When you apply for a Shawbrook car loan, we will use a credit score to help make a decision on whether to lend the money or not and assess whether you can afford the loan. Your score will be based on information from credit reference agencies. If you are considered to have a good credit score, you could be offered a lower rate. If you are considered to have a bad credit score, you could be offered a higher rate. The interest is calculated daily but applied monthly.