Credit Scores

Credit score advice

Credit score advice from Socialmotors

Your credit score is a computer generated number, it reflects the history of any loans or finance agreements or other forms of credit you have signed up for in the past 6 years.

For example, paying all of your finance/loan agreements in full and on time, you will more than likely have a higher than average (good) credit rating. There are many factors that damage your credit file, missing payments when they are due or not paying them at all is the easiest way to acquire a poor credit score. Having to resort to an individual voluntary agreement or debt management plan or being declared bankrupt will also negatively affect your history.

The higher your credit score, the better chance you will have of getting a car finance application approved. When considering a loan applicant, lenders will be more confident you have the ability to repay fulfil the loan agreement.

Having a good financial past and credit score opens up the opportunity to gain the lowest rates of interest available for hire purchase, at Socialmotors we are able to help people obtain the best package to suit them.

If you have been refused in the past due to defaults, CCJ’s, arrears or any other adverse credit situations. There is no need to worry, we have lenders that specialise in providing people with not so good credit pasts, affordable finance options to suit their budget and lifestyle.

At Socialmotors, we can help you apply for car finance regardless of your credit score. We finance cars, bikes, vans, taxi’s, minibuses, caravans, motorhomes and even horse boxes. You do not need to put a deposit down nor do you have to pay any upfront fees.

You can improve your credit score in a number of different ways, it is recommended the first thing you should do is make sure you are registered where you live on the electoral role.

Make sure you keep up any repayments you may have on any outstanding agreements and check your credit report contains your correct personal information. – Get a copy of your credit report

Application process

Make an application online

Apply now or call us, one of our experienced advisors will take some basic details for our lenders to review. If approved you will be offered a credit limit for your new car.

Choose your car

Once you have your credit limit, one of our advisors will assist you in choosing your new car from our showroom – we have over 1000 vehicles available in group stock, at this stage you will be able to discuss your needs and establish the car you want.

Documents and Delivery

We will now prepare your new car for delivery and get it to you usually within 48 hours, giving you a free 12 month comprehensive warranty & 12 months MOT. Once your car arrives, if your happy you sign your finance documents.

Application Criteria

Do you meet the hire purchase car finance application criteria?

To be eligable for car finance all you need is to…

  • Be aged 18 or over
  • Hold a full UK/EU driving licence
  • Be UK resident for 3 years
  • Have a Full time, part time job, be self-employed
  • Not bankrupt

Please note: if your income is 100% benefits you must be in receipt of a high rate benefit like DLA or PIP to apply for bad credit car finance.

What our customers think…

Scott Royle
Scott Royle
20:54 22 Feb 19
Really happy with my car and great service car delivered by a really nice bloke and everything felt very personal
Gayle Eaton
Gayle Eaton
12:33 01 Aug 17
Very good service very happy
kim summers
kim summers
13:30 13 Jun 19
Received my new car yesterday..... delivered all the way to Hull..... the gentleman who delivered it was very polite.....A big shout to David for all the hard work and patience finding me a nice car...... I am absolutely thrilled with it........ I would thoroughly recommend this company to anyone, David was very friendly and was helpful through the whole process from beginning to end and would hesitate to recommend this company to my family and friends, thank you 😊
Mark Dean
Mark Dean
20:20 03 Mar 21
I had bad credit through a divorce this company took the challenge and came up with the car I wanted at the price that was well in My budget.The agent Dave was more of a mate then advisor was gen down to earth and honest and did his best not just 9~5 good service would use again and reccomend to excellent
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