Money Barn - Providing Car loan without checks

ThisnotThat

Gycraig said:

There is no legal requirements to do an affordability check for a loan. Companies can choose to do it or choose not to do it, I have never done an affordability check personally for any purchase including a car they simply asked how much I earned. 

I sell furniture and do credit checks every day we only ask for yearly income.

Unless they have lent you a massive amount on a small wage I can’t see what more you can expect . 

Just because you haven't been asked to cart in reams of statements, wage slips and all manner of other pieces of paper doesn't mean there is no affordability check.  A credit check is an affordability check and maybe all a lender needs to assess affordability.

In the OP's case, their entire complaint seems to be that the check was not done (and they don't even know that for a fact.)  They're not going to get anywhere with that, as they were told.

As the complaint would be unaffordable lending (at the time of taking the finance out, not some years later after a global pandemic) with lack of proper checks just being supporting evidence to that claim, and the OP has confirmed the lending was perfectly affordable, they obviously have no claim.

[Deleted User]

Deleted_User said:

The pay day loans complaint process based on the affordability (or rather, giving out unaffordable loans) is well established
https://www.moneysavingexpert.com/reclaim/free-payday-loans-refunds/ 

This is just one industry. Sadly.
I recall when I worked in rental for the unemployed and low income, we simply used to ask which benefits were on and no more.
We had a consumer credit license.
Lending of rentals (not rent to own) just worked on how people spoke to us. 
Recently I brought a band new hoover from my first wage when back in work for £99.00 (tried for second hand from a commercial clear out but 6 minutes to late in queue to buy for £30) 
I was a bit dim at first but those poor unemployed people are stuck with a yearly cost of nearly £300.00 for the same hoover type BUT they do receive repair care if up to date on payments. 
I don't imagine they will experience the same coverage like the PDL reclaim scene for some time.

CKhalvashi

ThisnotThat said:

tommo278110 said:

Nothing was done online,  I did not fill anything out in regards to an application, they used to drivers licence as ID.  Also this was about 3 years ago now. Also a credit check does not show your goings 

No, it doesn't but there are standard formulas to calculate people's outgoings.

Presumably, you told them what you earned?  And this was truthful?

You say you're struggling to pay it but is this a recent thing or have you always struggled?

This. My monthly CC statement is around £1000 (paid in full), so averaging with everything else, you can work out roughly what is left at the month end.

This is an affordability check in its most basic form.