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Applying for car finance or a car loan isn't quite like applying for a job - but perhaps it ought to be. When you apply for a job you have the opportunity to sell yourself, to make the best of yourself and to present the positive side of your current situation and of your experience. Should you pass the initial application then you'll be granted the opportunity to sell yourself in person, discussing your situation, your plans and your past. It is on this rounded picture that a decision is made whether or not to offer you the job. Of course, you also get the same opportunity to ask questions and to make a decision on whether or not you'd feel happy with the company and would accept the position if it was offered to you. However, car finance or getting a car loan is quite different, and it seems harder to obtain cheap car finance than it is to get a job - which might seem odd on the face of it. When it comes to applying for car credit finance you get no opportunity to sell yourself, no chance to present the positive side of your situation and no opportunity to discuss your current circumstances or to shed any light on your past. Instead all that is taken note of are the basic details such as your name, date of birth and address, and the stark figures contained within your credit history. The decision is based almost exclusively on your credit history or credit record, giving you no chance to properly explain yourself, to add information, justify an issue or shed a little light on how things have changed. This can often prove to be deeply frustrating, because no matter how hard we try almost all of us experience a slight hiccough occasionally, frequently through no fault of our own. Perhaps we were made redundant very suddenly, or the business collapsed without warning and we found ourselves out of work with no pay and no safety net. Perhaps a serious family illness required an additional sum of money to be spent, or any one of many other situations which could result in a credit card bill being considered rather less important than putting food on the table. But the trouble is that once such a situation has occurred it is indelibly written into our credit records, there to remain for several years and there's nothing we can do about it. A credit record makes no distinction between someone who simply refused to pay credit bills or loans because they couldn't be bothered, or lied about their income, and those who are entirely genuine but who experienced an issue at some point over the past year or two. If we had to apply for a job based only on the equivalent of a credit record, I wonder just how many of us would find employment ever again? So when it comes to finding car finance or getting car loans we have to rely on someone else doing the talking - someone else selling us, but putting very little effort into it, and making sure that all the bad information is made very stark and clear, whilst the good information is simply there to be found if required. Most car finance firms are looking for the bad news, the warnings, the risks, and basing decisions on these aspects rather than on the positives. Car finance is all about risk, and with the recession still very much in evidence, many credit firms are simply not willing to take risks. But there are a few things that you can do. The first thing is to add a little information to your credit record yourself. Not many people know you can do this, but if there's a black spot on your file you can write to the credit reference agency and ask for a note to be added which might explain the situation and shed a little light on it, putting it into context and helping support your case. Any car finance firm or car loan company which carries out a credit check will be legally forced to read these notes and carry out the credit check manually if such notes exist. The second thing to try is to apply to a firm offering guaranteed car finance, and who pay more attention to your current circumstances than the somewhat misleading CV that is your credit history. By choosing a car finance firm that offers cheap car finance and the freedom for you to choose any car from any dealer in the UK you may well find that you're able to break free of your history and start moving forwards once again.
Article Source: http://kawarthapublishing.com
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