PCP Contract Hire - Been Refused

[uber]

My girlfriend recently applied for a personal contract hire and was knocked back. The broker who applied on her behalf had a look at her credit record and and says he has no idea why it failed as her file is pretty clean. He then suggested some kind of second score system used that people like checkmyfile.com cant access.

Is anyone on here a broker who could look at her file and possibly get her a deal? Feel free to PM me

Thanks

[smckeown]

Everyone can access their file for free using noddle
Sean

[robnokia]

Age? Mercedes let my girlfriend get to credit stage only to be told no due to her being under 25

[uber]

robnokia said:

Age? Mercedes let my girlfriend get to credit stage only to be told no due to her being under 25

My GF is just about to turn 26 so I would think she should be OK on that front. He initially said he thought the dealer may have ran out of allocated cars and rejected on that but that just sounds a bit strange to me

[skeeterm5]

I guess a brokers view of "pretty clean" and the actual lenders view may be poles apart. Ask the broker to be specific.

S

[rfoster]

Interesting to know what funder has declined the deal, do you know which finance company the broker was using? The credit score on Experian / Equifax is not a reflection on your earning capacity and after checking for adverse / current commitments, the finance company are most interested to see whether the monthly payments can be afforded. Other factors to take into account are things like payday loans - these don't affect your credit rating, but finance companies will take that as a sign that you are living beyond your means and will often refuse on this basis.

Feel free to drop me a PM with details of what you're looking for and I'll be happy to give you an idea of what we could offer, subject to credit acceptance of course. Cheers, Richard.

[JB8]

Check my file are a bunch of useless tts, they sell you out of date information which you could get for free from Noddle, which is up to date.

The decline could be a number of things, debt to income ratio, affordability, adverse credit history, no credit history, she doesn't meet their lending criteria (age, time at current employer, time at current address, etc) could be anything.

She should go on Noddle first to see if there is anything on her credit file to worry about.

[JimboP]

Funders also have access to CAIS (if I recall its called) This is totally different from Experian etc as it is a system that shows outstanding balances on Mortgages Credit Cards etc - so is a true picture of current borrowing as opposed to seeing that there are no arrears and payments are up to date. I recently had a Customer who had a blinding experian score - but the CAIS showed a significantly different image of the true financial position

Never rely on Experian etc - the access to the Public is an income generation ploy masked behihd ID protection etc. If you pay regularly and are not in arrears then you can get a very high Experian score, also includes home ownership etc.

I would suggest that unless the OP's girlfriend is a homeowner and is possibly renting that there may be a history with the address she currently resides in - this is not uncommon. Lack of presence oj Voters Roll is also a negative. There may be a multitude of reaosns why she was declined.

James

Likewise - contact me as I am in the finance business ......

[rfoster]

Good summary James.