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Need new car
Posted: Fri Nov 13, 2020 5:00 pm
by barassic
Hi all , my car has just give up the ghost after 8 years. I have just been accepted for a credit card and haven’t used it yet . My question is , if I apply for a loan for a car would this look bad . I have been on clearscore and some loans say 100% chance of approval . Just wondered if the time between getting credit card and applying for loan would look bad . Thanks
Re: Need new car
Posted: Fri Nov 13, 2020 5:05 pm
by Foggy
If you are otherwise suitable ( income etc) it shouldn't be an issue. The fact that you have a credit card will give lenders some confidence, but, if rejected, do not be tempted to keep trying as that will look bad.
Re: Need new car
Posted: Fri Nov 13, 2020 6:08 pm
by barassic
Thanks Foggy. I would only try one company . If rejected I would look for a cheaper car . Cheers
Re: Need new car
Posted: Mon Nov 16, 2020 11:02 am
by barassic
Morning. Just an update on this. Loan approved today.
Re: Need new car
Posted: Mon Nov 16, 2020 11:12 am
by Foggy
Mon Nov 16, 2020 11:02 ambarassic wrote:
Morning. Just an update on this. Loan approved today.
Excellent ---and, of course, the regular repayments will, in due course, also boost your credit score!
Re: Need new car
Posted: Mon Nov 16, 2020 11:45 am
by barassic
Exactly . Thank you Foggy
Re: Need new car
Posted: Mon Nov 16, 2020 12:33 pm
by kallis3
Great news!