Re: Refused car finance?

No, but any car dealer with a scrap of intelligence would either make *sure* that the cambelt had been changed, or if it was due, sell the car with a new one fitted, or advise the customer to get it done ASAP. A lot don't, but it'd be within their interests, as the cambelt *could* snap within as little as a few days after the customer buys the car, and that would be very highly likely to show the car as unsuitable for the purpose.

I have also found that with these, 'pay nothing for 12 months and no interest if you pay in full' schemes, that if you are obviously the type of person who *will* pay it off in 12 months, they tell you that the finance company are refusing to allow credit to you. This happened to me with a TV/video package in Comet a few years ago. When I phoned the finance company direct and demanded to know why they had refused me the deal when I had a perfect credit record, they denied having made the refusal and said there must have been a misunderstanding. When I went back to the store the salesman said it happened all the time. The credit company don't want customers who will actually pay off the deal - they want the ones who don't and who will then be paying around 30% interest!!

Kev

The message from Adrian contains these words:

Sorry - the one about Yes Car Credit? Mole went in and showed them from the inside for the shysters they are.

The message from Steve Walker contains these words:

Different programme, something like Whistleblowers or somesuch.

I heard somthing about a Stevie Wonder service :O)

Well, what can I say........ perfect description

Did anyone see Chewin the fat a while ago, I heard they did a piss take called "Aye car credit"

LOL - brilliant. That's one of many comedy shows that's been absolutely brilliant but was never appreciated that much - same goes for Big Train, and more recently, Paul Whitehouse's new show "HELP" on Sunday nights on Beeb2, which is just superb.

In message , Uno Hoo! writes

Doesn't surprise me. Bit like the mortgage lenders and credit card companies worrying about "interest rate tarts".

PC World have obviously had this problem (more specifically, HFC bank via PC World) as they now charge an 'admin fee' if you pay off the balance within your interest free period. On a £150 loan for example this would work out more expensive than their normal finance at 29.9% APR paid within off in full within the same timescale!

Darren

That'll be a quite legitimate way of getting rid of the customers they don't want then. Shame for the people who can pay it off and use it just to get a few quid extra interest on their money by leaving it in their account for 6 months longer, but at the end of the day, you don't get owt for nowt in this world, and the finance companies didn't set up those offers with people that won't make them any money in mind.

It's reaching a stage where people who can pay cash end up paying more! 3

1/2 years ago I bought a leather suite from DFS. I could have paid cash - but there was no difference on price whether you paid cash or went on their 'nothing to pay for 12 months and then 3 years interest free credit'. Now I'm not stupid enough to believe that they actually are providing 4 years interest free credit - the loan costs are included in the price. But this means that those who pay cash for a DFS suite are paying interest charges even when they are not taking the suite on credit! It's been a bit of a drag paying out monthly over four years (six months to go!!) but in the end I've been earning interest on the money that could have gone straight to them.

Kev