VT Hire Purchase at 50%? Is this true??

[Deleted User]

Well as part of a large question, I asked about hire purchase and was told the following;

Just noticed this part, seems you want to do a VT at the half payment stage? if this is the case then although it shouldn't impact on your record it does show up as a marker on your file. Some lenders will choose not to lent to you because of this, while it shouldn't matter, I know it does because a friend did this and couldn't get anothe car because of it for years.

So is this true???

Tixy

Is what bit true?

(as the quoted part seems a little contradictory and also doesn't necessarily seem to be different from what you have stated yourself).

There are some people who regularly VT their cars and are able to get new ones on HP.
Perhaps your friend had other issues that meant they were declined for future HP applications?

[Deleted User]

Tixy wrote: »

Is what bit true?

(as the quoted part seems a little contradictory and also doesn't necessarily seem to be different from what you have stated yourself).

There are some people who regularly VT their cars and are able to get new ones on HP.
Perhaps your friend had other issues that meant they were declined for future HP applications?

Sorry I should have explained, I was talking about doing this on another forum, I got the response quoted above.

So now my question is can this cause a negative impact on my credit report, is it a bad thing?

Thanks again