In the process of looking for a meg250 and selling the clio.
At this stage i've found a car which i'm viewing on sunday and hopefully he can hold on to it until the clio goes...
I've found a company who will finance a private buy but it appears they have based their initial quote on a lower credit rating and so bumped up the interest rate! Another finance company offered £50 less a month on a car that is in total 1K more!
Ive never missed a payment on a credit card, ill purposely pay for my insurance on it so i can pay it off early just to boost my rating, last car was paid off over a year early and the 200 will be paid off 2.5 years early. But i guess as i'm not a home-owner that holds it back?
My question is, can a a finance company adjust the credit rating and thus the interest they are working on for their offer to you to try reduce the monthly payments? Because if they did work on the best being 5.9% (i think) then monthly repayments would drop by nearly £100 and id be paying less than i am for the clio... Or are they 'binded' in some sort of way they they can only work on your credit rating and not make any change?
I would have assumed it was at their discretion, they can look at all my statements, see a payment has never been missed and always been made early, therefore if they work on the lower percentage id quite clearly have no problem paying as its less than i do now!
Want to avoid applying to any more finance companies as each application reduces your credit rating
At this stage i've found a car which i'm viewing on sunday and hopefully he can hold on to it until the clio goes...
I've found a company who will finance a private buy but it appears they have based their initial quote on a lower credit rating and so bumped up the interest rate! Another finance company offered £50 less a month on a car that is in total 1K more!
Ive never missed a payment on a credit card, ill purposely pay for my insurance on it so i can pay it off early just to boost my rating, last car was paid off over a year early and the 200 will be paid off 2.5 years early. But i guess as i'm not a home-owner that holds it back?
My question is, can a a finance company adjust the credit rating and thus the interest they are working on for their offer to you to try reduce the monthly payments? Because if they did work on the best being 5.9% (i think) then monthly repayments would drop by nearly £100 and id be paying less than i am for the clio... Or are they 'binded' in some sort of way they they can only work on your credit rating and not make any change?
I would have assumed it was at their discretion, they can look at all my statements, see a payment has never been missed and always been made early, therefore if they work on the lower percentage id quite clearly have no problem paying as its less than i do now!
Want to avoid applying to any more finance companies as each application reduces your credit rating