments make sense for you and your life.

Managing your budget

How to apply for car finance with a CCJ

To understand how Moneybarn can help to provide car finance if you have a CCJ, or if you are seeking bad credit car finance, contact Moneybarn for assistance or apply online for finance today.

For additional finance information and FAQs, visit our How It Works page.

How to apply for car finance with a CCJ

To understand how Moneybarn can help to provide car finance if you have a CCJ, or if you are seeking bad credit car finance, contact Moneybarn for assistance or apply online for finance today.

For additional finance information and FAQs, visit our How It Works page.

Getting car finance after you’ve been refused

We work to help out people who have been refused car finance elsewhere, looking at a range of criteria and trying to provide bespoke car finance offers to meet their needs wherever possible.

A quick guide to car finance from Moneybarn

We use our own criteria when deciding whether to approve someone for car finance or not, after all – you’re more than just a credit score.

Get a decision without it impacting your credit score.

We use a soft credit search which means you’ll get a decision, and it will have no effect on your credit score. The search will only show on your credit file if you take out an agreement with us.

For a better road ahead

Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.

Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.

Moneybarn’s VAT registration number is 180 5559 52.

Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)

Moneybarn No. 1 Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)

Representative example: £10,248 repayable over 58 months. 57 monthly payments of £326.96. Representative 31.9% APR. Total amount payable is £18,636.72. Subject to affordability and you could risk losing your vehicle if you do not keep up payments.