Credit Rating and Car Finance

A lot of people think they have bad credit or no credit, which puts them off applying for finance.

Nearly every car dealership offers finance, but this is usually restricted to one lender. Motorly is a car finance broker, we have a varied panel of lenders so will usually have a lender for most peoples circumstances. Whether you have bad credit due to missing a few payments or in the past have had CCJ’s our lenders understand not everyone’s circumstances are the same.

Making your payments on time will improve your credit score and mean you have access to better deals when you come to buy your next car.

When credit reporting services state someone has a fair credit rating, they are simply saying your score isn’t bad, but neither is it good. However, this should not put you off from applying for finance.

The difficulty customers face is they aren’t sure which lenders will accept a fair credit score and to compound the problem the more applications a customer makes for finance the more harm they could be doing to their credit score. This can be avoided by applying for finance through a finance broker like Motorly.

At Motorly, we have a panel of lenders which means we can match you to a lender that best suits your circumstances. What’s more, we can do this without conducting a hard credit search.

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