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Do you perform a credit check as part of the car finance process?

After you’ve decided to apply for finance and have submitted a full proposal, the lender you’re applying to borrow from will conduct a credit check as part of their application process. It’s something they have to do to help them make a decision about if you can afford to take on the loan.

They’ll look into things like your current credit score and your credit history, alongside your incomings and outgoings, to help them understand whether you’re able to afford to take out finance.

Do I have to agree to a credit check?

Yes, if you want to get finance with a lender via The Car People you must go through a credit check. As with any other hard credit check, this will leave a footprint on your profile.

How does it work and how long does it take?

After you’ve submitted an application, we can identify which lenders may be best suited to you. After filling out a quick application on our website, we’ll have an idea as to whether you’ll be eligible for car finance.

To get a formal decision, you’ll need to complete a full application, which we will pass on to a lender. From there, they’ll conduct a credit check and decide whether to work with you and under what circumstances. This step will leave a mark on your credit report.

Usually, you’ll receive the decision on the same day or the following day.

What happens if I have a bad credit score?

We could still work with you if you have a low credit score. Our broker partner has a long list of specialist lenders who will work with those who have lower credit scores, previous credit issues, or large amounts of negative equity.

Another option is to set up a loan with a guarantor or as a joint agreement.

Learn more about car finance for customers with bad credit or browse our guides for further information about applying for credit.