Finance Q&A - Credit Status

What is subprime car finance?

Could you please tell me more about what Subprime Car Finance is, please?

Jess Travis

Answer from the Stoneacre finance team:

Hi Jess, great question. When you enter in to any financial agreements such as store cards, loans and mobile phone contracts, you start to build up a credit history which is recorded by at least one of the UK's credit reference agencies such as Experian and Equifax. Subprime car finance refers to people who have a less than perfect credit history caused by late payments, CCJs and/or bankruptcy. We specialise in this type of finance and work with some of the UK's largest subprime car finance lenders. Additionally, an initial application with us won't affect your credit rating. Hope this answers your question.