How many car finance agreements at once?
Discussion
Ossiantoad said:
I've got the family car financed via VW and my business car is with Motonovo. Am I pushing my luck if I try to finance a toy as well? Affordability not an issue I just wondered whether there was a limit to the number agreements I can enter into. The total amount is not enormous.
I've had dozens of simultaneous finance deals (for taxis) plus biz box plus toy(s) so can't see any prob. for you.13m said:
You said a couple of years ago that the amount of secured debt in taxis had b
ksed your credit rating.
Yes it did once upon a time, or at least lowered it, but following analysis it never stopped a lender lending. Even the stupidest lender (Clydesdale) EVENTUALLY understood that I didn't have 30 Skodas parked on the driveway for personal use.ksed your credit rating.Mind you, I haven't borrowed a penny for business purposes from a financial institution for years (since 2009) - apart from for taxis, which I've also stopped buying now. Borrowing days are over. So credit record really doesn't matter anymore.
Come to think of it, whilst I've never missed a payment, never mind defaulted on any agreement at any time, I've never really had a great credit rating. Never really understood why, either, despite being told. I mean, because you have a pile of debt, assuming you service it as required and have a history of doing so going back ages, why should it give you a worse credit rating? You'd think the opposite, wouldn't you?
Edited by drainbrain on Thursday 8th December 14:57
drainbrain said:
13m said:
You said a couple of years ago that the amount of secured debt in taxis had bksed your credit rating.
Yes it did once upon a time, or at least lowered it, but following analysis it never stopped a lender lending. Even the stupidest lender (Clydesdale) EVENTUALLY understood that I didn't have 30 Skodas parked on the driveway for personal use.ksed your credit rating.Mind you, I haven't borrowed a penny for business purposes for years (since 2009) - apart from for taxis, which I've also stopped buying now. Borrowing days are over. So credit record really doesn't matter anymore.
t with RBS after that and were looking to re-bank. Did that happen?13m said:
I seem to recall you were having some st with RBS after that and were looking to re-bank. Did that happen?
"Some st with RBS after that and were looking to re-bank. Did that happen?t" is the understatement of the year, and the "some st" is likely to go on for the rest of my life too (which I'm fine with) unless they want to give in and cough up. £35k so far, but I reckon that's barely the tip of the iceberg. Nothing to do with taxi debt or credit rating tho'.
drainbrain said:
13m said:
I seem to recall you were having some st with RBS after that and were looking to re-bank. Did that happen?
"Some st with RBS after that and were looking to re-bank. Did that happen?t" is the understatement of the year, and the "some st" is likely to go on for the rest of my life too (which I'm fine with) unless they want to give in and cough up. £35k so far, but I reckon that's barely the tip of the iceberg. Nothing to do with taxi debt or credit rating tho'.
Gassing Station | Finance | Top of Page | What's New | My Stuff