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Hire purchase credit check?

123donalo · 2014-07-02 11:36:44

If you are buying a vehicle under hire purchase is a credit check carried out?

02-07-2014 11:36am

#1

123donalo

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Join Date: March 2009

Posts: 58

If you are buying a vehicle under hire purchase is a credit check carried out?

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Comments

#2 02-07-2014 11:47am

tossy

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Of course it is.

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#3 02-07-2014 11:56am

123donalo

Registered Users, Registered Users 2 Posts: 82 ✭✭

Join Date: March 2009

Posts: 58

Reason I'm asking is I have financed vehicles in past through bank and have had no issues with repayments but Mortgage is in joint account and has had some late payments over the years which show up on credit check.
Will these affect me getting hire purchase credit on new vehicle. Trading in old value €7000 and further deposit of €5000 so hire purchase on €18000 incl vat.

tossy wrote: »

Of course it is.

0
#4 03-07-2014 9:03am

xlight

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Join Date: September 2012

Posts: 105

Maybe your credit is not as bad as you think, they will see how long is your HP agreement, i.e.3 years. Then they look at the car that you are going to purchase and value how much will it worth in 3 years. If the value is greater than your borrowing then I guess they will be happy to give you the HP.

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