PCP Vs Bank Loan & other questions.

2»

Comments

  • Bermonia
    Bermonia Posts: 977 Forumite
    First Post
    They most likely would.
  • bflare
    bflare Posts: 464 Forumite
    First Post First Anniversary
    Bermonia wrote: »
    They most likely would.



    So they are offering me 3% at the soft credit check stage & your saying they could push this up to 23.9%?
  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    First Anniversary Name Dropper First Post
    bflare wrote: »
    So they are offering me 3% at the soft credit check stage & your saying they could push this up to 23.9%?

    They can offer you any rate - you wont know until you apply. Ignore the soft credit check stage as you wont of put all your relevant details that can and will have an effect on your risk profile.
  • If your own bank (who has the best picture/understanding of your finances - and therefore go in to this without taking as much of a punt) has bumped its rates up by so much then it is more than likely other lenders (who will be taking a greater risk) will do likewise.
  • Putting a large deposit into a pcp deal will see it disappear when the term is up. I am not a fan of pcp anyway and always go down the bank loan route for a low finance loan then run the car for as long as possible
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards