Help! Finance problem!

fizzle-187 · 1 Apr 2011 at 17:54

Hi guys,

I've got a problem, basically I tried to get a car on finance and my finance didn't go through the first time because I put a small deposit on the car and then I told the guy I'll increase the deposit from £250 to £1000 but I think I kind of changed my mind and just buy a £1000 car in the mean time.

Here is the problem, the finance went through when I told the guy this and I was disappointed because I didn't want to get the car anymore (come to my senses) and I told him I want to bail out and the guy said it will 'affect my credit score real bad' is this true? The finance went through just now but I have not paid the £1000 deposit yet just £250.

Would it really affect it?

fizzle-187 · 1 Apr 2011 at 18:09

Cuchulain said:
It won't affect your credit score at all, other than a search being registered when you applied for the credit, tell him go F himself in his lying A.

Are you 100% sure on this mate? Because I'm going to ring the guy now and I don't want it to affect my credit rating!

fizzle-187 · 1 Apr 2011 at 18:33

[TW]Fox;18808097 said:
Have you signed anything?

Paperwork but that was rejected. (The finance)

I have to go in tomorrow to sign the documents of the finance that was accepted. But I'm going to ring the guy tomorrow and bail out.

And I put a deposit of £250 down and I think it's fully refundable.

fizzle-187 · 1 Apr 2011 at 18:45

Disco Boy said:
Just go and get your money back, don't listen to their scaremongering.

Will do! I don't need to go in to get my deposit back do I? I can just phone up and get it refunded? I payed by direct debit...

fizzle-187 · 3 Apr 2011 at 18:20

Hades said:
From what I can work out I think the OP originally had finance declined. He then increased his deposit to £1000 and the finance was then accepted (presumably because with a bigger deposit he needs a smaller loan).

So if I understand correctly he has now paid £1000 and has an accepted finance agreement.

I think the OP needs to carefully read the finance agreement and anything else he signed. They will indicate whether there is a cooling off period or whether he can get his deposit back.

Yes thanks for clearing that up, but I haven't put the £1000 down for the car yet just £250 I was meant to put it down on Monday with me signing documents as well. But I'm going to tell him no thanks.