Check that the credit information is accurate
The ICO explains that credit-reference agencies provide lenders with information used in credit decisions, including account history, previous addresses and public information such as county court judgments and insolvency data.
Check your files with the main credit-reference agencies and challenge factual errors through the relevant organisation. Correcting an error is different from removing accurate negative information.
Understand credit risk and affordability
A provider considers whether repayments are likely to be made and whether they can be made sustainably without significant financial difficulty. A score is not the whole assessment, and different providers can use different criteria.
Prepare accurate income, expenditure, address and employment information. Do not assume that a larger deposit, guarantor or particular vehicle guarantees acceptance.
Avoid repeated unexplained applications
Ask whether a proposed check is soft or hard, which organisation will perform it and at what stage. Several formal applications in a short period can add hard searches that other lenders may see.
The initial Nationwide Motor Finance enquiry does not itself search your credit file. If an introduction may be suitable, the relevant provider's process and consent should be explained before a later search.
Choose a realistic car and complete budget
Start below the maximum payment you think you can afford and add insurance, tax, fuel, servicing, tyres and repairs. A cheaper vehicle or larger genuine deposit can reduce the amount requested, but neither guarantees approval.
Finance is subject to status, affordability, vehicle eligibility and provider criteria. Nationwide Motor Finance acts as a credit broker, not a lender, and does not promise acceptance or a particular APR.
