Online loans advertised rates are simply a phishing con trick

foxy-stoat

nubian wrote: »

Wow you are very fortunate to run a car 174,000miles and hey that's great but it wouldn't be the experience of many people. I'd say most cars would be scrap metal well before that. anyway its all a bit off topic really but its her aspiration, her decision, her money. She has saved and has worked hard since Uni' and it maybe a decision forced on her by engine failure in her previous car, so the decision has come earlier than expected but she can afford the repayments and is about to be awarded a pay rise why shouldn't she? beginning to sound like the soviet union not free market Britain.

All this is fine.

What we all know now, if not already, is that low interest credit is not a right, never has and never will be.

Good lucks

nubian

foxy-stoat wrote: »

All this is fine.

What we all know now, if not already, is that low interest credit is not a right, never has and never will be.

Good lucks

I suppose its better than high interest credit though but I take your point, I did say to borrow a little less scale back the ambition but she is adamant, she can afford it. So just trying to get the best deal for her.


Cheers for your comments though, much appreciated and od luck to you too

foxy-stoat

nubian wrote: »

I suppose its better than high interest credit though but I take your point, I did say to borrow a little less scale back the ambition but she is adamant, she can afford it. So just trying to get the best deal for her.


Cheers for your comments though, much appreciated and od luck to you too

Arrrr she wanted a £20,000 car ay

Its all good - if she does end up buying it then get her to take out GAP insurance as well, just incase she has a total loss claim and it will drop in value faster than she can pay for it if its over 5 years at a medium interest rate.

DCFC79

BoGoF wrote: »

Ahhh.......the weekly "I didn't get the advertised rate so it's a scam" post

We haven't had 1 for a while so it was expected.

noh

nubian wrote: »

I suppose its better than high interest credit though but I take your point, I did say to borrow a little less scale back the ambition but she is adamant, she can afford it. So just trying to get the best deal for her.

..............

If she is unable to get an unsecured loan at a low rate the next best thing would be to look at the finance deals offered by the car manufacturers.

Assuming she has a deposit and is looking to buy new.

Many are offering 0% or low rate finance with deposit contributions as well. They are much easier to obtain because the loan is essentially secured on the value of the car.
Use a site such as https://www.carwow.co.uk or https://www.drivethedeal.co.uk to get an idea of prices for various models and then if interested contact the dealer for a finance quote.

System

nubian wrote: »

Strangely they meet the criteria in both cases, they live at home for free have only a phone contract and both disposable income over £1000 one would pay £250 per month and the other £238 per month.

So to a lender they're actually a high risk because they have nothing to lose if they don't pay other than a trashed credit file. There is no property they own that a charge can be put against, the contents of the home they live in are not theirs so can't be seized by bailiffs and sold to repay a debt. They also must have quite a spend happy lifestyle if they have that amount of disposable income a month and still need a loan.

System

nubian wrote: »

Its because I care about the future for young people like my kids.

Wanting them to be able to get easy cheap credit and getting themselves in debt for years to pay for stuff they can't afford instead of teaching them to save is a funny way of showing you care for their future.

Samsung_Note2

Nubian i agree it makes a mockery of the APR and just last week i applied to my bank for a loan of £250,000 they stated an APR of 7% and when i done the full application they said sorry we will only do it if you agree to 2%.

Well what could i do or say..i was furious,so told them to stuff the account where the sun doesn't shine and close the account,i was highly offended and asked for an in depth explanation from the owner of the bank and demand it happened 1 full day before the application.

Yeah i sure showed them my dissatisfaction...they wont ever see my pension hit there account every month nor my 2 direct debits to the dogs trust,i fully expect them to go bust along the lines of Northern Rock now ive with drawn my business.

Telling ya its true if its not.

AstroTurtle

I agree! These advertisements are total scams!

Like when a shop sells something "From £99 but some stuff costs more!" IT'S DISGUSTING!!!!!

Sometimes i go to the poundshop and find an item that cost more than a pound! DISGUSTING!!!!!!!!!!!!

When DFS says Sale now on and sofa's are available from £333 but I find one that's £444!!!! ITS DISGUSTING!!!!!!!

When mobile phone offers are from £45 per month BUT IF I WANT MORE IT COSTS MORE !!!! ITS DISGUSTING!!!!

Like when loans say that the lowest APR is 3.9% BUT IM NOT ELIGIBLE BUT THEY STILL GIVE ME WHAT I WANT JUST NOT AS CHEAP AS I WANT ITS DISGUSTING!!!!!


Get over yourself. The financial services are not SERVICES they are commercial entities.... When will people realise that Banks, Lenders, Insurance companies etc are no different to Coca Cola or McDonalds or M&S. They are all commercial companies trying to make a profit and are not government or public services to make your life easier.

pmartin86

foxy-stoat wrote: »

credit is not a right, never has and never will be.

This should just be put up on credit applications. Would stop so much of this nonsence.