Thursday, 29. September 2011
I recently had a note from someone who was having major problems with a dealership over a fault that developed in his new car. The problem was taking far too long to resolve and the client was getting very frustrated. Even contacting the manufacturer didn’t seem to work so in a fit of rage he called the finance company, who legally still owned the car, Read more »
Wednesday, 10. August 2011
The credit system in the UK is in need of a really good shake up. Credit decisions seem to be made based on some very iffy information and totally illogical. Take two people doing similar jobs, earning the same amount of money who both apply for credit on similar cars. The first client has a perfect, unblemished record. He has a mortgage and a couple of Read more »
Monday, 11. October 2010
One of the constant questions I get asked is if the bank rate is at 0.5% why are personal loans running at around 8% – 10% and HP can be much more than that? Well unless you are a banker or you have a tracker mortgage the bank rate is pretty meaningless and this has always been the case when interest rates have been running at a pretty low level. The fact is that the interest a lender charges is his income. He might have a few fees that bolster up his admin costs but he still has his overhead costs to Read more »