How To Improve Credit Score To Finance A Car In UK by U Car Finance
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How To Improve Your Credit Score To Get a Car Finance in UK

How to Improve Your Credit Score to Finance a Car in UK
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How To Improve Credit Score To Finance A Car In The UK

Today, we are going to discuss how you can get a better car finance deal by just having a good credit rating. We will also discuss how you can improve your credit score to get better car finance deals in the UK.

Credit scores are a measure of your current financial situation; they are used by companies, lenders and banks to determine your eligibility for various financial products, such as car finance and personal loans. In today’s economy, as more and more people become credit dependent, having a good healthy credit score rating has become a vital aspect of life, car financing is no different. Over the past few years, car finance has become a growing sector within the credit dependent economy. You would be surprised to know how maintaining a healthy credit score can save you money over time, when it comes to getting car finance in the UK.

Banks and lenders look at an individual’s credit score when it comes to lending. Your credit score usually indicates how reputable you are, when it comes to repayment of the credit. Banks and lenders assess an individual by looking at their past credit behaviour and pattern when making repayments on credit. If you have a good credit history, banks and lenders will provide easy credit with low-interest rates.

However, if you have bad credit and your credit behavioural pattern shows that you often miss credit repayments, you will find it difficult to get credit.

If you have a below average credit score, you can still get good car finance deals from specialist lenders. However, you may be paying higher interest rates than normal. there are few ways you can improve your credit score, by following the guidelines below you can improve your credit score.

Timely payments:

Timely payments are one of the easiest ways to improve your credit score. This demands nothing extra, all you have to do, is to ensure that your credit commitment contracts are paid on time. Another common yet effective practice is to make small purchases from your credit card on monthly basis. For instance, you can buy petrol or get your weekly shopping and then pay off the credit end of the month.

Mobile phone contracts also have far-reaching impacts on your credit scores. Almost everyone has a mobile contract. It’s time to capitalize on this opportunity by signing up and paying for your mobile contract in a timely fashion.


Patience is of paramount importance in this enormous ordeal of credit score improvement, you can not expect changes to happen overnight. Chris Reed has recently improved his 320 credit score to a whopping 881 over a period four years. He remembers when he was looking for a mortgage for a property he realised the condition of his credit score. Although things can take a lot less to improve for you, Chris’ case serves as an outstanding example of determination.

Double check your credit report:

One of the best things about credit scores is that you can easily check the status your credit score by accessing a credit report using one of the free services in the market. Credit card scams are prevalent nowadays. Despite the numerous security measures, acts of credit thievery and hacking one’s identity are on a hike. Your bad credit score may also be a result of a similar incident. Be sure to regularly check your credit reports, credit search history and the activity on your credit file correlates with you.

Close unused accounts:

Unused credit accounts may also have a serious effect on your credit score. Not only does it result in a low credit rating, but you also become prone to frauds and scams. This can only worsen the already downhill situation.

Check for linked credit account:

If you are suffering from unusually low credit scores rating, it is always best to check your credit report linked credit files. Having a friend or family member’s credit files associated with your own credit file can lead to a lowered credit score, given they have a poor credit rating.

Do not apply with multiple lenders:

Even if you are desperately in need of money, the best practice is to never apply with multiple lenders at once. This is quite prevalent nowadays but only results in lower credit score. Keep in mind that all of your applications are added to your credit file and have a direct effect on your credit score. Moreover, applying with different credit lenders also decreases your chances of getting credit at all. Lenders may see you as desperate and decline your application in the fear of risks.

Register on the electoral roll:

Registration at the electoral roll is one of the most important steps in improving your credit score. Most of the lenders will look into whether you are registered on the electoral roll as it shows you are currently residing at the given address.

By following the above-mentioned steps, you can slowly improve credit score and get back on the track to finance your next dream car or a house. Be sure to evaluate your options before signing up with a broker or credit card company. There are no secrets. Just a bit of technique, some patience and perseverance to help you along the way

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U Car Finance is one of the leading UK Car Finance Brokers, we are dedicated to giving our customers the best service as possible. We accept people who have been refused elsewhere, people with good credit, bad credit and people with no credit history at all.

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