Here are two questions for you to answer honestly: Do you know a lot about car finance credit? Do you know what your credit score is and how it’s affected? If, like a lot of people, you answered ‘Hmm…not a lot’ and ‘No’, don’t worry; our impartial finance gurus have put their heads together and created a (very) handy Credit Clinic guide that covers everything you need to know.

With March being Credit Education Month, we thought now would be an ideal opportunity to highlight this hive of impartial information, so that when it comes to your own credit, you’ll be better prepared in the future.

What is the Credit Clinic?

In short, it’s a completely unbiased guide that helps you find out what your credit rating means, the causes of bad credit ratings and what you can do to improve your rating. There’s also a list of useful websites that offer advice to suit your individual circumstances.

How do I use the Credit Clinic?

Think of it as a journey; you know where you want to get to, but getting there is a bit of a mystery at the start. To make your journey a little easier, the Credit Clinic is made up of four stops:

Stop 1: Diagnosis Centre

This is where we explain the different credit ratings, what they mean and how they could affect your car finance application. We’ve also included a free credit check tool that provides you with an estimate of what credit rating you may fall under (you’ll need to answer some quick questions first to obtain your estimate).

Stop 2: Causes

We’ve listed the causes that can cause bad credit, including missing payments, defaulting and CCJs. This detailed list should hopefully help you diagnose what is affecting your credit rating.

Stop 3: Treatment

This is where you’ll find a comprehensive list of the positive steps you can take to help improve bad credit, including contacting a debt advice charity and, if you haven’t already, joining the electoral roll.

Stop 4: Resources

Here is where we’ve gathered details of other websites that are able to offer quality, unbiased advice on your credit and finances in general.

If you’re thinking of applying to us for car finance, but aren’t sure how or if your credit rating could affect a decision, we hope this mini guide has pointed towards where you can find some more information. Also, don’t forget to use our Car Finance Calculator to work out your monthly repayments – it’s invaluable when deciding on what your next car might be!

To find out more, head over to our Credit Clinic page where more detailed information can be found.

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