What kind of car finance credit check is needed?
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Written on: 03.11.2009 [08:45]
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Esme
Esme
Topic creator
Posts: 4
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If I want to organise a car loan, what sort of car finance credit check will they do? How much of my credit history is relevant / important? |
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Written on: 01.12.2009 [15:31]
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Tej
Tej
Posts: 1
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Typically any loan application will require a credit check. This is essentially the process by which the lender looks at your credit score or previous credit history, to see what kind of debtor you are / have been. Better debtors who pay their bills on time will get approved more easily and get better loan terms. Poor debtors who default on payments will get poor terms, or may be refused credit. As far as I know, your whole record is relevant. Some companies may also require more detailed personal financial checks, such as proof of income. You should be able to ask someone from the loan company what information they'll need to process the offer. |
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