Obtaining a bad credit car loan in Ireland

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Getting a new or used card loan with no or bad credit can be a difficult task in Ireland. Many of us go through life without any idea how good or bad our credit rating is or even without an idea that lenders and retailers have the facility to rate us and share information about us. The reality is that most purchases and financial transactions are recorded on computer and stored in Central Databases. If we purchase on credit, hire purchase or installments of any kind this is also recorded. Every loan or credit card transaction is also recorded. Now most of us already know this, but have no idea that when a payment is late or missed or an error is made on our account, that this fact is flagged and recorded also. However, minor the problem or error is, any kind of glitch in your repayment record can mean being rejected for a new or used car loan. This is a scary fact that most of us find out the hard way, after we are refused finance. Even for the most minor of offences or if the problem is corrected, you may have to wait up to 5 years to have your financial record clean and clear again. If your credit is poor, bad or you just have no credit, talk to your local financial institution to discuss your best options to get financed for a new or used automobile.

Please note: At this time we are unaware of any car loan lenders that will approve people with bad credit. If you know of any lenders that accept a less then perfect credit rating in Ireland, please email us a help@consumerbadcreditguide.com.