Blackhorse PCP on an Audi

Jenn_Ronnie

Hi,

Has anyone with a 'Poor' credit file been accepted by Blackhorse for a PCP contract? (At the time, I had a couple of default accounts that needed seeing to) However, I was approved by Blackhorse last summer on a brand new VW Polo £15,000+ with a decent size deposit, then I re-thought my options on the car, and have now made up my mind on the car that I want, which will be £5/6000 more (Audi), but with a £2500 deposit, and I NO longer hold any default accounts on my profile, everything has been paid off, and have even taken out a credit card, with no late payments.

Does anyone have any advice on their experience on seeking credit from Blackhorse or has any advice?

chanz4

thing is your polo will be in deep negative

Jenn_Ronnie

Could you expand on the polo putting me in negative (even though I had changed my car options)

Ben8282

Forget the Audi. Forget the PCP. Get a loan and use it to buy a car that you can afford and which will actually be yours when the loan is repaid.

mrmagooooooo

Blackhorse Finance is usually an extortionate APR hence why they accept defaults and often CCJ's

Look for a better finance company or as mentioned above a loan for the car.

Have you considered leasing a car rather than buying a brand new one?

I have a Audi A4 on a 2 year lease that costs £178 a month. Was less than the depreciation would cost me had i purchased the car.

Do your homework on your finance though. Get a credit report and make sure all the defaults have gone and if it is all ok you should be able to get finance with one of the better companies. If your paying over 5-6% apr on a brand new Audi then you are paying too much.

molerat

chanz4 wrote: »

thing is your polo will be in deep negative

I think OP got approved but did not go ahead with the Polo.

Jenn_Ronnie wrote: »

Could you expand on the polo putting me in negative (even though I had changed my car options)

PCP is a nice way of renting a car you can't afford to buy.