Arnold Clark Car finance

Mfox2012

Hi looking to apply to arnold clark for car finance, not sure if i will be accepted, can anyone who has gotten fiance give some advice on what their circumstances were.
I am on electoral register no late payments, no defaults, no ccjs nothing like that. However done a few searchers recently as trying to get a loan for car finance which was rejected. So now this has brought my score right down to 706. So basically looking to see if anyone got accepted with a lower score? as i don't want to go get my hopes up then be badly let down.

Thanks

Tixy

Don't compare your score to other people - potential lenders do not see that score. They see the detail of what is on your file and what you put on your loan application.

How many searches do you have in the last 3months?
Do you know why you were rejected by the places you have already applied to?

Mfox2012

Had about 5 searches, silly as it was ! tesco, santander the big banks. No idea i check my credit file on experian and like i say nothing adverse. My accounts are not overly old round about 18 months old. I just never had any debt then realsied to be able to get any you need history so perhaps thats went against me. So you don't think this will prevent me from getting finance then ? thanks for your reply.

CKhalvashi

Credit 'scores' are meaningless 3-digit numbers. Mine shows on Experian as crap, yet I can get the best deals on just about everything.

If you've done more than 3 in the last 6 months, don't do another one until they've dropped off (6 months from the last)

It's going to depend on your income, what you want to borrow, what your expenses are, however a good guide is that if your bank don't trust you, you're not going to get anywhere.

CK

Mfox2012

Ok well perhaps best to just wait then like you say. Its fustrating when i pay on time and run all my accounts well . So best to wait the six months then and try ? thanks

BugsyBrowne

CKhalvashi wrote: »

Credit 'scores' are meaningless 3-digit numbers. Mine shows on Experian as crap, yet I can get the best deals on just about everything.

If you've done more than 3 in the last 6 months, don't do another one until they've dropped off (6 months from the last)

It's going to depend on your income, what you want to borrow, what your expenses are, however a good guide is that if your bank don't trust you, you're not going to get anywhere.

CK

You must have missed/late payments or your using to much of your available credit or have loads of searches for Experian to score you crap(poor) if you haven't got any of these then those no way your Experian score would be poor.

somethingcorporate

BugsyBrowne wrote: »

You must have missed/late payments or your using to much of your available credit or have loads of searches for Experian to score you crap(poor) if you haven't got any of these then those no way your Experian score would be poor.

To be honest, as long as he can get the finance he needs it doesn't matter whether Experian give him 999 or XYZ, since he won't be borrowing from Experian.

Personally, my score for CK is two bob and a big apple. I'll happily lend him a tenner.

CKhalvashi

BugsyBrowne wrote: »

You must have missed/late payments or your using to much of your available credit or have loads of searches for Experian to score you crap(poor) if you haven't got any of these then those no way your Experian score would be poor.

Various searches, mainly due to a Ltd company reshuffle.

The last upping of limit I did and the restructuring of assets/debts to acquire another company without going insolvent anywhere were with the same bank, hence common sense has possibly been used, but possibly not.

I can only give my findings.

CK

BugsyBrowne

somethingcorporate wrote: »

To be honest, as long as he can get the finance he needs it doesn't matter whether Experian give him 999 or XYZ, since he won't be borrowing from Experian.

Personally, my score for CK is two bob and a big apple. I'll happily lend him a tenner.

But your not going to lend him a Tenner so its irrelevant and most apples are the same size so not sure where you get big apples from as my local Tesco's don't do them.

[Deleted User]

They can find something for most people, it's just the huge interest rate that's nasty!!! Oh and their service and cars :-)

SeanG79

With NO adverse on your credit searches, trace on the electoral roll for the last 3 years and at least 1 item of credit with a payment history, lenders like Close MF and Motonovo will often approve the car finance where personal loans have been turned down. They will consider your exposure to finance though. I am not sure about Motonovo, but Close MF have manual underwriting, so they will often take a view on the lend...Their rates aren't the cheapest but they aren't astronomical either