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Car Finance
Looking for advice, I have completed the car finance reclaim tool for a number of my previous car agreements and my current one. I have just been declined for a PCP on a different car by three companies including the company I have my current PCP with. I know on the website it says we won’t be blacklisted for submitting a claim however, I’m struggling to understand why I have been refused. The payments are lower than my current PCP and I’ve never missed a payment for anything!
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They don't think you can afford it based on your income, existing debt and credit record
Why not pay off the PCP and keep the car as is the MSE way?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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The lenders may be assessing the new PCP as an addition to any existing debt, including the current PCP.kanne1 said:Looking for advice, I have completed the car finance reclaim tool for a number of my previous car agreements and my current one. I have just been declined for a PCP on a different car by three companies including the company I have my current PCP with. I know on the website it says we won’t be blacklisted for submitting a claim however, I’m struggling to understand why I have been refused. The payments are lower than my current PCP and I’ve never missed a payment for anything!2 -
Which website said about not blacklisting?kanne1 said:Looking for advice, I have completed the car finance reclaim tool for a number of my previous car agreements and my current one. I have just been declined for a PCP on a different car by three companies including the company I have my current PCP with. I know on the website it says we won’t be blacklisted for submitting a claim however, I’m struggling to understand why I have been refused. The payments are lower than my current PCP and I’ve never missed a payment for anything!0 -
I'd assume MSE are taking the line that a lender cannot directly punish you for putting in a complaint though nothing to stop them keeping an internal list of people they don't want to deal with of course!DullGreyGuy said:
Which website said about not blacklisting?kanne1 said:Looking for advice, I have completed the car finance reclaim tool for a number of my previous car agreements and my current one. I have just been declined for a PCP on a different car by three companies including the company I have my current PCP with. I know on the website it says we won’t be blacklisted for submitting a claim however, I’m struggling to understand why I have been refused. The payments are lower than my current PCP and I’ve never missed a payment for anything!
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Nasqueron said:
nothing to stop them keeping an internal list of people they don't want to deal with of course!DullGreyGuy said:
Which website said about not blacklisting?kanne1 said:Looking for advice, I have completed the car finance reclaim tool for a number of my previous car agreements and my current one. I have just been declined for a PCP on a different car by three companies including the company I have my current PCP with. I know on the website it says we won’t be blacklisted for submitting a claim however, I’m struggling to understand why I have been refused. The payments are lower than my current PCP and I’ve never missed a payment for anything!This is true. Any company is at liberty to choose not to do business with anybody, just as long as they're not discriminating based on a "protected characteristic" (age, gender, race, sexuality, etc).Must admit, it seems odd that the OP is wanting to take out yet another PCP arrangement when they've been unhappy with and complained about all/most of their previous ones
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Indeed, I think AmEx are (in)famous for doing this - holding records of defaulters for long after the 6 year records expiredCliveOfIndia said:Nasqueron said:
nothing to stop them keeping an internal list of people they don't want to deal with of course!DullGreyGuy said:
Which website said about not blacklisting?kanne1 said:Looking for advice, I have completed the car finance reclaim tool for a number of my previous car agreements and my current one. I have just been declined for a PCP on a different car by three companies including the company I have my current PCP with. I know on the website it says we won’t be blacklisted for submitting a claim however, I’m struggling to understand why I have been refused. The payments are lower than my current PCP and I’ve never missed a payment for anything!This is true. Any company is at liberty to choose not to do business with anybody, just as long as they're not discriminating based on a "protected characteristic" (age, gender, race, sexuality, etc).Must admit, it seems odd that the OP is wanting to take out yet another PCP arrangement when they've been unhappy with and complained about all/most of their previous onesSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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I’ve not said I was unhappy with any of my previous agreements or my current one. I used the tool to see if I paid more than I should have, exactly the same as thousands of other people.0
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