credit for a car

Hello123_2

hi,

does anyone know roughly what score would be required to get a car on lease eg from any of the major dealers or from nationwide leasing - anyone have any experience?

Doesit help if I have a cheaper car too - looking at no more than £200 a month.

How far back do they go? 3 years? 4 years? or the full 6?

Im just after some general advice as dont want to apply & get declined & damage my score more. Thanks

BugsyBrowne

You will need a score of around 117.

Hello123_2

BugsyBrowne wrote: »

You will need a score of around 117.

Could you elaborate a little?! thanks

Buzby

There is no valid score. This is spun by the credit reference agencies to sell their profiling product to gullible punters. It is up to the policy of the finance house on how they interprate the information so the only thing to do is try.

Hello123_2

Buzby wrote: »

There is no valid score. This is spun by the credit reference agencies to sell their profiling product to gullible punters. It is up to the policy of the finance house on how they interprate the information so the only thing to do is try.

So what exactly is the score i have off experian? im a bit confused as to what the car dealer will look at? do they look at my whole report or do they use some scoring? do you have any idea what sort of thing would make it a definite no (i have a default 4 years ago £140) but nothing since. thanks

Hello123_2

will it help having a 'cheaper' car or make no difference? thanks

BugsyBrowne

Hello123 wrote: »

will it help having a 'cheaper' car or make no difference? thanks

Lenders don't give a toss what score experian scored you as they do their own scoring.

You could have 999 score on experian it doesn't mean sh*t.

CKhalvashi

BugsyBrowne wrote: »

Lenders don't give a toss what score experian scored you as they do their own scoring.

You could have 999 score on experian it doesn't mean sh*t.

This is the exact point. I've got a 242 Experian score (just done it for a month) but am able to get some of the best products out there. Lenders score differently than the likes of Experian.

It's just advised I go for an Aqua for cashback, when I've gone for a BA Avios for a free holiday, it can sometimes be a long way out. Exp. doesn't know what I earn and doesn't score you in the same way lenders do.

CK

BugsyBrowne

CKhalvashi wrote: »

This is the exact point. I've got a 242 Experian score (just done it for a month) but am able to get some of the best products out there. Lenders score differently than the likes of Experian.

It's just advised I go for an Aqua for cashback, when I've gone for a BA Avios for a free holiday, it can sometimes be a long way out. Exp. doesn't know what I earn and doesn't score you in the same way lenders do.

CK

Exactly mate it's all bollox but they get away with it and they will do for years to come.

Hello123_2

ok so what exactly do the car dealerships look at/look for?

i think the whole credit rating system is a bit confusing & 'unknown' like its a secret what lenders look for so i hope someone can give me some advice thanks

BugsyBrowne

Hello123 wrote: »

ok so what exactly do the car dealerships look at/look for?

i think the whole credit rating system is a bit confusing & 'unknown' like its a secret what lenders look for so i hope someone can give me some advice thanks

They want someone who has a salary and a good history of managing credit lines with no late/missed payments basically and if this is you then you'll be fine.