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New research from BuyaCar.co.uk has found that British consumers typically underestimate their own credit-worthiness.

The online platform found that half of those people who assume their own credit score will be poor actually turn out to be an average or good credit risk. Furthermore, one in five customers with the highest credit score were found to believe they have a poor credit rating and less than 25% knew they have an ‘excellent’ score.

Austin Collins, Managing Director of BuyaCar.co.uk: “Consumers often seem unduly modest, or even pessimistic, about their credit rating,” “In the case of car buyers, a proper credit check is essential or they could miss out on the car that they really want – and can well afford – by underestimating their own credit score.

Collins concluded: “Our analysis suggests that car buyers are best advised to take the guesswork out of their credit assessment. By leaving that to the experts they are likely to get a better car on more affordable terms than they might have assumed – and that’s a win for everyone.”

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