PCP Finance help!
Hi all, looking to apply for PCP finance tomorrow. Never had finance before and worried I will be rejected, Experian rating is at 856 but should really be higher as I've cleared my student overdraft and a credit card. Only been in current job a few months, was a uni student before hand for 4 years (garage wants 3 years employment history?) Anyway, looking to borrow £20ks + I'm putting down a £4k deposit.
I earn £22k a year, looking at £400 per month for the car from Audi.
Going to be embarrassing if they reject me as I've been pushing for a good deal on the car for a week or so :/
I did contact Audi finance directly and they say that being a student shouldn't be a problem, they just want 3 years traceable history. Anyone with experience ?
Much appreciated! I am 23 btw
I earn £22k a year, looking at £400 per month for the car from Audi.
Going to be embarrassing if they reject me as I've been pushing for a good deal on the car for a week or so :/
I did contact Audi finance directly and they say that being a student shouldn't be a problem, they just want 3 years traceable history. Anyone with experience ?
Much appreciated! I am 23 btw
Wouldn't worry about it.
When the salesperson puts your finance application through it doesn't just go to one company.
You can get people chuckied up even if they have CCJ's. Yes. Really.
Having been in the motor trade, trust me, if there's a sucker out there daft enough to have a car on finance you'll be able to get them through. Not neccesarily at a great rate... but that's not the salespersons problem.
When the salesperson puts your finance application through it doesn't just go to one company.
You can get people chuckied up even if they have CCJ's. Yes. Really.
Having been in the motor trade, trust me, if there's a sucker out there daft enough to have a car on finance you'll be able to get them through. Not neccesarily at a great rate... but that's not the salespersons problem.
Can't see it being an issue, PCP is usually designed to work with no deposit up front, so by paying 4k up front you've probably reduced any immediate risk as it's nearly a year's worth of payments. Had a friend apply for 26k of credit earning 15k a year and the dealer didn't bat an eyelid.
Bare in mind there's a huge reduction in risk as opposed to a loan, as the finance is secured on car, I.E, don't pay, car gets removed.
With a unsecured loan, don;t pay, you still got the car, but face repercussions. Swings and roundabouts.
THat's a lot of money on finance too.........
With a unsecured loan, don;t pay, you still got the car, but face repercussions. Swings and roundabouts.
THat's a lot of money on finance too.........
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