Fowlers Finance Pickle!

hilly85

In regards to all the cars sold from fowlers
Many customers may or not be aware of the tracker that is fitted.
Too summarise it for you it is a pre payment/tracker that is fitted to all of there cars due too the customers they are selling the cars too.

They have no trust in customers with low credit scores and the pre payment meter is mandatory I'm afraid.

They send you a monthly code to keep your car running providing you have paid your bill on time and of course if you haven't they know exactly where you car is so if you don't pay you'll be waving to your car as it passes you by on the back of a trailer something of which they charge you for btw.

On a plus side of this once the finance agreement has ended and you have paid for the car in full they will remove the device for free.

If you guys have any questions on Fowlers Finance please feel free to ask.

Gaz83

hilly85 wrote: »

They have no trust in customers with low credit scores and the pre payment meter is mandatory I'm afraid.

To play devil's advocate for a second here - why should they?

People with poor credit histories have shown that they can't be trusted to borrow money.

If you knew someone who had borrowed from all your chums and defaulted, would you lend them money?

hilly85

Cracking how your judging a book by its cover ...
Perhaps we should call you " PUTIN ".

There are so many different reasons for a poor credit status
The majority that I dealt with in my short stint in finance is DIVORCE
as this can ravage your credit report.

Nowadays missing a water payment or tv licence payment can ruin your credit status

And one of the purposes of taking this type of low credit is to rebuild there credit status from the ground up.

Please don't treat the people who take this type of credit as the low of low "YOURE NO BETTER"

wiltsguy_2

hilly85 wrote: »

Please don't treat the people who take this type of credit as the low of low "YOURE NO BETTER"

couldn't have put it better, i earn £50k, my wife earns £25, we have a combined debts of £900, of which i will clear in May/June, i have never defaulted, no ccj's, always pay my bills,but i seem to 'poor credit'....although i would not use such a company.

Gaz83

hilly85 wrote: »

Cracking how your judging a book by its cover ...
Perhaps we should call you " PUTIN ".

There are so many different reasons for a poor credit status
The majority that I dealt with in my short stint in finance is DIVORCE
as this can ravage your credit report.

Nowadays missing a water payment or tv licence payment can ruin your credit status

And one of the purposes of taking this type of low credit is to rebuild there credit status from the ground up.

Please don't treat the people who take this type of credit as the low of low "YOURE NO BETTER"

Sit doon, sonny. I didn't at any point say that they were my views. Perhaps you should do a bit of reading and find out what devil's advocate means before going full Rambo.

David301

you seem to be poor credit, but you are not, you just aren't what a lender is looking for!

wiltsguy_2

David301 wrote: »

you seem to be poor credit, but you are not, you just aren't what a lender is looking for!

i havent applied for credit for over a year now, last time i did i was declined at don't know why! i own both our cars with no finance etc, on the electrol roll, only negative i could think of is im in HM Forces and move regulary(every 3-4 years)

Pixie5740

hilly85 wrote: »

Cracking how your judging a book by its cover ...
Perhaps we should call you " PUTIN ".

There are so many different reasons for a poor credit status
The majority that I dealt with in my short stint in finance is DIVORCE
as this can ravage your credit report.

It doesn't particularly matter why someone misses payments. All lenders are looking for are patterns and assessing the risk. Someone who borrows money and fails to pay it back in accordance with the terms agreed is a higher risk than someone who makes repayments in full and on time.

It's a case of judging people by their past financial management.

hilly85 wrote: »

Nowadays missing a water payment or tv licence payment can ruin your credit status

Do you have any evidence to support this claim? If there is any truth to it then ensuring you pay your bills on time would be the best way to avoid it from happening.

hilly85 wrote: »

And one of the purposes of taking this type of low credit is to rebuild there credit status from the ground up.

Buying a car from these types of companies is a ridiculous way to improve your credit file.

1) The cars are more expensive than if you bought them elsewhere.

2) The finance is expensive.

3) You're borrowing money to purchase a depreciating asset.

4) There are much cheaper and more effective ways of improving credit files.

hilly85 wrote: »

Please don't treat the people who take this type of credit as the low of low "YOURE NO BETTER"

People who take this type of credit have a poor understanding of finances otherwise they wouldn't touch companies like Fowlers with a 10' barge pole.

David301

Pixie5740 wrote: »

People who take this type of credit have a poor understanding of finances otherwise they wouldn't touch companies like Fowlers with a 10' barge pole.

Some people just want a car and don't have any money, some people would rather have a car that they perceive to be newer and better than an old banger which they could buy without finance.

Fowlers and such companies exist because of the "want it now culture". Saving up and buying things seems to be a long gone idea now!

Pixie5740

David301 wrote: »

Some people just want a car and don't have any money, some people would rather have a car that they perceive to be newer and better than an old banger which they could buy without finance.

Fowlers and such companies exist because of the "want it now culture". Saving up and buying things seems to be a long gone idea now!

Exactly. My brother's fiancee used one of these companies to buy a car (she didn't really need) that on a good day was worth £300 max. It only came to light when she lost her job. In addition to the extortionate finance and inflated purchase price she had taken out their insurance at almost £70 a month.