Monday, 8 September 2008

Car Finance Vultures

I was intending on buying a car this weekend. However, I did not take the credit crunch in to account.

Last time I applied for a loan, when I was a student, I went to Cahoot and had the money in my account within a couple of days at around 6.5% if I remember correctly.

Now that I'm earning a decent wage I presumed getting a decent car loan would not be a problem, despite the global economic situation. Admittedly the advertised rates are a little higher - Sainsbury's seemed best at 7.7%.

They refused me! They then referred me to another company which offered a loan at 15%! I then tried my own bank - Alliance & Leicester - who offered me a loan at 18%!!

So then I tried filling in one of those car finance applications online at the Autotrader website. Big mistake.

Since then I have had a non-stop stream of phone calls and text messages to my landline and mobile. These finance companies are like a kettle of vultures, desperate to get me to take a loan. I have just started telling them that I have already bought a car and don't need the money any more. In fact, today I just stopped answering the phone.

I think I'll just buy new waterproofs for my motorbike instead!

1 comment:

Fraser said...

i suggest buying a new bike...besides who would want a smelly ugle Jaguar XK8