How soon can you apply for banks/sim contracts etc after being accepted for car finance

xlnc99

As the title suggests, once you have been accepted does it make a difference? Will they rescind your offer if you start having hard searches on your file. Will they even know about it? Same question applies if you have been accepted for a mortage

Willing2Learn

I don't think that having car finance will have a negative impact on opening an everyday bank account or SIM-only mobile account.

xlnc99

No my point is if i have been accepted for car finance, signed and approved. If i then apply for credit after, i.e sim contracts, credit cards etc. Could they rescind their offer within14 days? Will this worry them? Same question applies if you have a mortage offer. Do they get real time updates of the credit you applied for after you been accepted

Willing2Learn

Well, once you have signed on the dotted line, had the motor finance approved and have driven off with your new car, then the contract is a done deal. Making further credit applications after that will not make any difference.

But I think you are way overthinking methods to improve the data recorded on your credit file. I think that generally, your posts indicate that you are probably making far too many credit applications over short periods.

And happy Christmas

xlnc99

Approval, ID and signatures have been done. There is a wait time for delivery and either party can cancel within 14-28 days i believe. So until the car is in my possession then as far as i am concerned its never a done deal. The contract does not start until the car has been delivered according to the terms.

So right now, this isnt a question about improving credit files this is whether they finance company can rescind its decision if you start making applications after you have been approved. Will they actually know about the searches after you been approved? And if so is it real time or month by month basis

Happy Xmas to you too

Willing2Learn

I would agree, that until such time as the car has been delivered, your credit application could be declined. Personally, I would wait for the car to be delivered before making any more credit applications.