Ever been turned down for funding?
Have you ever been turned down for credit or car loan?
If you have you ay wonder why. You may also wonder if you will ever get approved for car finance. You credit score is important to keep an eye on. Want to check it? Click below and follow for your free check.
Your success is dependant on each lenders individuals policies. If your are declined it can be for any number of reasons but the most common are below:
Upon searching your profile they may see you as having ‘bad credit’. This may be because of an outstanding CCJ or recent loans default or other payment difficulties.
You have moved house often recently. Lenders favour those who have lived in the same house for the last three years or more. These ones are seen as more stable.
Your credit score is low. Most funders base their decision on this but will also take into account your specific history
Your credit file shows you have numerous loans already or have applied for more credit recently.
It’s vital that you to understand your credit file and the data it contains. When you view your own file you can then see what improves it or what doesn’t.
Additionally you can spot any mistakes as sometimes an error could stop you obtaining the credit you need.
Please remember we work with specialist lenders that work with those who have a bad credit. Finance can be obtained for many who have been refused elsewhere.