PCP likelihood of being accepted?

mdf1985 · 18 September 2017 at 10:13AM

Hello, I'm considering getting a new car on a PCP deal but unsure if I will be accepted for the credit. I have a car to trade in which has a lot of miles on the clock so wanting to change it as part of the scrappage deal.

My credit score on Experian is 622 which is classed as 'poor'.

From the credit report, I get I see 2 negative issues one was going over my credit limit (that was last December) the second is using a high credit card utilisation.

The car is going to be bought through Citroen does anyone have any experience of them?

If anyone can provide any idea if they think I'd be accepted that woudl be great, or should I not bother?

[Deleted User] · 18 September 2017 at 10:24AM

Car finance is relatively easy to get, as it is secured on an asset.

Ignore your credit score - it has no meaning. One limit breach last year is unlikely to be an issue. The utilisation issue will depend on the numbers. Using £200 out of a £250 limit is one thing. Using £38k out of a £40k limit is something else.

PCP likelihood of being accepted?

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