Staff Answer
Oct 22, 2021 - 12:51 PM
Hi there
Unfortunately, that account that's in arrears may still show up on your credit profile, marking you as a higher risk client. This may lead to your finance application being turned down outright, or could cause the finance provider to only offer you an inflated interest rate - which will make your car unnecessarily expensive in turn. We'd suggest settling the account in arrears first, and then keep your credit history clear and up to date for at least 6 months before applying for car finance, otherwise that outstanding account will throw you off balance.
Hope this helps!
The AskAutoTrader Team
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