Affordability Check

BCMPB

Ive just applied for pcp car finance on a bmw that i CAN afford the monthly payments on happily

I have recieved a request from the finance company to have access to my banking to do an 'afforadbility check' in which they say they will look at outgoings and income

In the past couple months i just so happen to have spent more than Ive had come in, just out of choice to do so, not out of being unable to afford my outgoings

Should I be concerned that the finance company will see the hard income vs outgoings figures for the past couple months and decline me? Or do they look beyond that at just major bills etc and not general one off spends

Thanks

northernstar007

me personally i wouldnt give them access to my bank acc, they can do a credit check

[Deleted User]

I would agree, but if in 12 months time you found you couldn't afford the payments would you blame them if they didn't do an affordability check? After all MSE is littered with people who do blame lenders.

Yahoo_Mail

They can ask pretty much whatever they want of you.  You're asking THEM to lend YOU money.

Either give them access and maybe get declined or refuse and definitely get declined.

foxy-stoat

BCMPB said:

Ive just applied for pcp car finance on a bmw that i CAN afford the monthly payments on happily

Look no further, as you put "CAN" in capitals that MUST be TRUE.

Good lucks

BCMPB

I mean its cool if you dont know the answer to whether they look at general recent spend vs just reoccuring bills, but then just dont reply, theres no need to give arrogant patronising comments if you just dont know the answer to my question

[Deleted User]

BCMPB said:

I mean its cool if you dont know the answer to whether they look at general recent spend vs just reoccuring bills, but then just dont reply, theres no need to give arrogant patronising comments if you just dont know the answer to my question

if you ask a question on an open forum be prepared for any answers you might get, at least people have taken the trouble to answer, but if you want the short answer YES