I always fancied caravaning but was worried about spending a lot of money buying one in case it was not for us but after someone giving me an abi maruader 12 months ago i am well and truly hooked, but 12 months on the little abi is ready to retire, so of we went to the dealers, within 10 minutes we fell in love with a little two berth, before we knew it we were in the office filling the forms in for finance 1 hour later and our dreams were shattered with a finance rejected, one bad result on my credit history from 5 years and 3 months ago, gutted, what happened to the old days where you could speak to people who lent you money on who you are and if you can afford to pay it back anyone had the same problem and any ideas of any companies who treat you like a person instead of a number
------------- life is to short so make the most of your weekends, just hitch up and gooooooooooo
Quote: Originally posted by hammyhar on 18/3/2012
What happened to the old days where you could speak to people who lent you money on who you are?
We had a financial crisis, thats what happened & now thankfully the banks have reverted to the quaint pre 1980 practise of only lending money to people who have a reasonable chance of paying it back.
I have no complaint with banks being unwilling to lend to those who could be a bad risk, about time too. Its is me & other bank customers who save at p*ss poor interest rates who pay for defaulters.
A caravan is just a box to sleep in, not summat you 'fall in love with'. Continue to use the one you have, the one you can afford will do exactly the same job as the one you can't.
Quote: Originally posted by hammyhar on 18/3/2012What happened to the old days where you could speak to people who lent you money on who you are?
We had a financial crisis, thats what happened & now thankfully the banks have reverted to the quaint pre 1980 practise of only lending money to people who have a reasonable chance of paying it back.
I have no complaint with banks being unwilling to lend to those who could be a bad risk, about time too. Its is me & other bank customers who save at p*ss poor interest rates who pay for defaulters.
A caravan is just a box to sleep in, not summat you 'fall in love with'. Continue to use the one you have, the one you can afford will do exactly the same job as the one you can't.
That's a bit patronising. We bought a newer caravan using finance as it was the right thing for us at the time.
Different finance companies have different criteria so maybe try a different finance company or a bank.
My brother recently had a mortgage turned down because he doesn't have enough credit history. Never had a loan, never had a credit card and never had an overdraft. You would expect him to be the perfect customer. But no, he got declined.
Good luck. I hope you get sorted. We are really happy with our newer caravan which we will have paid for in another years time.
Quote: Originally posted by stephenn280575 on 18/3/2012
That's a bit patronising. We bought a newer caravan using finance as it was the right thing for us at the time.
I'm failing to make the connection between your own case where you were obviously able to get a loan & the op who was denied a loan on the basis of, by his own admission, a poor credit rating due to defaulting on a previous loan.
What I find laughable is that after a financial crisis caused by bad debt, which has affected all of us, folk still complain that the bank will not lend them money due to their inability to prove beyond all reasonable doubt that they can pay it back.
The op does not need a new caravan, he has one already.
just a note to tentz,s unjust comments on people he does not know, the bad credit was due to unjust bank charges on an overdraft i had 5 years ago, the charges were accured after a heart attack i suffered and was out of work for three years, i have never had credit before and believed in save up to buy what you need, but after fighting my way back to fitness and getiing back to work albeit on a lot less wage, finance is the only way to finance a second hand van, my current van has damp and is really past its best. but thank you for your comments mr tentz and hope you never have the misfortune of falling ill and losing your livelihood
------------- life is to short so make the most of your weekends, just hitch up and gooooooooooo
Could be a blessing in disguise. The banks are starting to squeeze interest rates up. You would be better off buying privately anyway, you could save a small fortune. You may be able to get a loan from your bank as they will take other things into consideration as they are able to see the money you have going into and out of your account and can see whether you are likely to be able to afford it or not. With a poor credit history though don't expect a good rate of interest. For what it's worth, Black Horse have got quite a name for themselves in the last few years for refusing loans.
By the way, these things only stay on your credit history for 6 years, so if you wait another 9 months, it will be clear.
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Topic: caravan finance
