Car Finance

[angussampson]

Lombard is recommended on another thread for car finance .

Would appreciate any feedback regarding availability of loans for used cars. Is a loan of this type secured on the car? I.e. do they hold the title ?

Presumably their lending criteria is quite lenient, if it is secured on the car?

Many thanks

[angussampson]

Thanks Chaps.

Unfortunately I've already got a good mortgage which is BBR plus 1% for 19 years and interest only. I f I want a further advance they want to change it to repayment.

I have facility of 100 k credit cards which I can use on a rotating basis equating to about 3% for balance transfer per annum. And make the minimum payments monthly , but it's not. 3 or 5 year guaranteed agreement as the provider may up the balance transfer rate or worse, withdraw it. Only problem I think having this credit facility is putting off loan providers , even though I'm hardly using any of it...Guess they are worried if I take a loan from Lombard etc, I will max out my cards too...

I think lenders can see my credit facility and it black balls me!

Anyone in the know regarding this ?

Thanks

[angussampson]

All in all , confused!

Spoke to the experience bloke and although I have a rating of 999 he reckons that having 20 k on a credit card may be doing me! He suggested that getting to 15k on cards will put me in a much better position! Will try that.

Any road, at least the prices of GT3's will come down to meet me as I just save up !!

[angussampson]

All 0% . No way that I would pay the regular rate. I got the various cards so that I could do some work to my last house as a short term facility before I sold it. I could use my cards for short term use but it's quite an effort to juggle it long term, so was looking for a simpler solution and a facility that is guaranteed.