What to take
If you arrange your motor finance at the dealership where you are buying the car, it may be possible to drive away the same day. However, by law, the dealer will have to make certain credit and identity checks.
Identity check
The lender will have to check your identity. Therefore, you must take with you your driving licence, which should show your current address. If your driving licence is a photocard licence, the dealer will ask to see the counterpart too.
Credit check
All lenders will carry out a credit check to ensure that you can afford to repay the finance and that you have a suitable financial background. As part of the check, lenders will search your record at at a licenced credit reference agency.If you are refused credit you can ask the lender for the name of the credit reference agency and then apply to see your credit file. You can ask for any incorrect information to then be removed or amended. Click here for FLA's Guidance on credit scoring.
If your credit score is poor, the car dealer may be able to find another lender willing to finance your vehicle. However, you will probably pay a higher interest rate as a result.
