Unlikely to get a loan despite excellent credit and no debts

theoretica

LightbulbFlashing said:

Grumpy_chap said:

LightbulbFlashing said:

the only incorrect info is it shows I have a £4K loan out, which I don’t - I paid it off super quickly to avoid me paying stacks of interest 

That is incorrect info, but delayed info.  

If a Lender sees that you borrowed £3k or £4k in September, but not that you paid it back already, and then sees that you are after another £8k in November, it may appear to a Lender as though you are desperate for finance.

A Lender may also see the £4k borrowed, repaid, now borrow again as an indicator of poor financial planning.

A Lender may see the £4k borrowed and then rapidly paid down as simply unattractive business (all the costs to open and close the account but no interest to recover the costs against).

You may not agree with any of the above perceptions, but the Lender's view is in the eye of the beholder.  They give some consideration as to how a Lender may be viewing your credit file as less than attractive.

If you are saving £500 - £700 monthly, are you able to borrow from yourself (savings) and then repay to the savings account?  Alternatively, do your credit cards have sufficient facility to support this £8k car?
Or another lender - e.g. Dealer finance may be less stringent than the bank?

The issue is I paid off the money early through hard work and a bit of luck (the payout for the last car).

It reads as though you have been treating the loans a bit like a current account overdraft or credit card - pay off as soon as you can and then borrow more when needed.  If you had not paid the loan off, especially with the payout from the last car when the desire for a new car was so foreseeable, and smoothed your loan use out a bit more you might be finding things easier now.