Credit Rating

[Kelv]

if you have been a good boy with your bank, you probably wont be declined anyway, especially as you seem to have a decent credit rating aswell.

anyhow, I thought you Caterham boys were loaded, you don't need loans... go to your secret stash under the mattress

 

[Stevoox]

if you have been a good boy with your bank, you probably wont be declined anyway, especially as you seem to have a decent credit rating aswell.

anyhow, I thought you Caterham boys were loaded, you don't need loans... go to your secret stash under the mattress

The stash under my mattress is monopoly money!

I've done a comparison online and the bank ones at 5%ARP come out at sub £200 a month.. i wont apply now because of credit rating but hopefully when actually doing it they apply and agree to the 5% shown...

Think now i'll just try sell the 200, in the meantime view the black meg and ask the guy to hold it until my car sells. When mine sells, then just apply online for the loan

 

[Kelv]

you could probably speak a personal banker at your local branch, they should be able to tell you if you are pre-approved for anything, or let you know in principal of how you stand if applying for such a loan.

 

[Stevoox]

you could probably speak a personal banker at your local branch, they should be able to tell you if you are pre-approved for anything, or let you know in principal of how you stand if applying for such a loan.

yeah thats a good idea, is stressing me out loads now... stuck what to do..

I can:

A) Apply online now for personal bank loan to make sure its a good rate. But in doing so the black one could sell and ive then wasted time doing that and dented credit rating (again).

B) View the black one sunday and ask if he could hold the car until mine sells (providing the meg is all good). If he agrees, then look into finance. If thats not approved then i could have wasted time/petrol going there....

C) View the grey one (second choice) and see if they can hold until my car sell but it means paying more a month (finance has been approved on this)

D) Do nothing, sell my car then look. But its a good chance there won't be one around at the spec i want and ill have to go without a car for a while...

erghhhhhhhhhhhhhhhhhhhh

 

[Kelv]

how far away are these cars then?
you may even get there and not like either of them!!

what if, you get the new car, start paying the finance, and your car takes a while to sell... will you be paying out two loan payments during this time?
could this be crippling in-itself, if so, maybe sell yours first and then hunt for the new one!

how much do you rely on a car for day to day living?
as you could always wait for the 200 to sell on, then even buy a £500 sh!tter for short term usage and to/from work until you get the car you want with the ideal spec and colour you really wish to have.
you would sell on the sh!t box for probably near on what you paid for it anyhow.

 

[Stevoox]

how far away are these cars then?
you may even get there and not like either of them!!

what if, you get the new car, start paying the finance, and your car takes a while to sell... will you be paying out two loan payments during this time?
could this be crippling in-itself, if so, maybe sell yours first and then hunt for the new one!

how much do you rely on a car for day to day living?
as you could always wait for the 200 to sell on, then even buy a £500 sh!tter for short term usage and to/from work until you get the car you want with the ideal spec and colour you really wish to have.
you would sell on the sh!t box for probably near on what you paid for it anyhow.

Black one is northamptonshire and Grey is Cardiff so either one is about 2 hours drive. I wouldn't want two sets of finance running, 200 would be paid off and sold and part of the money used as a deposit on a meg. I rely on the my car everyday of the week and yes i could buy a heap for £500 but its just more hassle hence why im trying to get all in place so that the sale of my car finalises things and i already know finance is approved and i can then instantly pick up a new car.

I think what ill do for now is wait until the end of the week, check the black meg is still available and i can view on sunday. If it is, then just do another finance application..suerly cant dent credit rating that much.. Atleast that way i know if theres actually a point in viewing the car, if finance comes back at a stupid rate again then the only option is the grey meg

 

[Rogue]

To be honest Steve, I don't think you should be committing to another car until you sell yours. What if it takes you months? A dealer isn't going to hold onto your car whilst you don't have yours sold, he knows how long it can take.

 

[Stevoox]

To be honest Steve, I don't think you should be committing to another car until you sell yours. What if it takes you months? A dealer isn't going to hold onto your car whilst you don't have yours sold, he knows how long it can take.

Yeah, i dont expect a dealer to either as they are after fast turn around.

The black meg is a private one though, the guy is in no rush and still needs to find a car himself. My plan was (if i liked it and finance is ok) to make him an offer so he knows what figures he can work on, he then finds a car during the time mine takes to sell.

 

[nutnutwelshman]

Just say do not bite my head off you see the car and arrange to buy then a week later he totals the Meg on the way to work????

 

[Stevoox]

Just say do not bite my head off you see the car and arrange to buy then a week later he totals the Meg on the way to work????

Yeah good point, its always a possibility i guess.

My car is up for £10,300 - no calls as of yet this week am still wondering wether to take the recaros out and drop the price to just under 10k...

 

[nutnutwelshman]

Del with Stephen????

 

[Stevoox]

Del with Stephen????

Taking them out will make it less desirable though and so longer to sell

 

[nutnutwelshman]

Thats true fella

 

[smoggy mark]

Sorry steve i have just put a deposit on the the black meg so you can rule that out.
















No just kidding mate like the others have said try and sell yours first then look its what i did before i got my 200,I had to bum lifts for a month before i got sorted out though.

 

[Stevoox]

I'll give the guy a call this week then and explain the situation. IF...IF he would be happy with what I propose then maybe ill view it at the weekend.

Otherwise I think what you say is best: sell the clio first. Still the dilemma though, keep recaros in for desirability or take out and sell for extra towards a deposit?

 

[smoggy mark]

Think it will sell quicker with the Recaros,but if you do end up doing a part X take them out:thumbup1:

 

[Stevoox]

Yeah if I was to px then 100% recaros would come out, but think ill try private because if getting more money towards a deposit

 

[Kelv]

As I said earlier, sell yours first and then buy a cheap banger just so you can get around short term, atleast that way you arnt under any pressure to get one of the first cars you view.

 

[Stevoox]

As I said earlier, sell yours first and then buy a cheap banger just so you can get around short term, atleast that way you arnt under any pressure to get one of the first cars you view.

Girlfriend said i can just use her car so thats an option i guess.

I've only advertised on pistonheads so far but might be worth sticking something on autotrader as its much bigger

 

[Stevoox]

Ok Kelv, i search again but this time put in my location and turns out i am on the electoral roll thingy

Just need to sell the 200!!!!!!!!!!!!!!!!!!!!!!