Midland Credit Review [Read Our Expert Opinion]

Jane Wardle

Written by Jane Wardle on April 5, 2018

Updated April 13, 2018

Midland credit

Overall Rated: 4.2 / 5

Summary

Midland Credit is one of the UK’s oldest and most reliable car finance brokers, operating for the last 30 years and offering car financing to customers faced with challenges to buy a new car through the normal channels. Apart from guaranteed loans, Midland Credit specialises in helping customers with poor credit to obtain finance approval at realistic rates. The company currently accepts and approves two out of every three bad credit car loan applications. In addition, vans and light commercial vehicles can be financed with little or no deposit. Midland Credit thus caters a wider range of customers looking for the best financing deals in the UK.

The application process comprises application submissions online and via telephone, which are typically accepted within an hour. If you have already chosen your car, the dedicated advisor contacts the dealer to inform them of your acceptance and gets the paperwork over to you for signature with information about any further actions needed. Free car valuation and HPI check services are also available to their customers.

With its wider car financing service portfolio, the ability to bring the best deals for customers with both good and bad credit history, and its quick application processing system, Midland Credit maintains a good reputation in the UK’s financial markets.

 

Trust & Reputation

Rated 4.0/5

Midland Credit has more than 30 years’ experience of providing car finance. The company is known to give all of its customers a satisfactory experience in terms of the best credit deals for their next car purchase. Customers with good credit history are usually provided with guaranteed car loans, while those with bad credit are also approved, mostly. The company approves the loans worth of £20 million on a monthly basis, which is impressive and encouraging for the car buyers worried about their bad credit history.

Midland Credit offers a quick, transparent and efficient system, and a team of advisors who are certified and fully comply with the FCA regulations. Midland Credit is a licensed car financer broker fully authorised and regulated by the Financial Conduct Authority.

Midland Credit is one of the most trusted Car Finance Brokers, rated Excellent by most of its customers and scoring 9.9 out of 10 based on Trustpilot.com (data as of June 2016).

Expertise & knowledge

Rated 4.6/5

Midland Credit has been providing car financing services and solutions to the customers all across the UK and has a successful track record of providing seamless and efficient services to a wide range of customers. The company is expert in providing the best financing deals for cars, vans and light commercial pick ups for any dealer of customer’s choice. Currently, Midland Credit provides financing for the cars costing from £3,000 to £50,000 with starting APR 26.9%. In addition, car leasing and warranty are also the services offered by Midland. Once you have selected your car and dealer, just call the advisor or submit online application to proceed the financing process. Even if you have not yet decided the dealer, you can still make your car finance pre-approved by Midland Credit, then inform the potentially-selected dealer about pre-approval of finance and get the process finished right away.

Midland Credit considers and accepts the customers having the county court judgements, a poor credit rating, defaults, payment arrears, previous bankruptcy or IVA or payment arrangement. The company claims to approve 2 out of every 3 bad credit applications, which is impressive and gives it a competitive edge in the market.

Customer Service

Rated 4.4/5

Midland Credit specialises in car loans for customers with bad credit. Once you have applied, you get a decision within the hour. The process is quick, and based on three steps; application submission, acceptance and payment to dealers (including paper work done by the assigned advisor). There is no service fee or hidden charges, and payment is directly made by the Midland Credit to the dealers. This means, you just need to select your car and dealer and get your finance approved to drive your car away.

In addition, an instant calculator helps customers estimate the APR and instalment terms. The wide lending range of £3,000 - £50,000 with starting APR 26.9% makes it a great option for most of the customers. Bad credit cases are also a speciality of Midland Credit.

Advisors can be approached easily via call, email or online application process. Most of the customers on Trustpilot.com have praised the quick and friendly customer service. Overall, Midland Credit is a really great option for anyone with a less-than-immaculate credit history who is looking to fund a new vehicle.

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Rating: 4.2 / 4.2 with 1 votes

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