Credit score for car loans

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Mon 14 Oct 2019 13:07
Credit score for car loans - leojack

Is it possible to get the car loans with bad credit score. How much credit score is needed to get the car loan with low-interest rates.

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Mon 14 Oct 2019 13:21
Credit score for car loans - gordonbennet

This is probably the last place to ask for such information, most of us here would advise anyone who desperately needs a car loan to instead buy a bangernomics type car with ready cash and save up for something better, rather than people in financial difficulties paying overpriced interest to people who already live charmed insulated lives in mansions costing several £million.

Check out the new threads of the last few days started by SLO, some good advice what to look for contained within.

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Mon 14 Oct 2019 14:36
Credit score for car loans - Manatee

Is it possible to get the car loans with bad credit score. How much credit score is needed to get the car loan with low-interest rates.

Yes. The worse your score, the more you pay.

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Mon 14 Oct 2019 16:34
Credit score for car loans - SLO76
Every firm has its own guidelines as to what score is acceptable to them and each uses a different firm to asses you. I’d advise using Clear Score or Experian to find out what your score is then try a soft search via the likes of money supermarket to see what you can get instead of applying for a loan which will hurt your rating especially if you’re rejected. If you only qualify for a high rate then I’d go for a cheap old banger and save up instead while also trying to rebuild your profile.
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Mon 14 Oct 2019 16:41
Credit score for car loans - Manatee

A good constructive answer. Repeated applications will make your score worse, in general.

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Mon 14 Oct 2019 17:32
Credit score for car loans - daveyjp
As has been explained in previous posts the score means nothing. Lenders use different criteria to assess loan applications. A low score just means you are less of a target for marketing campaigns.

All you can do is apply and see if you get approved. Of course if you are bankrupt and have 20 CCJs you may struggle to borrow money.
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