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Hi, I have just been declined a PCP for a car for the value of £30k.
I was looking for a loan for £26k with a £4k deposit of my own. My credit rating score is 825 with Experian which I believe is classed as moderate risk.
I currently have a PCP with Santander and have £18k outstanding with the value of the car being around £23-24k which i'm trying to sell in order to clear the finance and change for the new vehicle mentioned. I earn £65k a year. Are you able to provide any helpful solutions?
Hi, I wish to obtain 3 cars through a PCP for my family as gifts.. I want to do them all in my name. Mercedes credit company stated they couldn't do it because you can only have one pcp agreement is this the case? Regards, Laura
I am trying to get a pcp deal on a Nissan pathfinder but was turned down because my credit score is too low. The bad credit is due to a defaulted payment of only £6 I have no CCJ's or other arrears and have perfect credit in every other way. What could you offer me?
Hi Robin, as the default is for such a small amount i'm confident we could get you approved for a PCP on a good rate too. Manufacturer finance can be really picky at times but we have many lenders on our panel whereby we can get on the phone and have a sensible conversation with them. Please make an application when you feel ready and let me know the reference number so that i can take a look. As long as you're employed, have a full UK licence, are on the electoral roll and have some deposit we should be fine :-)
Hi Julie, sorry to hear you have been refused. Have you checked your credit history recently? Do you have a good, fair or poor record? Another thing that could effect the decision is your address history - have you moved recently? If not, the only other thing i can think of is that you may be over exposed with your current credit commitments. We could certainly try and get you approved though and we have many lenders so i'm positive of the right outcome especially as you have a large deposit. Kind Regards, Edwin
Fiat will almost certainly carry out a credit check when you're trying to obtain a new PCP deal. You can obviously try and get approved but it'll be unlikely if you have recent missed payments on your credit profile.
However, we can help if you do decide you need a new car and you are declined by Fiat. The fact that you haven't missed a payment on your current car will obviously help.
Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Edwin