Cancelling A Loan

jafo666

Hi everyone,

On Friday i was offered a car which seemed a little to good to be true, and guess what it was.... Not the sellers fault though he didn't actually know the specifics about the car and thought it was a certain version it was not,

I applied for the loan Friday evening with Natwest and was accepted online, went to view the vehicle Saturday and it isn't what i want. So i've done a little research and think i am within my rights to cancel the loan within 14 days.

However at some point this year i am going to want a loan but for a bit more money, will cancelling this loan affect me being accepted lets say in a few months time? Because if it does i will keep it and save the rest myself?

Thanks

UsetheFORCE

A search will still stay on file BUT the account should be treated as though it didn't exist.

This shouldn't really affect you applying in the future but not sure if it would affect you if you tried to get the loan off the same lender (i.e. Natwest).

Personally, I would just keep the money in an account for now and use it in the future when you have found the vehicle you want.