car finance - bad credit score - good report

shevbee

ok so here's my issue. My 54 plate peugot 206 is causing me too many problems now. I can afford to get finance but not sure whether i'll be accepted. I stupidly got a loan from a bad company when i was younger and it has cause me problems ever since, this loan is now paid off. i have checked my credit rating and its 1/5 but my credit report is perfect no missed payments for years all green.

what are my chances of being accepted for finance with a main dealer?

DCFC79

How can a rating be 1/5 yet be perfect, you mean theres no red marks ?

How long ago was this loan from a bad company ?

Sinhanada

Are you on the electoral role? Although the loan was paid off, did you have any late payments \ defaults due to this? Do you have any financial associations with any other people? Do you have any other credit facilities available?

The credit score is irrelevant by the way!

shevbee

DCFC79 wrote: »

How can a rating be 1/5 yet be perfect, you mean theres no red marks ?

How long ago was this loan from a bad company ?

my credit score is bad, but my actual report say all payments are up to date with no missed payments fro years.

the loans was about 3yrs ago and paid it off a few months ago. I went to a debt management company who were very unreliable and didnt send my creditors the payments. i then left them and managed the payments on my own.

shevbee

Sinhanada wrote: »

Are you on the electoral role? Although the loan was paid off, did you have any late payments \ defaults due to this? Do you have any financial associations with any other people? Do you have any other credit facilities available?

The credit score is irrelevant by the way!

as far as i'm aware i am on the electoral role. i did had defaults, but none for 18months + (see above post). soory other credit facilities in what sence?

molerat

shevbee wrote: »

1/5 but my credit report is perfect no missed payments for years all green.

shevbee wrote: »

my credit score is bad, but my actual report say all payments are up to date with no missed payments fro years.

the loans was about 3yrs ago and paid it off a few months ago. I went to a debt management company who were very unreliable and didnt send my creditors the payments. i then left them and managed the payments on my own.

shevbee wrote: »

as far as i'm aware i am on the electoral role. i did had defaults, but none for 18months + (see above post). soory other credit facilities in what sence?

Your credit report will show if you are on the electoral roll. How can your report be clean if you had defaults 18+ months ago, the report looks back 6 years, that is probably why you have a low score. Have you actually looked at your reports from ALL 3 agencies and looked back more than just the default one year ? Other credit facilities such as credit cards, mobile contracts, (some) utilities, overdraft etc.

Apples2

Your credit file CANNOT be anywhere near good if you were on payment plans and had defaults, in fact it couldn't get much worse.

If you took a loan from a "bad company" a few years ago, there must have already been negatives present for them to be the only ones who would accept your application.

Think of your car from another perspective. Taking one in finance will be circa £250 per month. Are you spending that each and every month keeping your 54 plate pug on the road?