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  • FIRST POST
    Animal-uk
    Credit Plus - Car Loan?
    • #1
    • 14th Aug 12, 10:23 PM
    Credit Plus - Car Loan? 14th Aug 12 at 10:23 PM
    Hello,

    After using the Experian site to source a loan based on my credit score it pointed me to Credit Plus.

    I applied for the loan with them and it was accepted. I've been advised some sort of advisor and they will contact me tomorrow.

    After reading some reviews of their company it would seem a number of people have been hit with additional fees along the way and also have had to stump up deposits too, none of which were mentioned during the loan application.

    Has anyone else had any dealings with this company? I just can't afford to be ripped off so please help!

    Thanks, Jason
Page 1
  • Apples2
    • #2
    • 14th Aug 12, 10:39 PM
    • #2
    • 14th Aug 12, 10:39 PM
    Why not just get a normal loan with no hidden secrets?

    This type of credit scheme is in no way for the benefit of us. They are designed for people who cannot afford a car but want one anyway, people who will simply sign anything to get their hands on a car.
  • Animal-uk
    • #3
    • 14th Aug 12, 10:54 PM
    • #3
    • 14th Aug 12, 10:54 PM
    Thanks for the reply.

    Rightly or wrongly I assumed that Experian would pick out some credible companies to deal with. I've not got a fantastic track record when it ones to credit history but I've managed to obtain a mortgage within last 12 months.
  • Apples2
    • #4
    • 14th Aug 12, 11:05 PM
    • #4
    • 14th Aug 12, 11:05 PM
    The cra''s. Provide valuable information to you, but they are a business who need to make a profit. They aren't your personal advisors acting in your interest.
    • poppasmurf_bewdley
    • By poppasmurf_bewdley 15th Aug 12, 10:18 AM
    • 5,394 Posts
    • 5,505 Thanks
    poppasmurf_bewdley
    • #5
    • 15th Aug 12, 10:18 AM
    • #5
    • 15th Aug 12, 10:18 AM
    Have you given them your Debit or Credit Card details? If so, some money from your account is already gone. Probably something between £50 and £70.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • Animal-uk
    • #6
    • 15th Aug 12, 10:43 AM
    • #6
    • 15th Aug 12, 10:43 AM
    No not at all. No bank details or card details have been entered anywhere. Have you had dealings with them before then?
    • poppasmurf_bewdley
    • By poppasmurf_bewdley 15th Aug 12, 11:04 AM
    • 5,394 Posts
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    poppasmurf_bewdley
    • #7
    • 15th Aug 12, 11:04 AM
    • #7
    • 15th Aug 12, 11:04 AM
    No not at all. No bank details or card details have been entered anywhere. Have you had dealings with them before then?
    Originally posted by Animal-uk
    No, but a look at their Term and Conditions tells me all I need to know:

    "Creditplus reserve the right to charge an administration fee to cover the cost of sourcing a suitable vehicle or vetting an appropriate dealer, or if the loan does not complete due to false information given on the application form. The administration charge is kept to a minimum to cover costs only. In the event of a cancelled order by the client, or the client changing supplier the administration fee will not be returned by Creditplus."
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
    • TadleyBaggie
    • By TadleyBaggie 15th Aug 12, 11:07 AM
    • 3,118 Posts
    • 2,381 Thanks
    TadleyBaggie
    • #8
    • 15th Aug 12, 11:07 AM
    • #8
    • 15th Aug 12, 11:07 AM
    This quote from their website says it all: "We compare car loans to secure the most competitive deal". They are just a broker, so the only way they are going to make money is by charging a fee.
  • serverking
    • #9
    • 25th Nov 13, 7:13 PM
    • #9
    • 25th Nov 13, 7:13 PM
    It seems their staff have been putting lies in on Review Centre to boost their ratings... I can't see how their 4/5 rating adds up... if they are a broker, then it's a waste of time... They have been bombarding me with emails... It's surprising that Equifax/MoneySupermarket directed me to these sharks
    Probably the best Engineer in the World
    • poppasmurf_bewdley
    • By poppasmurf_bewdley 26th Nov 13, 10:52 AM
    • 5,394 Posts
    • 5,505 Thanks
    poppasmurf_bewdley
    It's surprising that Equifax/MoneySupermarket directed me to these sharks
    Originally posted by serverking
    Some companies will do anything when they are being paid.

    Surely you cannot be surprised that a company that sells worthless credit scores to gullible customers will sell advertising for or recommend companies that offer worthless brokerage services.
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
    • andyuk01
    • By andyuk01 26th Nov 13, 11:01 AM
    • 135 Posts
    • 77 Thanks
    andyuk01
    Creditplus maybe a broker but they are a reputable one

    I bought my last car through them, and the finance was ultimately arranged with barclays partner finance, apr 12.9% (good for situation at time)

    No deposit required or fees added
  • nikextra
    I have also been directed to credit plus and been given an advisor.
    The guy sent me details of the car I wanted but I was suspicious of the price so I tracked it down on auto trader for £2000 cheaper!.
    When I confronted him at next phone call he said this was because they touch the cars up and detail them etc to get in a1 condition plus the delivery costs, what 2k!! Lol.
    Safe to say I will be buying from the dealer now.
    By the way for the same money they wanted a month on a 4 year PCP, I can "own" the vehicle over 5 years on finance.
    Where's the near miss icon ?
    • MSE Andrea
    • By MSE Andrea 26th Mar 14, 2:07 PM
    • 9,374 Posts
    • 22,226 Thanks
    MSE Andrea
    Hi everyone

    CreditPlus has asked to provide a response on the thread. MSE doesn't endorse anything a company says on the Forum.

    Creditplus have made an official response to answer many of points raised in this thread.

    Creditplus offers vehicle finance which includes both hire purchase and leasing products. These loans do not have ‘hidden secrets’ as has been suggested. They are the same types of loan products that you would get from any franchised dealership in the UK.

    We do have a partnership with Experian and had to go through a rigorous vetting process to partner with them. As you have correctly pointed out Experian would not partner with any company that they deem to be unprofessional or misleading as they have an extremely good reputation to uphold.

    We strongly refute the claim that was made about debit and credit card details being asked for and between £50 and £70 being taken out of a customers account. Unfortunately there is a company that trades under the name of e-creditplus that some consumers mistakenly identify as our business and I believe this has happened again in this thread.

    As the snippet from our Terms and Conditions state we do cover ourselves for some circumstances where our business will incur costs which are out of our control or directly caused by a customer using false information. The terms also state that the fee would only ever be to an amount to cover our cost and kept to a minimum. We are pleased to say that admin fee’s are a very irregular occurrence for our business.

    Our roots do stem from a brokerage setup however we earn our money from the commission paid to us by lenders, not by charging fee’s to our customers. We do not charge fee’s to arrange finance for customers.

    We are also very proud of the fact that our reviews on Review Centre are left by real customers. We do not and never will falsify reviews as this would be highly unethical.

    We are disappointed that some users would use the word ‘shark’ when discussing Creditplus. We pride ourselves on being an ethical finance provider and as such we invest a lot of time and resource into providing a high quality service. We do this by building technology that protects our customers and their credit rating when applying for finance. After a customer has applied they will be contacted by a customer advisor and all of our advisors are SAF Approved.
    Could you do with a Money Makeover?


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    • zx81
    • By zx81 26th Mar 14, 2:29 PM
    • 20,579 Posts
    • 21,999 Thanks
    zx81
    We do not charge fee’s....
    Originally posted by CreditPlus
    We are pleased to say that admin fee’s....
    Originally posted by CreditPlus
    .... not by charging fee’s to our customers....
    Originally posted by CreditPlus
    We do not charge fee’s...
    Originally posted by CreditPlus
    Reported for crimes against the English language.
    • Clive Woody
    • By Clive Woody 26th Mar 14, 2:56 PM
    • 4,567 Posts
    • 5,164 Thanks
    Clive Woody
    Reported for crimes against the English language.
    Originally posted by zx81
    Really would not trust a company who cannot even pen a decent press release without basic errors. Not exactly an example of a professional set up.

    I appreciate that their job is flogging finance but if you want to make a public statement defending yourself and presumably trying to reassure potential customers that you aren't another internet scam company then you might want to get someone to check it first before sending it out.


    I found this gem this on their website.

    Any cars provided by Creditplus via the internet are covered under the supply of goods act (Distance sales) this initials you to protected rights that mean will we put right any fault on the vehicle if one occurs within the first 7 days from delivery

    http://www.creditplus.co.uk/faq.html?vid=can-i-see-the-car
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
    • iolanthe07
    • By iolanthe07 26th Mar 14, 4:40 PM
    • 5,134 Posts
    • 4,833 Thanks
    iolanthe07
    Reported for crimes against the English language.
    Originally posted by zx81
    Good on you. The intrusive apostrophe on simple plurals is really irritating. You might expect it outside a grocer's shop, but not from a reputable finance company.
    I used to think that good grammar is important, but now I know that good wine is importanter.
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