Checking your credit ratingIf you’re relying on a loan or finance deal to help pay for your car, it’s important you boost your credit score.

A credit report contains history of your credit accounts, including any credit cards you may have, your mortgage – plus your repayment history – and even mobile phone or other payment contracts.

Finance lenders calculate a credit score based on details you and external agencies provide.

If you don’t meet their criteria, they could refuse your loan package application, or offer you finance at a higher rate.

• Your credit score is affected by your outgoings, bills, outstanding debt, electoral roll data, court records, fraud and account data
• Check your credit rating online, which can sometimes reveal incorrect information which can be rectified
• Build a good credit history by always repaying on time and staying within credit limits
• Home owners and those in full-time employment are more likely to be granted loans than those who rent and are self-employed
• If you’re not on the electoral register you’re less likely to be accepted for loans or finance

How Auto Trader can help:

Car loans and finance
Free credit check