Yes, asset finance can impact your Central Credit Register (CCR) in Ireland, as it involves a credit agreement. Here’s how it works:
- Reporting Obligations: Financial institutions are required to report details of loans and credit agreements above €500 to the CCR. Asset finance agreements, such as hire purchase or leasing, are typically included in this reporting.
- Credit History: The asset finance agreement will form part of your credit history on the CCR. Timely repayments can have a positive impact, while late or missed payments may negatively affect your credit record.
- Credit Applications: Lenders and financial institutions can access your CCR record when assessing applications for loans or other credit products. A well-managed asset finance agreement reflects positively, demonstrating financial reliability.
You can access your own credit record here