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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Credit score of 628 and need to buy a car

Hi, I have a credit rating of 628 with experian, I have 1 CCJ which is currently being sorted as it was with a credit union for an amount of £7,300 but I have £5,000 in my account which makes it £2,300 which I wish to pay!!

I'm currently looking for a car loan of £5,700. I can give a guarantor but I don't wish to pay 50% Apr. Thanks

Posted by Phillip Cheetham on


Hi Phillip, i hope you are well.

With a credit score of 628, we should be able to get you an approval for finance. A guarantor would certainly improve your chances too.

In terms of the APR you receive, this depends on which lender we can get you approved with. You can get a rough guide to repayments by using our car finance calculator. If approved, the £5700 shouldn't be an issue.

Please make an application so you can see what we can offer you. If approved, you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin

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Hi, With a credit score of 628 and yearly earnings of £27000 what sort of budget could i look at for getting a car. I'm currently looking at cars going for £15000?

Posted by Steve Lee on


Hi Steve, thank you for your question.

While we should be able to get you approved for finance, securing £15,000 for you may be a struggle. £10,000 may be possible on your current income, but I can't guarantee loan amounts as this will be decided by the lender with whom we can get you an approval. Adding a joint hirer would help too, if possible, as we could also take their salary into consideration.

Please make an application when ready and if approved, you can choose a car from any reputable dealership. Kind Regards, Edwin

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