When you as a young driver want to buy a car on finance, a lease or car loan you will apply for the finance from a lender, on receiving your application the lender will get your credit rating from Experian or another credit reference provider. Your credit report will be the main reason that you will either get the loan or be declined.
Applying for any loan without knowing your credit rating is a bad idea because each time you apply and are unsuccessful this may affect your credit score in a negative way. So get your credit rating for better control, if it’s not good at least you will know and have the opportunity to start with the help of Experian to improve your credit score.
Understanding what your credit report is for, how it works, and ways in which you can improve a poor credit history will help you feel better and give you more confidence in dealing with your financial concerns.
Experian are the largest credit reference provider in the UK, providing financial data and credit ratings to lenders the world over who want better credit reporting.
Get your credit rating because it indicates to lenders how likely you are to repay a loan, if you have a bad or poor credit history you either won’t be offered credit or will have to pay a higher interest rate (APR) to get it.
You can sign up to Experian and will receive a free credit report and score on a 30 day trial basis straight away:
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