Will I get accepted?? Help Please

jonesMUFCforever

007mk4golf wrote: »

appreciate the advice.

but after reading up about hp, there is a thing called the half way rule or something like that which means that half way through the contract (just say 2 years out of a 48month plan), you can just hand the car back and not be charged any settlement fees.

i actually work for the car dealer i am planning on getting the car from, so the financial manager has explained to me how it works, so lets hope God willing that i get accepted.

any more advice more than welcome :-)

What would be the point of that then?
You pay for a car for 24 months - hand it back you end up with nothing!
Really makes sense that!

fc123

007mk4golf wrote: »

6% flat is about just over 10% apr, which is good i think at 19years old. dont u think

:wall:
Enjoy the car is all I say!!!

jonesMUFCforever

007mk4golf wrote: »

ejones99 - thanks for the sarcastic comments again, u never learn. anyway, when you buy a car brand new what happens to it 2 years down the line, ermmm it depreciates, so u have lost ur money anyway. by getting it on hp ur in a way borrowing the car if u settle early (but not if u finish the full term as then it is urs) but ur paying for its depreciation plus a little more cos of interest and so on. so really whether you buy cash or by finance you will lose money either way, maybe a little more on finance but it makes it easier to control ur outgoings. when buying froma dealer on finance u get all the little extras aswell such as extended warranties chucked in, tax paid for and so on; maybe u pay a little more than buying privately but atleast u have got the law on ur side in terms of comeback on the contract.
am i right or not???????????? feel free to disagree ejones99, i know u will.

i work for the dealer anyway, so problems with the car arent an issue to me. but thanks for the advice anyway, much appreciated, :-)

would you believe it or not, here comes the good news. iv been accepted for hp on a new shape astra. just waiting for the paperwork to come through and job done. will post some pics up if i can.

got accepted at a flat rate of 6%, which at my age aint bad at all?

cheers for the advice guys, much appreciated.

It was not meant to be sarcastic - but it is fact that if you pay half of your payments for a car and then hand it back you lose not only the car but all of your repayments.
So what happens next? - You start all over again ( if you can get credit the next time round).

Absolute madness.
Work out how much it would cost you in bus fares - you would be quids in!

Tell you what that dealer is good!
He's completely brainwashed you.

nova

Hi ejones999,l appreciate your advice, you obviously know what your talking about, If it wasnt for people like you with your vast knowledge, people like me would'nt be able to start putting their finances straight, so Thanks

edindie

They do have a point mate, don't pîss off the people you're asking for help.

But there are many reasons why your loan could take a while to come through. Nationwide may have referred you for a more detailed examination due to your age or if you had an unusual number of recent searches (risk of fraud). There are many reasons.

Plus lenders have to give you the main reason that they declined you for if you ask them, although given the current obsession with hoarding cash it might just be that there is only so much money available!

jonesMUFCforever

007mk4golf wrote: »

ejones99 - u will have lost that money anyway due to depreciation.

anyways i have support from my family which is the main thing.

thanks for those who have helped.

c ya

You won't have lost out on everything would you though - you would still have a car at the end of the loan to trade in towards the next car.

If you have support from your family and you only need £1000 why don't you ask them to lend it to you?

jonesMUFCforever

Did you get the car?