What is a credit score?
A credit score is a numerical score based on an individual’s credit history which is used by lenders such as car finance companies to assess your eligibility.
How does a credit score affect car finance?
Having a low credit score can make it hard to get approved for car finance agreements, and even if you are accepted, you may encounter unfavourable terms that make it very expensive. If you have a high credit score, you are more likely to get accepted with better rates of interest and loan terms.
