Nationwide Car Loan

Tara71

I applied 2 weeks ago for a £6000 car loan at Nationwide (I'm banking with them for about 1.5 years) over 5 years at their branch. Unfortunatelly, there wasn't an authorised person to process the loan, but a trainee who was limited at filling in the paperwork. That part's been done, but since then I haven't heard back from them. Does anyone know how long it takes to get an answer wether you've been successfull or not?
Never missed a payment, no debts on CC, stable job and address.
Cheers, Tara71

Rafter

Should be quicker than 2 weeks.

Suggest you give them a call. Were you given a reference number for your application? Have you signed an application yet?

R.

Tara71

Rang them up today and unfortunatelly they declined it next day after I applied for it because of affordability and not because of credit rating which they said it was good. The assistant said that with what I'm left over after paying the monthly expenses including the loan, I could not afford other payments (going out, leisure, etc.), although in my eyes I could, but there you go....
I also asked her how long I'd have to wait until I'd fill in another loan application without affecting too much my credit rating, but she didn't come up with an answer.
Thank you very much for your help,
Tara71