For most people credit ratings can seem a mystery, there are so many contributing factors that can lead to a change in somebody's credit score that it is very difficult to fathom out exactly what a credit rating is. Credit Ratings are basically a score or category which gives a lender an indication of what the probability is that somebody will repay what they owe, within the terms agreed. This intern helps the lender decide whether to make a credit offer and what terms to set for instance interest rates. As a general rule of thumb the higher the score equals to a lower interest rate.
How do I find out my credit rating?
Car Credit Assured can help you understand which kind of bracket you would typically fall into by filling out our quick and simple form here.
Alternatively, if you would like to know your exact credit score there are several online sites available to you that can perform the necessary checks. You will find a selection on our Useful Links page.
Typical Credit Examples
The diagram below outlines a typical credit agreement based over the same number of months for a small, medium and large car depending on your credit rating. This is a guideline only and there are a number of factors which affect the finance option you are offered.
| Gold Rating | Silver Rating | Bronze Rating | |
 £4995 |
£112.38 | £124.38 | £141.55 |
 £6995 |
£157.39 | £174.88 | £198.19 |
 £8495 |
£191.14 | £212.38 | £240.69 |
Credit Repairer Service
If you have a bad credit rating there is a possibility that you can repair your score. By taking out a higher interest loan and ensuring that you maintain the payments and terms set out in the agreement, over time your credit score will improve and the lower interest loans will then become available to you. We are here to help and if you find yourself in a position where you can’t obtain loans in the silver or gold category we will advise you on the best way forward based on your own specific circumstances. To take advantage of our credit repair service please fill out our poor credit enquiry form and we will aim to contact you within 48hrs.
Representative APR above is as follows:
Gold: Cash Price £4995, Deposit £100. Balance to Finance £4895, 60 Monthly Payments Of £116.55, Optional Final Payment Of £120, Total Amount Payable £7213 - 15.6% APR Representative.
Silver : Cash Price £4995, Deposit £100, Balance to Finance £4895, 60 Monthly Payments Of £129.04, Optional Final Payment Of £120, Total Amount Payable £7962.40 - 21.2% APR Representative.
Bronze : Cash Price £4995, Deposit £100, Balance to Finance £4895, 60 Monthly Payments Of £143.61, Optional Final Payment Of £120, Total Amount Payable £8836.60 - 27.8% APR Representative.
