Finance Q&A - Credit Status

What checks are done for car finance?

Jayson Ennis

Answer from the Stoneacre finance team:

Hi Jayson, thank you for enquiring.

With hard finance check, a full credit check is carried out, so it’s a good idea to check your score before applying. The most popular companies to check credit are Experian and Equifax. You can then fix any discrepancies and update your information. 

Some companies use soft credit check (us included), which won’t have an effect on your credit report. You can then check what is available to you and apply with confidence. Lenders will also conduct a background check consisting of your identity, address and employment history and others. 

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