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Disappointing APR offer

Legocar · 2023-09-15 13:52:54

I've applied for a loan to buy a car from First Direct. Although the loan amount is high, my credit score is 999 and the repayment affordability check came back clear. They're advertised APR for the amount I wanted to borrow was 6.4% (slightly higher than the best rates out there but I already bank with them and foolishly…

Comments

MorningcoffeeIV Posts: 1,945 Forumite

21 September 2023 at 4:17PM edited 21 September 2023 at 7:03PM

Yes.

1) Ignore your credit scores. They have no bearing on getting credit.
2) Get your existing loan cleared. You're in debt and looking for more - that's not a good look
3) Check all our you credit files to see what else appears on them
4) Consider shortening the term. 7 years is a hefty chunk of time.

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