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Thread: Pre-Approval?

  1. #1


    I've been saving for a good few months to buy a new car, however for half of the sum of money the car is going to cost I'll be needing to take out a unsecured personal loan.

    After just checking the TSB 2.8% apr loans, my personalised quote said I would get the advertised rate (not sure how this is possible, I'm not a homeowner and most other loans have given me a rate of around 11%, I do however have a good credit score rating).

    Is there anyway I can see if I get pre-approved this loan? Or any other loan. I've set my heart on this particular car, and researched ways into getting the best deal going. However I can't go ahead with buying it without knowing the funds will be available when it comes down to paying for it in a few months time.

  2. #2
    Try the eligibility checker and ignore your credit scores.

  3. #3
    Whats special about the car that you have set your heart on it ?

    Credit scores arent used for loans, what is on your history is what matters.

    Who rates you as good as there are 2 other agencies in the play.

    Is it new or used ? Can save money by buying used.

  4. #4
    Never had any missed payments or defaulted before. I only worry as the first time I applied for a loan through Sainsburys a couple of years ago they denied me, however then got approved elsewhere.

    It's a new car, however buying through CarWow as the price we can get on there is cheaper than a year old used car with the same spec.

  5. #5
    Here's the short answer.

    TSB have done a SOFT SEARCH and based on your information they are happy to offer you that rate.

    Lenders aren't fussed if your a home owner. It's about ability to pay. The only way to find out for sure is apply.

    But beware if you are Unemployed or a homemaker ,Student - Banks are risk adverse to this type of employment status.

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