credit crunch biting ?

butch_dingle_2

I am a bit sceptical about all this credit crunching going on - anyway I had an experience today which i found a bit concerning.

I am 2.5 years into a 3 year HP agreement with Capital Bank (now just called Bank of Scotland). I have decided to change my car, and phoned up for a settlement figure. Once I got that, they asked if I was financing another car and could they give me a quote. I said sure, why not.

I was then transferred to another department who asked me "did I have a bank of scotland current account". i said no, but I am an existing customer. sorry she said, current policy is that we are only lending to BOS current account customers.

I am surprised I havent read anything about this in the doom-mongering press actually. Capital Bank are one of the biggest vehicle finance lenders in the UK. If they are pulling up the drawbridge, then we really might be up the swanny.

i have therefore decided to "stick" and enjoy at least a couple of years of payment free motoring....

swaninn

I agree, i think this is the next stage, first Sub-prime mortgage lenders pulling products (I cant remortgage with my lender because they are 'offering no new products') and now car finance, looking grim.......also why not get a BOS current account?