Credit Scores & Cars

NorthEastFarmer

I'm sitting on an Experian Credit Score of 777 (Fair/Good) - I earn 30k pa and have no rent/mortgage, I've got one Default from 4 years ago which is now settled and haven't searched for credit in over 2 years or missed a payment in 4.

I really want to get a new car but I'm worried about being rejected and leaving a bad mark on my file.

Does anyone have any experience of this kind of situation?

[Deleted User]

Ignore your credit score.

An application won't leave any bad mark - just a search.

Candyapple

Your credit 'score' is pointless - ignore it.

Similar thread here:
https://forums.moneysavingexpert.com/discussion/comment/71100569#Comment_71100569

As your default is 4 years old you are in a slightly better position than the OP of the other thread (his was more recent) but still, you are going to be faced with the same situation.

You obviously won't be getting the headline rates anytime soon so expect to pay a higher APR if you go on finance deal.

Or if you went the loan route, try your bank first as they will have a history of how you handle money.

WeeThistle

Hi,

I got car finance in March on a brand new car (£13k) with a default from February 2016 (I'm currently trying to have this removed) and a default from November 2014 (deserved).

I would think you'll be fine for a car to be honest, I got normal rates (can't remember what they were but it was low) and I only put down £100 deposit.

Hope this helps.