VW FINANCE CREDIT CHECK

[rocafella]

Hi
Just wondering if anybody knows when the dealer does a credit check on you, checked my score online its not bad but not great. I would hate to wait all this time and not get the credit

Cheers

[chojin]

mine was checked and approved *before* they put the order into the factory

[Miss GT]

mine was checked and approved *before* they put the order into the factory

yep mine too

[rocafella]

I must have got it then, ive been in twice because ive added options and paid a deposit.I dont think they would waste time on me without checking (hopefully)

Thanks for the reply

[Downtown_two]

They didn't check mine until I finalised it which was a month or so after the order going in. They should've taken scans of your driving license, some info about your occupation, work address etc and you definately should've got a phonecall to say your finance was accepted. I think its worth making a call to the dealership to clarify.

[breezimus]

It's often one of factors that can determine what kind of deal you can do as the dealer may look at placing the finance with a different finance house if thier primary funder doesn't like the look it. For instance, they will have access to other funders that might offer a slightly poorer rate on the finance, or ask for a bigger deposit, based on your circumstances.

For this reason, I always get the dealer to do an in principal credit check before we finalise exactly how the deal is going to be structured. Remember that the APR on the finance is a negotiation in it's own right and can make a huge difference to your monthly payments.

Dan

[rocafella]

Mmm
I have doubts now,maybe i should give them a ring, then again i"m putting a £6000 deposit down would that make a difference?

[breezimus]

A bigger deposit should always make a difference, as the risk to the lender is decreased if you defualt (same as with a mortage).

Personally, I'd give them a call and ask the question, although if you've not had to tell them how long you've lived at your current address, how many years you've been with your emplyer etc, then I would suggest that you've not been credit checked at this stage.

[rocafella]

Just emailed the dealer and asked him the question about a credit check.

Now i feel sick!!

Is there a forum for people who nearly got a scirocco?? lol

Will keep you updated

cheers

[breezimus]

Better to know now, then you either relax and enjoy the anticipation of your new toy, or look at other options if there is a problem.

I went through the same thing with my first new car and it was a huge relief once I knew it was all sorted and the car was definately coming.

[rocafella]

Yep, your right

This could turn into a bad day,or a good one!

Just have to wait and see

[rocafella]

just got in and read my emails... finance approved!! (dances around the room like a lunatic) roll on febuary

[ashley1407]

Hmm mine was approved there and then when I placed the order on his computer. To be honest, I wondered if they would require a higher deposit or something for me because I'm only 19. All went through fine though.