Mail dealer finance vs Experian generated options

AJ84

Hi all,
I keep typing my query and then rewriting it !
In short, it seems everytime I have taken out car finance via a main dealer, it's been around the 10% apr rate.  
Experian has generated a 100% chance with My car credit (7.3%) and Tesco at 90% at 3% rate but both with "rates may vary" 
Are these secured to the car and if they are, are those as likely to go through as the dealership one would?  The search was under the Car Finance header but could not see if they're secured and did not want to click on the view and apply link if it just went ahead and applied.
Between the 7 and 10% there is a small difference so I would probably just stick with the dealership as the company car allowance would cover it but the 3% to 10% is obviously a huge difference but at 90% chance, I don't want to apply if in realistic terms, this will be closer to 10%

It's annoying as I'm sure Tesco was higher chance last night but my overall score dropped by 16 points putting me back in the Good (from excellent) and so I suspect this has a bearing on chance rate with the Experian searches?

Thanks all - going to stop typing as I'm probably over thinking this now

[Deleted User]

The loans will almost certainly be unsecured. It would be worth one application to see if can get a better rate.

Your 16 points of pretend credit score has no bearing on your acceptance or credit worthiness, so don't be concerned by that. 

AJ84

Thank you - sorry for the late reply, I have no idea why it did not alert me to the reply.
When you say it would be worth one application - do you mean out of the My Car Credit or Tesco?  And if so, would you recommend just going for the Tesco one given it is a lower rate but at 90% chance or the other one at 100% chance with an already slightly higher rate?

[Deleted User]

What is your credit history like?  The danger with going with the best rate is that your history is a bit patchy, you may be downsold to a higher rate.

Check all three files (the data, not the scores).

AJ84

On the whole its fine - I know scores are not important but we do use it to gauge the ups and downs of what is going on with the data.  A fair bit goes onto credit cards and by the end of the month it all comes off - it's how we use our Amex cards for points etc so its constantly up and down + the mortgage which obviously goes down month on month.
Compared to when I got the current loan out for instance, all thats changed is overall debt just goes down be it mortgages or the loan.

Remind me on the others...equifax and credit Karma or...?

AJ84

Experian, Credit Karma and Transunion all match - nothing major and all show the same searches etc
Equifax I'll find out tomorrow as my account is locked and creating a new one still states I need to ring them so will sort this out tomorrow but suspect it will be the same.  So then its which one to apply for beyond the initial identity check!