Increased Traffic For Car Finance Web Site Specializing In Bad Credit Buyers

MSG is an independent finance brokerage in the UK that specializes in the subprime market. This company has reported increased traffic to its Web site in recent months. As car buyers are turned away by dealerships, finance companies, and mainstream lenders, they look to MSG for car finance.

The company has also seen an increase in car leasing within the UK.

Many UK consumers are finding it difficult to obtain financing for big-ticket purchases due to the faltering economy. Others are thinking twice about large investments like an automobile. Cars feature a short depreciation timeline and relatively no return on investment. As a result, car leasing is becoming more popular.

Through its relationships specialty finance houses, MSG can provide car loans or guaranteed car finance to individuals who have been denied elsewhere. Automobile financial products available include non status contract hire and bad credit car finance.

These, plus guaranteed finance, feature a 36 or 48 month term with an option to extend the term to 60 months and retain the automobile at the end of the deal.

Buyers supply identifying, banking, and income information on a proposal form. A funder informs MSG if it can provide the car of choice and determines the loan amount. MSG confirms car specifications and monthly payment with the buyer and the finance agreement is then signed.

Prior to vehicle delivery, the buyer provides an initial payment of about four times the monthly payment.

A non status contract hire situation occurs when the finance company underwriting the deal looks only at the financial situation of the buyer, not an electronic application. In order to get car financing, non prime customers must have a UK driver’s license or passport and two months of bank statements or paystubs.

They must also provide documentation in the form of previous financing agreements or Voter rolls.