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Applying For Car Finance

Questions & AnswersCategory: Credit ApplicationApplying For Car Finance
Anonymous asked 2 years ago

I recently applied for car finance but it was rejected because of my late payments so after that same month I went and settled two of my clothing accounts and I’m left with one clothing account.

So I’ve been wondering how long do I have to wait to go and apply for car finance again because I don’t want to go again now and it declines again and decreases my credit score and have to wait a bit longer.

1 Answers
Matthys Potgieter Staff answered 2 years ago

Hi there,

Thank you for your question.

Once you are up to date with your repayments and have been keeping up with the payments for a couple of months pull your credit record. Check your credit score and payment history. If there are any discrepancies, take it up with the credit bureau. I would suggest that you make sure your credit record and credit score is good before applying for new credit. Keep in mind that every time you apply for credit, and get declined, it affects your credit score negatively.

Have a great day.