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Topic starter
26/02/2014 9:57 pm
Hi All
Time for me to eat humble pie having said last year that I would not need my credit history updated as I had no intention of getting HP as I had never had any in the past.
Was up early this morning (Wednesday) and had a look on the site and spotted a couple of posts about car finance and as I had been thinking about getting a car I went off searching.
Found a car on a site I considered to be reputable so I ticked all the boxes and sent off my application for HP.
Got a call from them about 11am with a few questions although I was expecting a thank you for your enquiry however you have bad credit history and we are unable to provide HP for you.
Much to my surprise I asked if they had searched my credit history as I have a bad credit history they said no they do not do that until I have completed the application and paid the deposit which if the HP is rejected is repaid in full. So application completed over the phone and deposit paid I waited for the rejection.
Better explain at this stage only one of my creditors has updated my information all other are showing as being in default.
Just before noon I had a call back GOOD NEWS my HP has been approved and would I be able to pick the car up tomorrow.[:)]
I did have a look towards the end of last year at getting a car from a roadside garage just to improve my rating but the cost of finance almost doubled the cost of the car this one is I think 4.2%APR which I think would be what was offered if my credit history was good.
Happy to share the details of the dealer with anyone if they message me.
Like everyone else on the forum I have found it to be a tremendous source of both information and support throughout the period of my TD and post TD as well
26/02/2014 10:05 pm
Hi lab,
That's really interesting to hear that you have been accepted for HP with your credit rating still showing the negativity from the Trust Deed.
I have a client at the moment who was considering a newish car as their old one was costing too much to run and becoming unreliable but they struggled to find HP at a reasonable cost. As you said some deals there were offered the amount of finance paid back was more than the actual car.
If you could share the information with me I'd really appreciate it as I could then pass this onto them to look into.
I'm sure your looking forward to picking up your new car tomorrow!
David is not currently posting in the Trust-Deed.co.uk forum
26/02/2014 10:08 pm
Well done lab. You must be very pleased.
As David says, I think people would be very keen to know the same of the finance company involved.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
26/02/2014 10:10 pm
Hi David
Yes I am looking forward to picking it up have been spending a small fortune renting almost every weekend. Should I send the information clicking on the contact button?
26/02/2014 10:21 pm
Hi lab,
If TDA is happy for you to share directly on the forum then this could be better for everyone to see as it's always a topic which comes up on the forum.
I hope tonight isn't a sleepless one thinking about picking up the new car tomorrow.
David is not currently posting in the Trust-Deed.co.uk forum
26/02/2014 11:14 pm
Hi lab/TDA
That's an interesting development, although it's obvious from the forum that obtaining credit is never an exact science.
I suppose there's a danger of the site turning into an advertising forum for credit providers, although on the flip side, even for us, it would be interesting to see which companies are more flexible than other.
I'm still waiting on my McFadyen Motors link on the site! Ha!
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
27/02/2014 5:19 pm
Or how about Mark's McFastYins?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
27/02/2014 9:44 pm
hi lab/all experts,
i would be really keen to know the name of the company? new car desperately needed.. but thoughjt the only way was to pay exhorbitant interest rates
much thanks in advance
27/02/2014 10:21 pm
I'm not sure whether I was clear when I last posted.
There's no problem at all with sharing the name of the firm here.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds
27/02/2014 10:31 pm
thanks TDA. hopefully lab will want to share 🙂
27/02/2014 10:34 pm
It may be a while before Lab shares the information as I suspect he's out putting miles onto the new car and enjoying it!
David is not currently posting in the Trust-Deed.co.uk forum
27/02/2014 10:36 pm
ha ha..
bet it feels great! 🙂
10/03/2014 8:00 pm
Hi lab
Have you stopped driving yet to share the name of your new lender
Come on, it's good to share
Topic starter
11/03/2014 7:41 am
Sorry people I have not been driving all this time but I have been thoughtful about posting the detail would hate to be a contributor to someone getting into debt but I shall post the detail this evening just to make sure I tell all I had been monitoring my credit report on Noodle with no change however the credit check was done through Experian came back good will post the detail this evening
22/03/2014 8:03 pm
Hi lab
Ready to tell all?
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