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Do i really already know the answer to this?

Discussion in 'Personal' started by mancminx, Mar 3, 2012.

  1. mancminx

    mancminx New commenter

    I need a new car, my present one needs work doing on it which will be rather costly. Will i be able to get credit eventhough i go overdrawn each month? I dont want to be turned down?
    Thanks
     
  2. Mangleworzle

    Mangleworzle Star commenter

    As long as your overdraft is authorized it shouldn't stop you getting credit. You might want to consider the affordability of it though.
     
  3. newposter

    newposter Occasional commenter

    Your credit report is far more complex than just your overdraft - there will be one or more of the three credit agencies used (sometimes all three used together) to ascertain your credit risk.
    It will probably take into account your level of debt compared to your income as a percentage, any defaults or late payments you have from the last six years, and if you are registered to vote.
    Go to www.checkymfile.co.uk and pay to see your credit score, it's really rather interesting; though you have to pay which is wrong in my opinion.
     
  4. jacob

    jacob Lead commenter

    Try moneysupermarket.com for loan info and comparison.
     
  5. I go overdrawn into an agreed overdraft each month and also pay it off in full each month. I bought a brand new car in November. No issues.
     

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