A credit score, sometimes referred to as a credit rating, is a number given to you to show how good you are at repaying debts and keeping up with your bills. The bigger the score you have, the more confident lenders will be to offer you finance. A higher score can help you get accepted for finance and at better rates.
Your individual score is calculated using a variety of factors, including your borrowing history, your current borrowing and other information about yourself including your income.
How can I check my Credit Score?
Motorly has partnered with Experian, who can offer you a free credit check today.
By checking your credit report, you can keep on top of your financial position and know where you stand when you apply for credit.
How can I improve my credit score?
Register on the electoral roll: Adding your name to the electoral roll is one of the easiest ways to improve your score.
Make sure you pay your bills on time: Too many missed payments will quickly damage your credit score. By keeping up with your payments, you are showing potential lenders that you are reliable when paying your debts.
Check your credit report for fraudulent activity: If you see something that is wrong, such as a credit application that you didn’t make, you could be the victim of identity fraud. By regularly checking your credit report, you can keep on top of any issues.
Can I still get car finance if I have a bad credit rating?
Motorly has a panel of lenders that cater to those whose credit scores are not perfect. If you have bad credit, and you are looking to buy a new car, or if other lenders have rejected your application, Motorly may still be able to help you
Even though having a poor credit rating may limit the options available to you, the great news is that it’s still possible to get a car finance application accepted with a fair to poor credit rating.
Motorly has a panel of lenders that cater to those whose credit scores are not perfect. If you have bad credit, and you are looking to buy a new car, or if other lenders have rejected your application, Motorly may still be able to help you get a car finance deal that is right for you. Motorly are specialists in helping customers with bad credit rating to get car finance.
Salary: c£20,000 upwards (depending on experience) plus bonus
Are you an ambitious and highly diligent Administrator looking for your next challenge?
Do you like rolling up your sleeves, and agree with putting the customer at the heart of everything?
We can offer you a fantastic opportunity in a fast-paced, challenging and fun environment.
About Motorly
We believe that the car buying process still kind of stinks, it is not unusual to sit in a dealership completing paperwork for a couple of hours even if you’re a cash buyer, never mind needing finance.
The car finance industry hasn’t really seen a lot of innovation, And let’s face it…there’s nothing sexy about Car Finance, It’s essentially been the same product for 40+ years.
We’ve realised that a person shopping for a car isn’t necessarily shopping for a loan. So, we focus instead on improving the experience around car Finance before a customer ever gets to that stage of the buying process.
Allowing technology to do the heavy lifting with our lenders allows us to offer pre-approved loans, so the customer can really focus on the shopping experience.
We really work to complete the entire process, and the loan only comes at the end, We assume if we do a good job bringing the customer through the process, we’ll get there.
#wearemotorly
Supporting the Sales Team, your responsibilities would include ;
Liaising with customers, dealers and lenders to ensure quick turnaround times on all applications to payout, making sure that you are positively affecting outcomes for all parties.
Ensuring that paperwork and documentation is complete, accurate and in order and that all relevant details meet the exacting standards of our lenders.
Working to targets in a fast-paced yet fun sales environment.
Able to manage own time, and workload to make sure that key touch points are met with all customers both internal and external.
Adhering to anti-money laundering and other relevant financial legislation.
Helping to prevent and minimise the risk of fraud and financial loss.
In part one of our series on smart motorways, we explained how smart motorways work and the technology behind now. In part 2, we go into the issues with them and what the UK government is doing about it.
Smart Motorways, the stretches of road that utilises the latest technology to regulate traffic flow, have been built to ease traffic congestion across the UK motorway system. However, these changes have often resulted in a key motorway safety feature – the hard shoulder.
So our smart motorways really as dangerous as what their critics suggest? And what, if anything, should be done about it?
What are the risks of smart motorways?
The removal of a permanent hard shoulder has been linked to deaths on smart motorways in recent years. In 2019 during an interview, the government told BBC Panorama that 38 people had died on smart motorways since they were introduced in 2014.
The government have faced growing criticism on this subject. The removal of the hard shoulder has led to motorists being trapped in a ‘live’ lane by speeding traffic in the event of a breakdown or other emergency.
This has led to a five-year pause in the rollout of further smart motorways whilst the Government reviews the current situation.
A recent YouGov Poll has highlighted the concerns that motorists have with the rollout of Smart Motorways. A shocking 64% of people asked thought that they were less safe than motorways with hard shoulders. That figure rose to an astonishing 82% amongst people over 65.
What is the UK Government doing about it?
The UK government is pausing the smart motorway rollout for five years to allow them to gather more safety data on the existing stretches of smart motorways that have already been built.
Highways England will also be investing close to one billion pounds to improve safety on the stretches of smart motorways that have already been built. Of that, £390 million will be used to add more emergency refuge areas.
This investment should lead to a 50% increase in areas to stop on smart motorways by 2025.
The Government plans on making a decision on smart motorways once all the data has been assessed.
Why were smart motorways originally introduced?
Traffic congestion is a growing problem in the UK that smart motorways aim to tackle.
Widening motorway sections is an expensive undertaking. Smart motorways offer a cheaper solution by using a feature that is already built – the hard shoulder.
What is a smart motorway?
Smart Motorways are a stretch of motorway that uses the latest in traffic flow technology. To control traffic flow with the ultimate aim of easing congestion on the roads of the UK.
By utilizing the latest developments in Tech, Smart motorways can actively manage congestion on the motorway and optimise how the Motorway is used by road users.
Smart Motorways were as developed by Highways England to manage Britain’s congested roads to minimise the environmental impact and cost of building additional lanes.
The methods used include using the hard shoulder as an extra lane for traffic and introducing variable speed limits to control traffic flow on motorways.
How do Smart Motorways work?
With many miles of smart motorways already built in the UK, it’s imperative that motorists understand how they work and how to use them.
The main type of Smart Motorway in the UK is what is referred to as ‘All Lane running’
This refers to when the hard shoulder is removed and converted into a running lane. In these instances, the left-hand lane, which was the hard shoulder, is only closed to traffic in the event of an accident on the motorway.
If more lanes of the motorway are required to be closed, they will be marked by a red x on an overhead gantry. This signals that you must exit the lane as soon as possible.
Ignoring the ‘red X’ sign is extremely dangerous and is against the law.
The signage is also used to show the speed limit, which is variable depending on traffic and road conditions. If a speed limit is not displayed, the national speed limit will be in place.
The speed limits are enforced with speed cameras. If the speed is reduced, there is a slight lag between when the speed limit is updated and when the speed cameras will begin to enforce the new speed limit. A specific time for this to happen isn’t given for each camera, but it can happen in as little as ten seconds.
Smart Motorways rely on CCTV to monitor traffic for any incidents.
In the event of a breakdown or accident, motorists can use the Emergency Refuge Areas (ERAs), that are situated on the left side of the motorway. The average spacing of these ERAs is 1.5 miles apart.
What are the benefits of Smart Motorways?
According to Highways England, the stats show that since the first smart motorway opened in 2006 journey reliability has improved by 22% and personal injuries have reduced by more than half.
However, many motorists still feel unsafe on smart motorways.
What are the issues with Smart Motorways?
Many UK motorists are concerned that smart motorways are far more dangerous than the traditional motorway setup, because of the lack of a hard shoulder.
Campaign groups have been drumming up support to improve safety on ‘all running smart motorways sections where the hard shoulder is turned into a permanent lane.
To counteract this criticism, Highways England has run UK wide campaigns to educate drivers on how they should use smart motorways.
Motorly is proud to announce the launch My Motorly, a customer-focused car search platform that will enable the company to assist UK Motorists ever further in the car-buying journey.
Visitors to the platform will find a comprehensive selection of used cars to choose from. Whether you know exactly which make or model you are after or are unsure what you are after, Motorly can help.
As well as the extensive Car Search Platform, My Motorly also offers:
Request quotes on the car you are interested in.
Wish list feature to create a shortlist of cars to narrow down your car search
Online Chat enables you to speak directly to our Expert Sales agents
Secure file transfer to send files securely
Justin Cottrell, Founder and Director of Motorly stated ‘As the company steps in 2022, we are always looking for new and innovative ways to improve the level of service we offer to our customers ’.
‘My Motorly is the next step in the evolution of Motorly, allowing us grow the digital journey of the car buying process.’
‘The launch of our Car Search Platform will enable us to help UK Motorists find their dream car and get the finance they need’.
The process for applying for car finance when you have bad credit is much the same as if you had good credit. The main difference will be the number of lenders willing to approve your application.
For those with bad credit, Motorly can simplify the process and find you the best deal from our panel of lenders that suits your circumstances.
The first step is to make use of our car finance calculator, as this will give you an idea of your monthly repayments depending on the repayment period you select.
Once you know how much you want to borrow, you can complete a quote and within minutes will find out if you have been pre-approved by one of our lenders. If you have been pre approved you will be assigned an account manager who will walk you through which lenders have approved you and help you compare the best deal. Your account manager will also take care of all the admin along the way.
You can now begin your car search with the knowledge your finance is in place. You can pick a car from any reputable dealer or speak with your account manager who can assist you in your car search.
Once you have found a car, all you need to do is provide your account manager with the details and they’ll take care of everything else from the paperwork, chasing the lender and ensuring the dealership receive the funds.
There is no minimum or maximum credit score that will determine you will definitely be accepted or rejected for car finance. If you feel your credit score is bad or requires some work we could still help you. At Motorly we work with a panel of lenders who are able to help people with varying credit backgrounds. From those with average & bad credit ratings to those with a history of CCJ’s, missed payments and we may even be able to help those who have been refused finance elsewhere.
What is a credit score? – A person’s credit score is one of the main factors a lender uses to find out use creditworthiness. Your score will usually be a 3 digit number and the higher the number the greater chance of having finance approved. Those with higher scores will usually benefit from a lower interest rate, as lenders associate higher scores with a lower risk of a person defaulting.As each lender has a different understanding of what’s a good score, there’s no set number that can guarantee you will be accepted or rejected for car finance. ers
How could I improve my credit score? – Your credit score isn’t a fixed number and can increase or decrease based on a multitude of factors. It should be notated there are no quick fixes, but there are steps you can take to ensure you maximise your score such as;
Paying your bills and existing credit commitments on time
Staying below your credit utilisation. Ideally using around 50% of your availabe credit.
Avoid making lots of credit applications at once. This can signal financial difficulty to lenders.
Ensure you are on the electoral roll
Although your credit score is important, some lenders on our panel place less importance on your score than others. So if you have recently been refused car finance we may still be able to help you. Apply online now and see if you’re pre-approved without impacting your credit score.
Worried that your credit rating will affect your ability to get approved for car finance? Don’t worry, you are not alone.
Whilst it can feel an uphill struggle to get a car finance loan with bad credit, the great news is that it’s not impossible. Having a good credit score does indeed give you a few more options when looking for a deal, but for those with bad credit, it’s still possible.
Despite what you may have heard, there isn’t a minimum credit rating needed to get approved for car finance. This means those with a fair to poor rating can still get the finance they need to get behind the wheels of a new car.
At Motorly, we are experts on Bad Credit Car Finance, assisting UK motorists to navigate the car finance landscape to find the right solution for them. Read on to find our top tips to help you get approved.
What to do before you apply for car finance
Your credit score is a prime factor that lenders take into account when deciding to approve you for a car finance loan.
Even thought having a bad credit rating can limit the options available to you, it is still possible to obtain the car finance loan you need.
Check your credit score today and see if you can improve it.
Checking your credit score is always a great idea, especially when you are considering taking on a new finance agreement. If you do check your credit score, it is possible to make changes and potentially increase your credit score. Improving your credit score may help you get approved for car finance on better terms and a lower rate of interest. A few ways to improve your score include:
Reduce debts as much as possible
Reducing your credit utilisation (the amount of credit you are currently using versus the total level of credit currently available to you) can help improve your credit score. Reducing your credit utilisation to below 30% can help you get approved for more affordable rates.
Ensure all bills are paid on time
A great payment history will increase your credit score. Ensure all bills are paid on time. Make sure no accounts have been left in arrears.
Decide how much you can afford the monthly payments to be
When looking to buy a new car, it’s vital that you consider how much the monthly repayments will be. This will factor into what car will be suitable for you. You don’t want to find the ideal car only to find out the payments are too high for your budget.
Also, don’t forget to factor in other costs such as tax, insurance, and maintenance charges.
Get pre-approved for car finance
Not sure if your car finance application will be accepted? If you’ve got a poor credit rating the best course of action is to get a pre-approval before shopping for cars. By ensuring that you can get a car finance loan, you can walk into the showroom with your finance already in place – no need to worry if you will be accepted for your dream car
Motorly are the Bad Credit Car Finance experts and can help you every step of the way to get approved.
Shopping for a new car can sometimes be a challenging process, especially if your personal circumstances could get in the way of you obtaining the car that you want. A bad credit history can affect your eligibility for securing car finance, as well as other factors such as being in an IVA or having CCJs against your name.
If you have had issues with your finances in the past, it is possible that you are currently in a Debt Management Plan (DMP), which can often lead to problems obtaining the car finance you need.
At Motorly, we specialise in helping people get behind the wheel of a new car, whatever their credit history. Whilst being in a Debt Management Plan will mean that you have a few more actions to take to get finance, we can help you every step of the way.
What is a Debt Management Plan?
A Debt Management Plan (DMP), is a program put in place by a DMP provider to help you manage and control your debts in a way that is both responsible and manageable. Debt Management Plans can be a suitable route to take for those with the following debts:
Overdraft debts
Store cards and credit cards
Personal Loans
Catalogues and in-store credit debts
A debt management plan cannot help with certain ‘priority debts’ such as:
Council tax bills
Gas and electricity utility bills
Child support and maintenance costs
Income tax bills
National Insurance
VAT bills
Mortgage and rent arrears
Court fines and charges
Essential hire purchases
Your debt consultant will organise your Debt Management Plan to ensure that you start to reduce the debt you owe in the most efficient way. Each month, you will pay a fee to the Debt Management Plan provider, who will then pay the money to your creditors on your behalf. In doing so, your plan provider will assist you in keeping track of your obligations and stop you from spending your money irresponsibly.
Is it possible to get Car Finance when I am under a Debt Management Plan?
If you are currently in a debt management plan, it can be hard to make new purchases. This is because your Debt Management Provider will be stringent when deciding what new expenditure you are allowed to take on. This is particularly true when it comes to purchasing a new car.
However, it is still possible to get a car finance agreement approved when you are in a DMP. You will need to show that your new car is an essential purchase (such as being able to get to work), and also show that the vehicle is affordable within your agreed budget, without having an impact on your existing debt agreements.
When your Debt Management Provider is checking to see if your car is a necessity purchase, they will consider the following:
Do you care for a vulnerable or elderly person? If you take care of a relative who is elderly or vulnerable, you will likely need the car for shopping trips and journeys to the doctor etc. Your DMP will likely accept that the car is required in this case.
Do you have any health problems or issues? If you have a health condition that affects your ability to travel, your DMP could decide that your car is a necessity.
Are you a parent or guardian? The school run is a major use of the car for many people. Your DMP provider will usually agree that a car is required in these instances.
How long is your commute to work? The daily commute to your place of work is likely to be the biggest reason for needing a car. Simply put, if you can’t get to work you aren’t able to earn money. Your DMP provider will typically agree that you require a car in these circumstances.
Can you afford the car payments?
The most important factor you need to consider when looking into car finance is whether you can afford to pay the payments constantly for the lifetime of the contract. By taking out a car finance agreement, this debt will be added to the plan that your provider is managing.
The Motorly team can help you understand how the process works, help you find a suitable car for your budget and perform a credit check.
Are you eligible for car finance?
If you are currently in a Debt Management Plan, you are likely to have a lower credit score. This is due to the level of debt you currently have, along with the fact that a DMP is in place, showing up on your credit file. However, whilst it can make it harder to get car finance, it is still possible to get an agreement that is suitable for your circumstances.
Motorly is a specialist at finding car finance solutions for those with fair to poor credit scores, including those in an IVA or Debt Management Plan. We offer bad credit car finance and debt management car finance plans that enable people just like you to get behind the wheels of a new car.
Would a bad credit car finance deal be right for you?
If you currently have a bad credit score, it’s still possible to find a finance deal that is right for your needs. Motorly has a wealth of experience in helping those with bad credit find the perfect finance solution for their needs.
