HELP, NETCARS Finance

[wiosna30]

Hello all,

I need a piece of advice. I‘d like to buy a car and take a loan, but I have problem to get it.

I asked my bank First Direct for a personal loan and they say “no”, because I have already:

- a personal loan and outstanding balance 1,100.00

- Visa - balance 1,500.00

- Another Visa (Capital one) – 1,000.00.

- Two store card (total 700.00), but I am easy able to cover the payment for it. (Monthly: 2,600.00 after tax, no children)

I asked Natwest as well and they say the same. My income now is not a small, I have a permanent contract, and 50 hours per week, now will be 1year on my current job, before 2.5 years on another place, about 3 years - the same address (2.8months)

My credit score on Experian is 745 and on Call credit 820.00

Firstly, I should say that I honestly have never ever had any finance problems, I've always paid my bills in full and on time, for all payments I have DD, I had just 3 delay payments, but it

was just maximum 3 days and 3 in areas on last 4 years, but it wasn’t my fault , I am on the electoral roll, I never had CCJ's, I never been on the court, maybe because I don’t have the mortgage account only I a rent a flat ?

Hopefully some legal expert out there can tell me what to do.

Can anyone recommend a direct loan company that will look at applications with my credit score???

I need 12,000.00 for 48 month

Any advice would be greatly received

Regards

[LJL]

Well I can't understand why no-one is considering you!

 

In my experience, if you go to a dealership for example BMW or Ford then they are always desperate for the business and will not turn someone like you down, or we have just bought another car from Black Horse Finance (they have a car showroom in Birmingham where they sell off all the ex Lloyds company cars) and we did not have any problems with them either.

 

Sounds like you are in a great position - just be careful who you go to next as you dont want too many credit searches on your records. It happended to me once when a car salesman tried every loan company under the sun to try and get me a deal - my credit rating was affected - but experien wrote to them and managed to get most removed.

 

Good luck - if you want the names of the dealerships / garages we use - just let me know.

[gyzmo]

may I also suggest using comparison websites as a guide. And as said - be careful. If anyone does accept you, read terms before signing!

[Guest Gertie100]

Personally (and I mean literally from my own experience, nothing official) I would go for another personal loan rather than a specific car loan...

 

And my best experience (up to now) has been Direct Line and the AA.

(Although the AA tried to tell my husband that he needed PPI on the loan and wouldn't take no for an answer so we hung up and redialled to get another operative!!) That makes them sound crap now doesn't it! But they gave us what we wanted at a very competitive rate...

 

Good luck!

[wiosna30]

Hi Gyzmo,

thank you for your help, I think to go and ask to Black Horse, but I dont know how is working this, where should I go first, to Black Horse ask for a Loan or find a car and just after, because what happened if I will have a car and they say "sorry"?

Have a nice day

[wiosna30]

hi Gertie100,

 

I know that, the best way is personal Loan but they dont want give me, I asked, but no way... not 12,000.00 if I dont have nothing, no home, no mortgage,( rented flat) only full time job. :(

[wiosna30]

Hi Ul,

Tks for that.

Can I go to the website and check what kind of cars they have now? (Birmingham)

[Chesterexpress]

(they have a car showroom in Birmingham where they sell off all the ex Lloyds company cars)

 

Black Horse car sales actually sell off cars which have been leased out by Lloyds group companies. Whilst some may have been used within the Lloyds group, the vast majority have been leased to outside businesses of all descriptions.

[LJL]

Hi,

 

www.blackhorsecarsales.co.uk

 

I bought an Audi A4 Cabriolet from there a few months ago and was very impressed.

 

I hate being sold too, these guys do not try the usual used car sales man techniques, I asked for a test drive, the salesman got out afterwards and said 'if you are interested or want to drive another, I'll be in the office' which was brilliant.

 

All one previous owner, FSH and in good nick at going rate prices (they dont haggle!).

 

The salesman said to me when I picked the car up that a lot of people dont even view the cars, they just order over the telephone or online as they have such a good reputation.

 

Let us know how you get on...

[wiosna30]

Hi

Yesterday I found a car on Mercedes Dealership website, they are using Black Horse Finance, I gave him all my details and still I am waiting for the answer, where usually it’s in less than an hour. What is wrong again??? I have European Driving License (full), maybe the problem is here? :confused:

[wiosna30]

HELP, NETCARS Finance

 

Who was dealing with Netcars? I would be very grateful for some information, I have applied for Car Finance, my application is approved now I can start looking for a car, before the paperwork will be sent to the Dealer is a £149 finance deposit .

Can I trust them?

[Conniff]

They are a broker and not a finance house wiosna. The £149 is their fee and you wont be guaranteed the 7.0% rate they have quoted on their site, especially if you have had trouble in the past or your credit score is low.

 

The fee will be payable whether they get you a loan or not, or if you should decide not to go ahead with it for some reason

 

I would try a finance house direct instead of going through a broker who is more interested in how much commission he can make than getting you the best deal.

 

Approach the garage directly and see if they can get the finance you want, I am sure you will get a better deal that way.

[rory32]

If you google them you can find on-line reviews of this company. It's rather a mixed bag with some people finding they could get a better deal elsewhere and others having problems with their customer services.

[wiosna30]

thank you but really I dont know what should I do?

I asked my bank First Direct for a personal loan and they say “no”, because I have already:

- a personal loan and outstanding balance 1,100.00

- Visa - balance 1,500.00

- Another Visa (Capital one) – 1,000.00.

- Two store card (total 700.00), but I am easy able to cover the payment for it. (Monthly: 2,600.00 after tax, no children)

 

I asked NatWest as well and they say the same. My income now is not a small, I have a permanent contract, and 50 hours per week, now will be 1year on my current job, before 2.5 years on another place, about 3 years - the same address (2.8months)

Firstly, I should say that I honestly have never ever had any finance problems, I've always paid my bills in full and on time, for all payments I have DD, I had just 3 delay payments, but it

was just maximum 3 days and 3 in areas on last 4 years, but it wasn’t my fault , I am on the electoral roll, I never had CCJ's, I never been on the court, maybe because I don’t have the mortgage account only I a rent a flat ?

 

I asked two times Dealers as well but I didn't have a UK Driving Licence only Europ. Now I have but still I am not sure if I can get a loan

[Conniff]

You need to think further ahead wiosna. Looking at what you owe is not massive compared to some, but what if you are unable to work due to an accident or illness, could you keep up the payments on all of them and a new loan as well.

The last thing you want is to spoil your good record.

 

Personally I would suggest that if you need a car, then go for something cheap that you can afford to pay cash for. There are some cracking little cars out there that have been part exchanged.

 

If your not sure about inspecting and testing what you fancy, then get a friend who knows about cars or ask a mechanic at a local garage to have a look for you.

But above all, make sure anything the seller says in favour of the car is written on paper, and don't just take their word for it.

[wiosna30]

I can’t understand only why they didn’t approve my applications? now, dealing with Netcars I am not sure if they can do something for me

[Conniff]

Your application hasn't been approved, Netcars has accepted it, they will accept all applications and then go and find you a loan with someone, even if it was at 99% interest.

 

They charge you for the pleasure of doing what you could do yourself.

[wiosna30]

OK, thank you for information,

You right, I can do it myself, I didn’t know how they are working. Yesterday I have received ready Loan Agreement to sign from Ocean Finance (personal Loan), APR 17.40% - £10.000, I think is a better option than car finance