When it comes to buying a new car it’s often a minefield for many people on how to finance the purchase as let’s face it outright cash purchases are usually few and far between and then there is also the Bad Credit car finance market to consider too. With today’s cut and thrust world it’s no surprise that the latest models from the world’s top car manufacturers tend to catch the buying public’s eye and the millions spent on marketing means that the latest model is always preferred to an outdated option. The main difficulty faced though is not what car to buy but how to actually get credit! With over 30 million motorists in the UK there are a large percentages that find they cannot get approved for the car loan or finance amount they request. Often due to bad credit on their credit report or sometimes from lenders tightening up the criteria it now means that specialist poor credit lenders need to be located when attempting to buy something worthwhile. The boom period of the early 2000’s evaporated as quick as the Royal Bank Of Scotland’s share price circa 2007 and this has meant a worldwide shortage of available credit – even if you have an excellent rating. Customers with previous problems such as a County Court judgement or default notice now tend to search on the Internet to find companies that can accept their business. Items that would cause a Prime finance companies underwriter to suffer a heart attack such as Mortgage arrears or Bankruptcy can also be catered for with a Sub Prime lender. The way you would go about this is still the same as an application form is completed with personal, work and address details and a decision is also still made very quickly. With nearly all Non Status lenders you will need to place a deposit of around 3 to 4 times the monthly repayment level and this helps with security for the lender in that they only finance the trade value of the vehicle and so don’t overfund an asset. It’s also usually the case that a customer needs to be UK resident and hold a full drivers licence along with proof of salary for 2 or 3 months’ time. Providing the customer has these details, is traceable over the last few years and hasn’t had any major problems very recently then there is no reason that they can’t drive away in the car of their choice. Once approved for the finance amount the customer will just pick a vehicle as they wold do normally and once happy with the car finance figures sign and return the agreement to process the funds transfer to the dealership. While not every case is accepted there are some factors that need to be carried put to increase the chances of it being quick and painless. They are; Electoral roll is something that many lenders refer to when wishing to see if the home address details provided are correct and it also gives confidence that the potential driver of the vehicle is honest and trustworthy – after all if someone appears to have evaded being registered to vote it could be that they want to avoid creditors from previous bad debts. Another area to keep an eye on is not to make any applications for Bad Credit Car Finance when something has very recently gone onto the credit file. The lender will see this an fear that they are still not dealing with their credit issues and so they are more likely to be declined.