What is a car loan with a busy credit file?

Getting a car loan with a busy credit file is not impossible at all. generally speaking, most normal type car loan lenders want to see that you have a decent score on your credit file. If you have applied to every Tom, Dick and Harry lender over the last few day, weeks or months, believe us, you have done yourself no good there.

You credit score from Veda will be lower due to too many credit inquires on your credit file. Every time you apply for credit, with any lender, and they credit check you, this impacts on your credit score, and also your credit file starts to look a little busy.

If you were a lender, and the applicant in front of you had 15 credit applications with 15 other lenders, and they all obviously said no, then you can see why it makes the car loan lender nervous to go ahead and approve you for a car loan.

Now, the good part is, having a low credit score is not necessarily the end of the road for you at all.


Car loan lenders will look to see who made the credit loan inquiry, it is smart to not have too many payday lender types on your credit file, as lenders think a payday lender inquiry means you needed quick cash, so are struggling to live week to week, and may not be the best applicant for a car loan, so be careful.

There are many reasons for a low credit score, changing residence all the time, changing employment, applying for credit numerous times, they all give the lender an overall impression of you, but car loan lenders will still consider you for a car loan, even with a busy credit file.