finance companies!

[Knox18]

I dont understand them!

2 years and 2 months ago I applied for 22k of finance to buy my Subaru when i was self employed only 3 months and got it no problem!!

2 years and 5 months into my job ie today i applied for finance for £2.8k and got refused straight away.

i dont understand :argh:

any ideas? :popcorn:

[BigStuff]

Mate in the trade tells me loads of folk are getting knocked back on finance now unless squeeky clean.

Worth getting an experian or similar report on your credit history to see if something is amiss.

[GCA3N]

was it an unsecured load you went for or car fianance, I have a good credit score just now and was knocked back for an unsecured personal load (did ask for quite a bit) and was only offered 5k, did get car fianance no probs though.

[Livi]

I think its more of:

1. you cant keep payments of your scoob, so they can take it away. (just like a house)

2. you ask for a loan, they really cant take it back cos they dont know what you have bought with the money so they cant reposess what they cant prove you have bought?

think thats it? :blush:


*Edit*

But then, they WILL want to sell more cars wont they, so they can make financing that way easier for peeps

[Knox18]

it was finance on a mountain bike from a well known bike retailer, £700 deposit was fired down before the finance application went ahead.

just strange :confused:

going to plan B now, get my mum to do the finance and me to do a standing order.

does me getting knocked back go in my record?

[Livi]

it was finance on a mountain bike from a well known bike retailer, £700 deposit was fired down before the finance application went ahead.

just strange :confused:

going to plan B now, get my mum to do the finance and me to do a standing order.

does me getting knocked back go in my record?

i think it does,

Me and the wife tried for a loan and the bank said that it would leave a soft print on our record (month old or something) but if we carried on trying it would leave a perm on our record.

check with your equifax or experian for a free 30day trial :thumbs up:.


anything like overdrawn can knock you back for months

[Fester]

i think it does,

Me and the wife tried for a loan and the bank said that it would leave a soft print on our record (month old or something) but if we carried on trying it would leave a perm on our record.

check with your equifax or experian for a free 30day trial :thumbs up:.


anything like overdrawn can knock you back for months

Will show on your credit report as an application made for credit. Will not show as declined. Every finance company uses this information in different ways but the general rule is the more serches or applications for credit the more affect (small affect) it will have on your credit rating.

[euan]

it was finance on a mountain bike from a well known bike retailer, £700 deposit was fired down before the finance application went ahead.

just strange :confused:

going to plan B now, get my mum to do the finance and me to do a standing order.

does me getting knocked back go in my record?

That's some bike if the loan is for 2.8K! For that money, can you not get it through the C2W scheme or anything? Would save you a packet, at least on a £1000 worth anyway.

[Ivano]

What Euan said... It must be some bike!!

What bike are you actually buying if you don't mind me asking?

[Scottie]

Best advice I can give you is to click on the link below.



http://www.itv.com/News/tonight/episodes/CreditSecretsRevealed/default.html

[Knox18]

Trek Session 88 FR :thumbs up:

bit more burley than my Trek remedy 66

not too clued up on the C2W scheme as far as im aware it was only upto 1k, id like to see me riding 17 miles to work on a free ride bike :laugh:

[GCA3N]

A BIKE, wow, does it come with a car:lol:

[Ivano]

Trek Session ehh!! Very nice Bike :thumbs up::thumbs up:

Hope you get the finance sorted out and you can enjoy a New Toy :D:D

[AndyP & Lenore]

I keep a close eye on my credit report (especially after I found one of my "Financial associates" was linked to Al Quaida!!!!). Every time I look at my report I am scored DOWN because I don't have ENOUGH credit checks against my name. Go figure.

So, Chris, I wouldn't worry at all about being declined - I wouldn't lend you money either:moonie::laugh: - unless there is something in your report that has caused you to be declined.

Also, bear in mind the financial sector is a very different monkey these days than it was 2 years ago.

One reason could simply be it was too small an amount. If you wanted to borrow £15,000 they may have jumped at you.

Gotta say though, have you noticed a lack of Lombard Direct ads on telly. Long time since I heard the 0800 2 15,000 ad.

A:D

[weefossy]

Money being tighter is the key problem and as Andy says you can get kicked back if you have no track record, which amazes me.
On Fi's link there is acompany called experian. You can check your credit on-line with them. They had a "free offer" link on Yahoo a couple of days ago. That's who our company uses.
Re bike is it a tandum with a Sherpa to peddle it for you!!

[Knox18]

said bike :thumbs up:

http://www.trekbikes.com/images/bikes/2008/xl/session88fr_silver.jpg

[euan]

C2W is up to 1K, but your not limited to spending that. You get a tax break on that 1K, so you end up paying between 6-800 for that 1000. My road bike was over 1K, but wasn't an issue, the paperwork just listed it as 1K worth.

[Big Gordy]

£2800 for a mountain bike:eek: cripes that must be some piece of kit:clap:

[Knox18]

£2800 for a mountain bike:eek: cripes that must be some piece of kit:clap:


its 3.5k :frown: and yup its awesome!! :thumbs up: cant wait to do hit some big drop off's in it!

getting my mum to do the finance agreement instead! :thumbs up: