Bad credit car finance borrowers take further blows

Wed, 23 Apr 2008



As if adverse credit borrowers aren’t already suffering enough, car finance news this week indicates that Welcome Car Finance have pulled out of working with dealerships to provide car loans .

Welcome are poor credit car finance experts, specialising in customers with any level of bad credit who are buying a used or a new car . Welcome are the largest UK company that focuses on bad credit, but it seems that no one is impervious to the market pressure of the credit crunch.

Industry murmurs this week indicate that Welcome could be gearing up for a takeover bid of competitor Scottish London, who have had trouble lending in recent weeks. However, Welcome resists both these rumour, and the idea that the credit crunch is causing the move away from independent dealerships . Instead, parent company Cattles insists that Welcome is simply trying to maximise vehicle finance profits.
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