Car loan - deposit paid

ch0ps

Morning guys

I hope this is the right place to post this.

I have bad credit and decided that me and my dogs needed a bigger car so after speaking to Express Car Credit, they took me through some questions and finally said I had been approved and they needed £250 deposit to secure the car that I had said yes to.
Yesterday it was all ready for me to go down to Birmingham, sign the paperwork and drive away for today.

Then the actual loan company called me and said I had been declined. I guess my question is because Express Car Credit said they had secured the car and the loan had been approved, does this mean I am due my £250 deposit back. I sent that to them because they had told me it was all systems go.

Any help would be grateful.

Chops

ch0ps

This was my email asking him about the deposit.

Hi Jay

OK tell me about this £250 deposit is that to you guys or the finance company? Is it your fee for finding this finance company? If the company won't let me have this car, do I get the £250 back? Could the finance company still say no?

Also, is there no way we can get round me not having to do two trips down there?


Thanks


And this was his reply

Nothing goes to the finance company we source the finance and the car ourselves and all inspection reports go to the finance company.

The finance company have approved you on the basis of seeing all your proofs upon sign up day (all the proofs you have sent me)

The 250 deposit is fully refundable if you dont go ahead, I will propose the car once deposit is paid and I've already done HPI check myself so there shouldn't be no reason to say no, if they do we find another one they yes too.

The deposit is calculated into the finance

SeanG79

I would be cautious using this company.

Quick searches on the FCA website, show no authorized finance companies under the trading name "Express Car Credit", "www.expresscarcredit.net", "expresscarcredit.net" or under their post code "B44 8TA" as advertised on their website.

A quick look at their website and they don't display any FCA IP number which is required.

The webpages links for "Terms and conditions", "Privacy Policy" and "Cookie Policy" don't exist.

Face book and twitter pages were created in October 2013, with no activity in the last 3 months, their LinkedIn page has 0 followers.

They appear to have an Ebay store with minimal activity http://www.ebay.co.uk/usr/expresscarcredit1?_trksid=p2047675.l2559

All in all I would advise you exercise caution and be sure of what you are getting before you part with your £250

d70cw6

screams scam tbh