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  • Car Loan

    Hi,
    A couple of weeks ago the car's alternator failed and where we live we cannot be without a motor, so bearing in mind the cost of getting the new alt fitted (180-200) along with the fact that the car needs a new windscreen before MOT in Nov (60.00 excess) and has various dings and dents that make it not worth a lot we decided to look at part ex it towards a new motor. My credit is shot so OH was going to apply, as she's managed to get phone contract and Vanquis card in the recent past.

    Needed all this sorted quick as I had to decide what to do about my car.

    Found a car we liked at the local dealer, rang to enquire and that we needed finance but credit was not perfect, > no problem we'll get back to you. Looking at approx 3500.00 needed on finance.

    Finance company rings wanting bank statement as proof of earnings as OH is self employed, got that done by the end of day.

    Having heard nothing OH rings them next day and is told earnings are not enough in the period shown on statements, sorry can't help you. I get back onto dealer to tell him and ask if he has any other options, and he says he'll get back to me. Nothing by the end of the day so I ring again, and told sorry no luck with finance so they can't help.

    So decision made and car in to have new alternator fitted the next day, end of story.

    Nope a week later some finance company rings OH in the middle of work and says loan has been granted but we need another 300.00 towards deposit. OH says thanks but don't need loan now, end of story. Didn't get the name of the company.

    Nope a week later (today) OH gets a text from another loan company advantage finance stating sorry loan has been turned down following a credit search.

    Is there anyway of putting a stop to this as we don't want OH file trashed with loads of searches, it's bad enough with the searches done already.

    Thx

  • #2
    Re: Car Loan

    Originally posted by fedupwiththeworry View Post
    Hi,
    A couple of weeks ago the car's alternator failed and where we live we cannot be without a motor, so bearing in mind the cost of getting the new alt fitted (180-200) along with the fact that the car needs a new windscreen before MOT in Nov (60.00 excess) and has various dings and dents that make it not worth a lot we decided to look at part ex it towards a new motor. My credit is shot so OH was going to apply, as she's managed to get phone contract and Vanquis card in the recent past.

    Needed all this sorted quick as I had to decide what to do about my car.

    Found a car we liked at the local dealer, rang to enquire and that we needed finance but credit was not perfect, > no problem we'll get back to you. Looking at approx 3500.00 needed on finance.

    Finance company rings wanting bank statement as proof of earnings as OH is self employed, got that done by the end of day.

    Having heard nothing OH rings them next day and is told earnings are not enough in the period shown on statements, sorry can't help you. I get back onto dealer to tell him and ask if he has any other options, and he says he'll get back to me. Nothing by the end of the day so I ring again, and told sorry no luck with finance so they can't help.

    So decision made and car in to have new alternator fitted the next day, end of story.

    Nope a week later some finance company rings OH in the middle of work and says loan has been granted but we need another 300.00 towards deposit. OH says thanks but don't need loan now, end of story. Didn't get the name of the company.

    Nope a week later (today) OH gets a text from another loan company advantage finance stating sorry loan has been turned down following a credit search.

    Is there anyway of putting a stop to this as we don't want OH file trashed with loads of searches, it's bad enough with the searches done already.

    Thx

    Hi there..
    Just posted today regarding AF , although they helped me get car finance they are a pain in the arse and have just done a credit search on me without my permission until I started the recorded letters and now they are listening.
    Write to them at :
    Advantage Finance Limited
    Unit 7
    Acorn Business Park
    Moss Road , Grimsby
    North East Lincolnshire
    DN33 0LW
    OR - Tel - 01472 233200
    Write and send recorded to take them off their register and you do not permit any more calls,texts or mail and certainly do not authorize any credit searches.
    If they persist threaten them with the OFT or FSA etc..

    Comment


    • #3
      Re: Car Loan

      Thanks

      Comment


      • #4
        Re: Car Loan

        Has this been sorted?

        Comment


        • #5
          Most Americans choose dealership financing???

          we are UK based so your words of wisdom are of no use to us, Many Thanks
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

          If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

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          • #6
            have already messaged them and stated that fact also any further postings not relevant then action will be taken?
            I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

            If you spot an abusive or libellous post then please report it by Clicking Here. If you need to contact me, for instance if I've issued you a warning, moved, edited or deleted your post, please send me a message by clicking my username.

            Comment

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