applying for hp /car agreement

~Brock~

paulmcerlean wrote: »

If its the forth or fifth lender the dealer has tried it will not be one of the mainstream finance houses such as Santander, Blackhorse etc... (they will always try these first as they offer the best rates, but with harder acceptance of course), so the OP should be very careful to look at the APR being offered by the alternative finance company found - generally speaking, in the land of car finance, it is only the adverse lenders who want copies of bank statements, proof of affordability etc... and they will hit you with a stupid APR to boot.

A couple of observations in response to this.

1. If, after a few successive declines, this lender is wanting to see copies of bank statements, then just perhaps they are one of the few left that are prepared to let the borrower put their side of the story across and not to just rely on the impersonal nature of a black and white decision based upon a score, which by its very nature tends to make many statistical assumptions that are not necessarily true of the individual applicant.

2. I suspect that you will see many more lenders - including those mentioned above - requesting such information in the future, and that you read up on the OFT's Irresponsible Lending Guidance (particularly Section 4) as my reason for stating this.

I think that some respondents may need to take a slightly less indignant view of any lender who is simply making efforts to both make a responsible lending decision as well as comply with the expectations of their regulator.

angel_snowfey

agree with you

PNPSUKNET wrote: »

If I was you, give it 3 months