Car loan companies

Lending money from someone and repaying it over a period of time is called credit. Over your lifetime, your lending habits are recorded in a central database that's used to provide a credit score. When you ask for a loan, the company will often carry out a credit check to find out what kind of history you have for repaying your debt. It's not all bad news though, as ironically someone with a poor credit history has a higher chance of getting a loan than someone with no credit history. This is because the loan companies can calculate a risk factor and with out they history it's guess work.