M&S car loan

ILW

I think they probably penalise potential borrowers for being financially stupid enough to pay good money for these credit scores.

ILW

twins2 wrote: »

Gosh guys you really don't get it do you? How bitter and twisted. A fair question and not one of you able to actually answer decently.

What question?

DCFC79

bankhater_1965 wrote: »

can someone pleassse tell me why its unacceptable to save up for a car or buy one thats within your meens for cash ??? thanks

Thats blasphemy around here,

dealer_wins

bankhater_1965 wrote: »

can someone pleassse tell me why its unacceptable to save up for a car or buy one thats within your meens for cash ??? thanks

Because since about the year 2000 we now borrow for everything, and dont worry about paying it back because "we can comfortably afford the repayments"

This is also true of countries and whole continents

bankhater_1965

dealer_wins wrote: »

Because since about the year 2000 we now borrow for everything, and dont worry about paying it back because "we can comfortably afford the repayments"

This is also true of countries and whole continents

fair comment , if you can comfortably afford to pay it back , does that meen that what you can afford to pay back on a loan isnt affordable to put aside and save up ?? or is it a case of living beyond your meens or i want it now , or my friend has got one i want one , or just like being in debt , sorry i just dont get your answer to the origanal question
yopu also say its the same for countries and continants there can afford to pay it back , i would be here all day listing what countries have defaulted on there debts , your answer isnt contructive in any way sorry
omg what a generation we have created
would younot think that if, or when you come out of work that if you bought an car for cash you will still be able to have rather than paying a loan off and having it snatched back , or do people not think that far ahead anymore ??

chris-j

Bankhater 1965, our whole economy is now based on people buying things they cannot afford on credit. It generally works because most people pay the money back but sometimes 2008 happens and the rest is history.
Problem with everyone saving for everything first is that we would have a big pile of cash sitting doing nothing while the people all over the world who make things would sit idle while everyone saved up, by the time they saved enough all the people who make things will have been made redundant or died and then they would need to employ/re-employ/train people to make the goods once everyone had saved enough. They would not keep up with demand or people would never save enough because they had been made redundant because everyone was saving up.
It's a horrible vicious circle.

Back to OP, don't pay a CRA for a credit rating assessment, you are throwing away good money.

bankhater_1965

chris-j wrote: »

Bankhater 1965, our whole economy is now based on people buying things they cannot afford on credit. It generally works because most people pay the money back but sometimes 2008 happens and the rest is history.
Problem with everyone saving for everything first is that we would have a big pile of cash sitting doing nothing while the people all over the world who make things would sit idle while everyone saved up, by the time they saved enough all the people who make things will have been made redundant or died and then they would need to employ/re-employ/train people to make the goods once everyone had saved enough. They would not keep up with demand or people would never save enough because they had been made redundant because everyone was saving up.
It's a horrible vicious circle.

Back to OP, don't pay a CRA for a credit rating assessment, you are throwing away good money.

OMG you are trying to justify it !!! and i apolagise for the failure of my generation

chris-j

Not trying to justify anything. We can bury heads in sand if we want, the reality won't change.

pheonixrising21

bankhater1965, can I ask, do you have a mortgage? If so, how is that different from a car loan? Now, I know a car and a house are very different things, especially in terms of long term value, but surely the premise is the same? Why have a mortgage when you can save and buy a house for cash? I assume you did this?

Just playing devil's advocate....

meer53

OP, the reason you didn't get the 6% is because although Experian think you're the bees knees, M & S don't. The problem you have is that Experian aren't lending you the money.

Bankhater - try using spellcheck.