If you’re trying to get approved for a loan or car finance a bad credit score can be a challenge. Here are our tips for turning around a bad credit score.
The most significant advantage of a good credit score is a higher approval rate. When lenders see that you have a good track record for keeping your bills up to date, they are more confident to approve your car loan or finance application. But be warned that applying for too many loan applications can ruin your credit score. So, even if you have good credit, do your research and only apply to companies that fit what you’re after.
Interest on loans and credit cards are related to your credit score. Any other loans or debts will be taken into consideration when applying for car finance. Be sure to check how much interest you’re being charged on repaying your loan or paying car finance.
Credit card companies offer credit limits based on your credit score. You can enjoy more benefits and increased credit limits with a good credit score. You can then use your card to make more purchases.
Just remember to make the payments on time and to avoid buying items you can’t pay off with your own money. If you do not pay on time, your credit score will be impacted so try your best to be communicative with the company so they can help you as well.
Most placed will decline you due to bad credit, we can work with you to help rebuild your score and also get you into a safe, reliable vehicle within just a couple of days. Choose from SUVs or family cars, whatever suits your lifestyle! If you love a beach trip or camping than a bigger Nissan X-TRAIL or Mitsubishi ASX will do the trick. If you need your car for zipping around the city, a Toyota Corolla or Hyundai i30 will be perfect. If you’re single and looking after children, then one of our many SUVs, hatchbacks or sedans will do the trick. Apply with us today and we will be in touch to talk you through the next steps and answer any questions you have.
