Car finance won't deal with the dealer selling the car for which I obtained finance...now what?

AntonyW1978

After much searching I found a car that fit the criteria in a car search site. On the page was a link to get a quote for finance promising a soft search. I didn't twig that further down the line this seemingly became a hard search, the first  i was aware of this was when the finance guy got in touch with a live quote and i asked them to confirm if it was.

All the info they asked for was the same stuff i was asked when setting up on clear score so, didn't think it would be a full on credit check. Didn't spot it in the small print.

However, they only deal with "reputable dealers" and despite the reasonable size of the dealer and their FCA registration they won't do business with the dealer selling the car i had lined up. 

Now i'm stuck having to find a car from one of their pals at a much higher interest rate than they advertised for my credit score. And a few £££s per month more than i get using a loan calculator at that apr. Seems a bit of a spiders web. 

How bad will this affect things if I apply somewhere else or any alternatives? He even went to the effort of finding me a car two hours drive away with double the mileage of the one i applied about and seemed put out I didn't want to go ahead sight unseen.

Clive_Woody

Sounds dodgy to me, they want to sell you finance and a car. I would walk away from them.

Anything  in your credit history that would prevent you going to your bank for a loan (or checking the loan checker on this site to get an indication of who might lend you money)?

AntonyW1978

I'm guessing they get a nice kickback from their mates so they want you to only buy from them.
It's a seemingly big company in Scotland.
My credit score has taken some rebuilding following a messy divorce to someone who never had credit so everything was in my name. 10 years later and it's fair-good. 

Unsecured loans tend to be higher APR than those secured on a car.

My worry is the impact it will have applying for more credit somewhere else.

[Deleted User]

It's just one more search.  Nothing to worry about in itself.

DrEskimo

Yea ignore this company and walk away. No harm in applying for another unsecured loan elsewhere. 

Of course an alternative is to not use any finance.
Is there a reason you are looking to buy more than you can afford right now? Is it possible you could wait and save the loan repayments over the next year or two and then buy the car you want? The amount you save in interest could go to buying a slightly better spec of the model you want.

Otherwise, could you get something that does what you need with whatever money you have saved today?