Can I apply for car finance if I have a default?

Help & Advice

If you have a default recorded against you, it may help your chances of approval, when applying for new credit, by adding a ‘notice of correction’, to your credit file. This is a statement of up to 200 words in which you can offer an explanation as to why this happened. Lenders will review this in determining whether to accept your credit application.

With a default recorded we also recommend making contact with the lender in question and make the effort to pay them off, no matter how small a contribution you can make per month. By reducing or satisfying your default balances you will be viewed more favourably by a potential lender.

If you’re worried about your current credit score, we’d recommend gaining access to your report. Clear Score offers access to your score and report for free.

Want some more advice? Why not read our blog on improving your credit score here.

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