Does my bad credit have to mean no credit at all?

Over time, getting a bad or low credit rating can seriously limit your ability to borrow money. Many financial lenders insist on an excellent, or at least good, credit score before they'll even look at your application for a loan, mortgage or credit card. But having a bad credit score doesn't have to mean no credit at all.

Once you get credit and providing you don't run up vast amounts of unsecured debt, credit will always be available to you. And, the more you borrow (and pay back successfully), the more your credit score will build, showing lenders you're a trusted and creditworthy customer. It all makes it much easier to borrow money for years to come.

But, if you come unstuck and run into financial difficulties for any reason, your credit score will quickly decrease, leaving you with few options to borrow. And once you get a bad credit rating, all lenders will quickly know about it, making it increasingly difficult to get credit or finance anywhere.

The credit process

It can take several years to build up a good or excellent credit rating and it all goes on behind the scenes without really knowing about it. Because of that, there are very few people who don't have some form of credit. If you have a mobile phone (unless it's a pay-as-you-go), a mail order catalogue account, a car loan, or a mortgage, then you're creditworthy.

Whenever you apply for any form of credit, no matter how insignificant it may seem, the majority of lenders and retailers will check you and your details with one or more of the three main UK credit reference agencies: CallCredit, Equifax, and Experian.

They rely on these agencies to give them the information they need to make a decision about whether or not to give you credit. This can be:

  • Whether or not you're on the electoral register
  • Your current and past addresses
  • Any past or current credit agreements (including how much you owe and agreement history)
  • Any defaults, missed or non-payments, bankruptcies or CCJs against you

If you have a good score with no flags on your credit history or any of your current agreements, then getting new credit should be a formality. If one or more of these issues are flagged, like any of the above listed, the likelihood is that you'll get refused.

it's worth remembering that none of the credit agencies themselves makes a decision on whether you should or shouldn't get credit - that decision is down to the lender alone. Some lenders may still be willing to give you credit at their discretion. If the default was a reasonably long time ago and your score has been good ever since, the lender might still consider you but are at liberty to alter their terms, which may include a higher interest rate or similar penalty.

All this information will be recorded and shown on your credit record, which all credit reference agencies can see. At a time when lenders are being more and more selective about who they lend to, the more they rely on the agencies to make an informed decision. Any of these defaults make it harder, or near impossible, to get any kind of credit, so responsible borrowing and regular and full repayments are vitally important to your ongoing creditworthiness.

Unfortunately, many people find themselves in financial difficulties, sometimes through no fault of their own. Getting into a spiral of growing debt only makes things worse and often results in a bad rating with no credit at all, all of which makes it harder to get out of trouble. So if you find yourself being refused credit, what are your options?

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A long recovery

You can start by taking the long and slow option of gradually building your credit score back up over the years. Regular banking of wages and getting a debit card is a good sign of progress. Also, being accepted for a mobile phone contract will build up your credit rating significantly. It shows you're making regular payments via a direct debit from a permanent bank account.

It's all worthwhile, but of course, takes time. But there will be occasions where you need an injection of cash to cover an emergency, or to help with medical, dental or other costs. And those are the times that having no credit can really hit hard.

While there are plenty of options around for borrowing, the majority of lenders require formal credit checks which will greatly threaten your chances of being accepted. But there is one lender who requires no formal credit checks, allowing you to borrow within your means and make regular repayments.

 

No credit checks required

CarCashPoint offers a totally transparent and flexible loan that helps thousands of customers release the cash from their own car. A logbook loan from CarCashPoint means your loan is secured against your car. So as long as you're the legal owner, have no outstanding finance related to it, and can produce your V5 document (or 'logbook') to prove ownership, then you're well on your way to getting the money you need.

As well as having no hidden fees or charges, no penalties for settling your loan early, and the ability to make overpayments if you're able to, CarCashPoint also offer you a fair rate of interest, almost half that of other logbook loan lenders. You can even choose your repayment options - weekly, fortnightly, four-weekly or monthly - to suit your own income and financial circumstances.

CarCashPoint is the only UK logbook loan provider who does not require any formal credit checks. Your loan application won't appear on your credit record and will, therefore, remain totally private. And what's more, you'll get your loan money on the same day - usually in under 1 hour!

If you're experiencing credit problems and are finding it difficult to raise the funds you need, call one of the trusted CarCashPoint experts today on 0333 220 4581 to see how they can help you or apply online.

Get the home improvement wow factor with a logbook loan

Getting to grips with some much-needed home improvements can do wonders for turning a tired or outdated room into an inviting, usable living space. And, depending on your plans for a transformation, a logbook loan could help give you the wow factor you're after.

There's a bit of a trend happening with home improvements at the moment. Not so long ago,  homeowners would choose to sell up and move to a new, larger house to accommodate their growing families and busy lifestyles. Now, thanks to the housing market, it's far more likely that they'll stay put to breathe new life into the current family home.

From a simple declutter and freshening up of a room, to brand new family spaces that extend out into the garden. Staying put can give you the opportunity to transform your home, giving you the look you want or the space you need. But while you're saving yourself the upheaval of moving as well as the costs involved, you still have to find funds to get the home improvements you want.

There are several ways to raise the money you need. Depending on what you want to achieve, you could use some of your savings to get started. But if you don't have savings or you need extra to help to get the look or extra space you need, a logbook loan for your home improvements is a great option to look into.

 

Home is where the heart is

Your house isn't just a bricks and mortar property that gives you a roof over your head. It's a place where memories are made, with good times and sad times shared with family and friends over many years. A place you'll always call home. So why shouldn't you give it the makeover it deserves?

Everything you do can add an injection of style, functionality, space, and even value, to your home when you're finished. There are dozens of ideas and ways to make your home improvement vision become a reality, and a Car Cash Point logbook loan will help you achieve them. Here are a few of our own ideas to give you some inspiration.

 

A one-room makeover

Even giving a room a fresh lick of paint can be enough to revitalise it. But why not mix things up by integrating a feature wall? This works well for living areas or bedrooms where softer pastel colours can be matched with a bold, striking colour to add real impact. Adding a few finishing touches such as new lamps, colour coordinated cushions, throws or wall art can also have a big effect.

 

Light your fire

With homeowners continually looking at ways to reduce their carbon footprint and be more environmentally friendly, installing a woodburning stove is a perfect answer. Not only do you get a carbon neutral form of heating, but certain stoves can be installed to heat your water and radiators too. With a huge choice of styles and heat outputs to suit your home, a stove can be a real statement piece.

 

Living it up

When living space is at a premium, it always pays to go higher. If you've got kids, by using the premium loft space above you, you can give yourself a whole new bedroom. A relatively straightforward job for experienced tradesmen, this could be at the upper end of your budget. But it will increase the value of your home and can look amazing - especially if you're able to go all the way and add an en-suite too!

 

Let's take it outside

Having the perfect outdoor entertaining space can almost feel like having an extra room - just outside! There's so much you can do to turn your garden into an inviting and usable area. Think about how decking and a seating area could transform your tired patio into a comfortable and relaxing sun trap. You could even have a chiminea to take the twilight chill off those long summer evenings.

 

Extend and expand

If you want to go large, you could transform your ground floor into an open plan paradise. Extending into the garden can give you the ideal indoor space to entertain, as well as giving you a bigger, well-proportioned kitchen. This would be a major undertaking requiring planning permission, architects, builders and a lot of red tape. But the result would see a huge increase in space, opening it up and turning it into a modern and stylish living area.

 

Love your home again

Any DIY, especially anything structural, can be costly depending on what you want to do. But a logbook loan for any home improvements can take a lot of the financial pressure off, helping you complete your transformation in one go. So what's involved?

Taking a Car Cash Point logbook loan was designed to be easy. If you have a car and you own it outright with no outstanding finance, that's all you need to get started. By speaking with our customer service team, our award-winning advisors can talk you through the entire process.

Being one of the UK's best value logbook loan lenders, Car Cash Point prides itself on offering everyone a transparent and flexible loan. We use plain English without any jargon and always make sure you're completely happy with all the terms and conditions of your loan before you sign.

We're also totally open and honest about any potential fees that could be incurred - so no hidden charges! Plus Car Cash Point is the only UK logbook loan lender who doesn't require any formal credit checks. So if you have limited credit or have had any issues in the past, we should still be able to help you.

We'll also never lend you more than you can realistically afford to pay back. But with a range of loans available from £500 up to £100,000, there's a logbook loan that's just right for your home improvement project, all with flexible repayment terms.

To apply and get your loan in one hour, give Car Cash Point a call today on 0330 057 8614 or Apply Now instead of listing your home, you can love it again!

 

Could a Logbook loan help to pay for your special occasion?

From birthdays and graduations to anniversaries or retirements, we love a good get together to celebrate with friends and family. And the bigger the celebration, the more it's likely to cost to plan an event to remember. So rather than scaling it down, could a logbook loan help to pay for your special occasion?

When it comes to special occasions, we all love to celebrate. And it doesn't matter what the occasion is either. So whether it's a full-blown party that goes on into the small hours, an afternoon gathering with prosecco and canapés, a luxury evening meal for a chosen few, or even a romantic luxury holiday for two, you'll want to mark your event in style.

Whatever you choose for your special occasion, it's natural to want to have the biggest and the best event to commemorate the special day or event. But because you want it to be special, not only for you but for any guests as well, before too long, you could see your plans and budget starting to snowball.

 

Life and soul of the party

Long since the basis of any celebration, a party can be as big or as small as you like. But if you have a 'special' birthday in the pipeline, such as an 18th or 21st (or older), or maybe even a graduation party for your son or daughter as they finish their degree, then pushing the boat out will make sure your guests - and the guest of honour - go home happy.

Remember, the younger the demographic, potentially, the more guests you'll have, so hiring a suitable venue should be your first priority. You could hire a club to set aside a 'VIP' area for you, or perhaps use a function room in a favourite pub or hotel. Whichever you choose, it's likely you'll need to book it well in advance, as well as laying down a healthy deposit.

Food and drink shouldn't be overlooked either. Will the venue cater to your guests? Depending on the party, you could opt for finger food and nibbles, or go a step further and lay on a buffet. Again, expect a considerable cost from the venue if they are supplying any of the food. There's also the option of using outside caterers, but they'll also charge accordingly.

But more importantly, what about the drinks? You could limit this to one free drink on arrival with a paid bar thereafter. That way, at least you can budget for this by looking at the number of guests. But if you really want to make a good impression, you could opt for a free bar. The free bar option is a brave move and you could end up with a bar tab that runs into the thousands.

Once you add up the numbers for venue, food and drinks, you could see costs start to rise sharply. And there may be other costs to consider as well, such as a DJ for the night, special lighting or decorations. So getting a helping hand with the finances could start to look quite appealing. And a logbook loan to pay for your special occasion could be an easy and quick solution.

 

Once-in-a-lifetime holidays

Everyone loves to go on holiday and, if finances are available, many people try to go on a sunshine break at least once a year. But, sometimes a little thing called life gets in the way and getting away from it all isn't always as easy as it should be. That's why a once-in-a-lifetime holiday for a special occasion can make it all the more special.

If you've got a special wedding anniversary on the horizon, want to celebrate your retirement, or maybe you just want to pay for one big family get together, then planning a holiday like no other can tick a lot of boxes for everyone. But it's usually anniversaries that get earmarked for special treatment. And rightly so - especially the 'big ones'.

So what could you do that makes a special holiday different from the rest? Start by looking further afield. You might have been on a bucket and spade holiday to somewhere in the Med a few times before, so if sun, sea and sand are for you, why not look into luxury romantic getaways to the Maldives or the Seychelles? Perhaps you might be looking to experience as many cities and destinations as possible, in which case a luxury cruise could be a good choice.

Whichever holiday you choose, that once-in-a-lifetime experience and touch of luxury could cost a bit more than you imagined. But special occasions deserve special recognition, and holidaying in a new and relaxing place is the perfect way to celebrate.

But for many, taking them off for a significant anniversary to experience a romantic getaway isn't always achievable. Flights, accommodation and spending money all add up, making it seem all but impossible to achieve. That's where a logbook loan from Car Cash Point can help give you the extra finance you need.

 

A dream wedding

However, surely the most special occasion for anyone is a dream wedding. Brides-to-be will have been planning this for many years beforehand, and it's one of the biggest days of their life. But there's a lot to prepare for, and carrying off that perfect wedding will take some financial backing.

You could be forgiven for thinking that prices automatically seem to go up for anything to do with a wedding. But in reality, you simply get charged for an expert service. Whether its the flowers, photography, wedding cars or venue hire, getting the best usually comes at a price. But can you afford not to?

A wedding photographer can cost around £1500 and upwards depending on your location and their skills. But it's a small price to pay for professional photography services and tangible memories that you'll look back on for years to come. Getting another, cheaper, a less experienced photographer might save you money in the short term, but the results won't be as good. Why risk it?

And it's the same for the many pieces that go together to make any wedding day a day to remember.

From wedding favours for the guests, and gifts for the bridesmaids and best man, right down to your reception and everything that goes with it. It's the one day where everything needs to be perfect and you don't want that one 'could've, should've, would've' regret to niggle you for years to come.

But though it's traditional for the Bride's family to pay for the complete wedding, it could be a financial gap that might not be able to be bridged without some additional help. But with a logbook loan, there won't be any need to scrimp and save.

 

The low-cost logbook loan answer

With any luck, you might have some savings put aside to help you. Even if you do have a rainy day fund you can dip into, it might not be enough to cover your special occasion. But if you haven't got any savings to fall back on, there's no reason why you should go without when there are options available to you for borrowing what you need.

A logbook loan can help towards the cost of your special occasion or perhaps even pay for it outright. It's an ideal, low-cost way to help you celebrate in style. And Car Cash Point is ideally suited to let you borrow what you need, quickly, efficiently and safely.

 

How does it work?

Car Cash Point logbook loans are based on using any car you own as security against the loan. So you could borrow any amount from £500 up to £100,000 depending on the market value of your car and your ability to afford the regular repayments. All you need to get started is your vehicle logbook (V5 document).

With absolutely no hidden charges or fees, Car Cash Point always make sure all the information about your loan, together with any potential extra charges, is made crystal clear before you apply. And in jargon-free plain English too. There's also a really fair rate of interest on each loan, often less than half that of some other logbook loan lenders.

There are no penalties for wanting to end your loan early if you're able to, and no penalties for making overpayments, and the interest is reduced on the remaining balance every time you do. Plus, there are no credit checks, so even if you have a patchy credit history, you should still be able to get a loan. There's even a range of flexible repayment terms that will fit the way you receive your income too.

If you live in England, Wales or Northern Ireland, are the legal owner of your car (with no finance attached to it), and it's taxed with fully comprehensive insurance cover, then by calling 0333 220 4236 you could start your application today.

For a logbook lender, you can trust, get in touch with Car Cash Point today and get a logbook loan to pay for your special occasion. Apply Now

 

Can I get an extra top up on my log book loan?

If you're coming to the end of your loan repayments, you could be in a great position to top up your logbook loan if you want, or need, too. Having a logbook loan can help you in lots of different ways - and getting a top up could be a lifesaver in an emergency or another bonus towards a family holiday or treat.

One of the great advantages of any logbook loan is its simplicity -, especially with Car Cash Point. With no credit checks, low-interest rates and no hidden fees or charges, the whole process, including your application, is easy. And we've made it that way for you because we want everything to be in plain English, so there's no jargon and nothing hidden in any small print.

So how does the log book loan top up work?

In order to get a top up logbook loan, you'll need to have taken out a logbook loan with Car Cash Point already. If you have, you'll know all the ins and outs and the benefits that come with it. If you haven't yet applied, keep reading for how to get your funds in under an hour.

However, if you think you need some additional funds for something as you come to the end of your existing loan, you may well be eligible to renew or top up your log book loan with us. While we'll always look at this for our customers, your top up could depend on a couple of things.

We always try to help our customers with a log book loan right from your very first application. So a successful top-up could be based on whether you've kept up to date with your current repayments for an acceptable length of time. If you have, you might well have become one of our long-term, dependable and trustworthy customers.

Making sure of that will always work in your favour of course. But for a successful top up loan with Car Cash Point, we might need to see that you're still able to afford and make your new repayments. In effect, a top-up will be a new loan, so, much like your original loan with us, we'll look at repayment terms that suit your own financial circumstances.

If you are a long-standing and reliable customer, you could be in a great position to top up and continue in taking advantage of one of the best value log book loans in the UK.

A plain-speaking loan

Before you can take out a top up logbook loan with us, of course, you'll need to have an original logbook loan through Car Cash Point. Taking out a loan with us is really simple and only really relies on a few factors, with the main one being that you own your car outright and it's free of any finance.

Car Cash Point can give you a fast and simple loan based on the value of your car and help you withdraw the cash easily, allowing you the money you need when you need it. With a straightforward application, our award-winning customer service team will take you through the entire process, giving you the time to understand how everything works.

We pride ourselves on using plain English, so we always explain the process to you in full, without any jargon. Many log book loan lenders won't take the time to do this and will hide important information in their small print. By doing that, you could find unexpected costs being added to your account. At Car Cash Point, we have no hidden charges, so you know in advance exactly what you'll be paying back. You should never use any lender that makes their money from unexplained hidden fees and charges.

No credit checks and flexible terms

Car Cash Point are one of the UK's leading log book loan lenders and we have a great, fixed low-interest rate. Some lenders have a rate that's almost double, so it's clear right from the start that you're getting a great deal. And another area that we pride ourselves on is that we're the only UK logbook loan lender that does not require a formal credit check.

By taking a log book loan with Car Cash Point, your loan will remain private. No one else needs to know as we don't require any guarantors and your application won't appear on your credit file. Having a bad or low credit score can work against many people and leaves them unable to borrow at all, so by not needing credit checks, Car Cash Point should still be able to help you.

We also recognise that people have different jobs that pay in different ways. That's why we're the only UK lender that offers you flexible terms of weekly, fortnightly, four-weekly or monthly repayments that genuinely suit your own incomings and outgoings. Because we offer this, you should never have to accept a repayment term from a lender that will put you in financial difficulty.

Your money in one hour

When you're looking at your logbook loan, you should really consider all the options available to you and choose a lender you can trust, as well as one that puts your interests first, rather than their own. At Car Cash Point, we believe that we do that and our thousands of satisfied customers would agree.

So whether you're looking to get a top up logbook loan or are a first-time borrower, call one of our expert advisors today on 0330 057 8796 and let them guide you through the process. They'll call you straight back and arrange for one of our specialist reps to visit you, check the details of your car and finalise your paperwork. Alternatively, apply here and fill in our 30-second application form on the page.

You could have your loan money in your bank account within just one hour!

 

A Log Book Loan Gives You The Affordability You Need

The recent downturns in the economy have left thousands of people finding it more difficult to borrow money. As banks and other traditional forms of borrowing have become more strict with their lending policies, people are looking for other ways to borrow, and logbook loans are fast becoming one of the most popular. So, compared to a standard bank loan, could a logbook loan offer the affordability you need?

Continue reading "A Log Book Loan Gives You The Affordability You Need"

Are Logbook Lenders Any Good? 5 Ways You Can Be Certain

Over the years, logbook lenders and their own brand of quick and easy loans have been under considerable scrutiny. Coming under heavy fire from disgruntled former customers as well as the Financial Services Authority (FSA) in that time, logbook loans have had their fair share of bad press. So just what did logbook lenders do to get the country so riled up?

Continue reading "Are Logbook Lenders Any Good? 5 Ways You Can Be Certain"