Take the stress out of buying a vehicle from us with one of our affordable finance packages which can be tailored to enable you to buy the car of your choice with ease.
Our prearranged car finance facility has been specifically designed to help customers who feel they may have a poor credit history, find a car that fits within their monthly budget.
All we need is a few details to get you started and by the end of our quick and convenient process, where we do all the work for you, you will know ahead of visiting one of our dealerships that your funding is secure, meaning you can concentrate on finding the car which is right for you.
There is a lot of confusion surrounding credit ratings. Rumours are commonly banded around about ‘blacklists’ and student loans being included in the credit rating.
This guide is here to help tell you why your credit rating matters and how it could affect you.
What is a credit rating?
In simple terms, a credit rating is a grading system used by banks and lenders when you are applying for a bank account, credit card, overdraft, mortgage and other financial products.
Although it is a common myth, there is no credit score blacklist and your credit record is not held on a single database. Your records are held by three major credit companies: Call credit, Experian and Equifax.
Your credit rating is just one factor in a lender’s decision. Every bank or lender will couple your rating with data of their own. For example, from the application form or internal credit history. Whilst there are lots of factors involved, you can help yourself by being aware of and taking care of your credit rating.
How do they calculate your credit rating?
Nobody is sure of the exact calculation used to get your credit rating and the agencies all use different factors when ranking you. This is why it’s best to check with all three (see below).
They will check:
They won’t check:
