Your credit rating plays a large role in (a) whether a lender approves your finance application and in many cases, (b) the interest rate applied if you are successful.
Basically, your credit rating is a number that is calculated based on things like your previous loan repayment history, paying bills (like the gas, electricity etc) and how many times you have applied for finance in the past. And keep in mind with the last one, even if you are just shopping around and don’t apply for finance with a particular company, every time a retailer or lender runs a credit enquiry, it is added to your history.
At Fast Car Loans we have been successful in securing finance for people with bad credit. It largely depends on your personal circumstances, so click here to find out if we can help you secure finance and get back on the road to a positive credit rating.
