Terms and Conditions
To establish your potential eligibility for Car Finance we will need to perform an enquiry with Credit Reference Agencies which will not affect your credit score or be reported to any lending institutions you may apply to in the future. Please read the terms and conditions below which you will be deemed to have read, understood and agreed to if you choose to proceed and obtain your My Car Credit Score.
My Car Credit Score is a trading name of Evolution Funding 2018 Limited, (“Evolution” / “we” / “us” / “our”) is a company registered in England and Wales under company registration number 11354996 and our registered office is at Thompson Close, Chesterfield, S41 9AZ. Evolution Funding 2018 Limited are authorised and regulated by the Financial Conduct Authority for credit brokerage, our firm reference number is 823324.
To generate your My Car Credit Score, Evolution will request information held about you from two credit reference agencies, Experian Limited and Equifax Limited. A credit reference agency is a company that collects personal information from various sources and provides personal information for a variety of uses, including to prospective lenders of credit for the purposes of those lenders making credit decisions about their prospective customers. Providers of personal information that credit reference agencies hold about you include but are not limited to; lenders such as banks, mail order companies, mobile phone or broadband providers and credit card companies. Other sources of information also used include Electoral Register, County Court Judgments and Bankruptcies. Credit reference agencies use this data to create a credit report on you.
My Car Credit Score takes the data contained within these credit reports and uses an algorithm to compare this to the results of a large anonymised pool of past car finance applications. It is designed to produce an indication of your chances of gaining car finance in this instance and it is not a statement or representation as to your credit worthiness or credit health generally. Evolution will not provide you any credit information contained within your personal credit reference reports, nor will Evolution pass this information to a 3rd party. You (and any dealer/introducer involved) will see information generated by Evolution, this includes an indication of the likelihood of gaining a car finance approval, including likely cost and an internally generated credit score.
Evolution and any associated dealer partner cannot be held liable for how you use the information generated and the accuracy of the results given. Whilst we believe the results of My Car Credit Score to be highly predictive of a customer’s ability to gain car finance the nature and limitation of data captured from you means that the system does not consider all factors such as but not limited to your employment status, income levels and the vehicle you are considering buying. You should always ensure any financial commitment you enter into is affordable to you for the duration of the contract and your My Car Credit Score is not an indication of that.
By accepting these consent Terms & Conditions you are instructing us to request information held about you from Experian Limited and Equifax Limited and also consent to us providing your personal information (excluding data held by the credit reference agencies) to the introducing dealer.
You may only request your own credit information. You may NOT request credit information on behalf of anybody else, even with their consent. It is a criminal offence under section 55 of the Data Protection Act 1998 to do so in certain circumstances.
Experian Limited and Equifax Limited will both record details of your request to supply your credit information to Evolution in the form of a consumer enquiry search footprint, this footprint will not be seen by any other commercial enquiry and will not have any adverse impact on your credit rating.