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  • FIRST POST
    • Hannah Maclean
    • By Hannah Maclean 13th May 19, 4:34 PM
    • 1Posts
    • 0Thanks
    Hannah Maclean
    PCP car finance help!
    • #1
    • 13th May 19, 4:34 PM
    PCP car finance help! 13th May 19 at 4:34 PM
    Hello,

    I'm looking at getting a new car on PCP finance, repayments are very affordable and our financial situation can afford it. However two weeks ago my partner and I took out a personal loan for 7500. We did a debt consolidation to reduce another loan we had to reduce our interest (Apr rate) and no extra borrowing was requested. I have never had any defaults and have always paid my debts on time.

    I'm wondering if applying for this loan two weeks ago will affect me applying for a PCP or will I have to wait? With it being a joint loan I am concerned with it being so soon with the hit on my credit score and the outstanding liability we have with the bank will prevent my acceptance. I don't really want to get declined for PCP! Any help is appreciated!
Page 1
    • zx81
    • By zx81 13th May 19, 4:42 PM
    • 22,429 Posts
    • 24,570 Thanks
    zx81
    • #2
    • 13th May 19, 4:42 PM
    • #2
    • 13th May 19, 4:42 PM
    It depends on affordability and your credit history (not the pretend score).

    But if you've already needed to consolidate debts, lenders will be viewing you as higher risk.

    How about getting an older car for cash?
    • Mr.Generous
    • By Mr.Generous 13th May 19, 4:47 PM
    • 2,467 Posts
    • 3,671 Thanks
    Mr.Generous
    • #3
    • 13th May 19, 4:47 PM
    • #3
    • 13th May 19, 4:47 PM
    Pay off your other debts before you get a new car, its a 'nice to have' not an essential.
    • Bermonia
    • By Bermonia 15th May 19, 6:07 AM
    • 698 Posts
    • 538 Thanks
    Bermonia
    • #4
    • 15th May 19, 6:07 AM
    • #4
    • 15th May 19, 6:07 AM
    How what works?
    • bigisi
    • By bigisi 15th May 19, 8:27 AM
    • 598 Posts
    • 1,104 Thanks
    bigisi
    • #5
    • 15th May 19, 8:27 AM
    • #5
    • 15th May 19, 8:27 AM
    How what works?
    Originally posted by Bermonia
    He's post building for spam, just ignore 'him'
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