john1979

When i make the move in January how does your credit scoring work in a different country. Will i carry on the same as the UK or will i have to build a new one up ?

Trawled google for the answer and can not find a thing.

Many thanks,

John

rugbymatt

It will be very unlikely that a credit rating, good or bad, will be considered.

Except if you are with an affiliated bank or credit card.

john1979

So how easy will it be to get a car on finance ? I have no debt and a solid business what will continue in Spain ?

rugbymatt

Things like that are reliant on repayments, companies want to see what you are like repaying money, so its likely, but not exactly set in stone, that they will look at your credit history in Spain before they lend you money.


That said I know credit is slightly less stringent in Europe that it can be in the UK.

john1979

Right ok thanks Matt.

All a minefield at the minute. I know i need my NIE number and such to get contract phones etc. I guess i will learn as i go when i am there as most have done. Fancy a nice car over in Spain feel id enjoy it more so never splashed out here in the UK.

Patrick2976

Hi there. Have you moved? How did you get on regarding the car finance and your credit history?
We are planning to move to the CDS in May and I was wondering about just the same thing........Cheers, Pat.

lcortez

Did actually have a thread on this exact subject sometime ago
Basically RM is right credit IS less stringent in Spain than the UK,for example in UK you are scored out of 1000,whereas in Spain the score is out of 750.
Experien and Equifax do operate in Spain,however their not linked to their counterparts in the UK,so you will have to restart credit in Spain.
This could either be a good or bad thing depending on you personal situation
If you are looking for a Spanish mortgage,these are based on ability to pay,rather than credit score,although I have heard of some banks asking for a copy of a UK credit file.Not sure how widespread a practicethis is though

Econ

Do you own a property in Spain? if you do you should not have a problem getting credit for a car well... unless your thinking of an SLR or similar... then you might need a very big property!

Patrick2976

Thanks guys. I don't have a property in Spain yet. We're going to move out and rent for at least a year. I have a mind to get a friend of mine in Lithuania to spy out a good car bargain and drive it down once we've moved. Having read other threads on that subject it appears that will be a whole new can of worms though.......

lcortez

With regard to the car situation,actually was asking the same question,as I need a car for my work,and mines not worth the taxes on importation
What it appears the more experienced Spain hands are doing is buying secondhand cars in the UK,or E Bay (where they are much cheaper than Spain),and importing them to Spain,and saving a lot of money
In the other credit thread there was some discussion about Contract Hire in Spain,will try to find it as it may help and there was some good pointers in it