Car finance bad credit

[Deleted User]

Grumpy_chap said:

welshmatt983 said:

Her car is an 06 plate and not in great shape and needs MOT.
She has decided she wants a decent car now, 

I get "wanting" a decent car but what prevents the current car from passing the MOT?  My car is anything but great shape but still sailed through the MOT.

Can she get this car through the MOT and use it for a bit, while putting the monthlies that would have been paid to get the new car into a savings pot?  Then the money will be there to buy a decent car and it will all be much easier with a larger deposit, proven to self that affordability is truly not an issue, and allowed time for negative events to drop out of credit history?

The neighbors won’t be impressed with that though. 

[Deleted User]

poppy12345 said:

Deleted_User said:

poppy12345 said:

Your credit score has nothing to do with your ability to obtain credit, it's just a made-up number.

It doesn't but someone with a low score is unlikely to get preferential rates though are they.

Your credit score has nothing at all to do with it. They don't even see that made up number. Its your history they look at.

Someone with a low score is unlikely to get a top rate loan. Which bit do you not understand.

[Deleted User]

poppy12345 said:

Deleted_User said:

poppy12345 said:

Your credit score has nothing to do with your ability to obtain credit, it's just a made-up number.

It doesn't but someone with a low score is unlikely to get preferential rates though are they.

Your credit score has nothing at all to do with it. They don't even see that made up number. Its your history they look at.

It does, but obviously not by the incremental numbers. If you have a credit score of 900/1000 and your friend has 950/1000 then yes, no difference. If you have a score of 100/1000 and your friend has 900/1000, your friend will have a better chance of getting more amount of money. 

I used to work in banking and have literally seen it on a computer screen. 

Herzlos

You're being pretty pedantic here and missing the point. The credit score is generated roughly using the same sort of data as a credit report the banks are using. Sure a 900/1000 and 901/1000 are meaningless but if you're getting low numbers in a credit score then you're also going to have a bad credit report. It's an indication, if nothing else.