Cahoot no longer offering loans??

brody77

Hi all.

As my car is reaching the 3 year "give back or buy" mark, I logged into cahoot to look into getting a top up loan to buy it.

However, there's no longer that option - instead I get a loan page referring me to Abbey??

How does this work - am I automatically linked as an Abbey customer, or would applying via Abbey cause me all kinds of grief?

The last thing I want is to give back the car & walk away empty handed, as it's worth at least 1 1/2 grand more than the final payment.

Thanks in advance

happyformonths

Hi,

Can't offer much advice I'm afraid, just wanted to say yes, Cahoot have stopped offering loans. Their parent company (Abbey, as you know) has decided they're not worth it, for whatever reason.

Anyway you're best off out of it: Cahoot were/are upping people's flexible loan interest rates by many percentage points in one go with hardly any notice.

Good luck; sorry I can't be more help.

HFM

brody77

Thanks for the info - mine was a fixed rate loan, I guess if I get another loan my problem will be cancelling cahoot, as I hear that's a nightmare!

MW84

brody77 wrote:

Thanks for the info - mine was a fixed rate loan, I guess if I get another loan my problem will be cancelling cahoot, as I hear that's a nightmare!

seems a sensible enough process by just going to the online settlement screen?

I'm looking at "topping up" my loan with Cahoot? How will this work? Will I need to re-apply with abbey or what? rather confused...