r1_pete
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| posted on 31/10/11 at 05:58 PM |
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Anyone used Sainsbury's Finance?
Changing the daily driver, and rather than deplete my savings I thought I'd take a little on finance, no other debts so nowt to worry about.
Sainsbury's came out cheapest, applied online, accepted, thought that would be it, but the final screen says call us to finalise things, so call
them, and we have to do everything by post, so other than having a presence on comparison sites, what was the point of the online application.
Has anyone used them, and can tell me how quick these postal things are??
Cheers.
Pete.
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PSpirine
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| posted on 31/10/11 at 06:04 PM |
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I had to call them too. And then they told me they can't give me the loan and couldn't say why? So just got financing for the car
elsewhere!
It does seem like a bit of a laborious application process but to be honest it's a loan - if the money ends up in your account, that's
about all that matters.
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PSpirine
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| posted on 31/10/11 at 06:08 PM |
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Incidentally, check your bank. I'm with Barclays and they will match (most) loan quotes.
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wylliezx9r
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| posted on 31/10/11 at 06:13 PM |
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I have used them a few times and had no problems, I did it all online but had to sign a couple if forms that were brought to me by a courier.
I spent a lot of money on booze, birds and fast cars. The rest I just squandered.
George Best
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Proby
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| posted on 31/10/11 at 06:28 PM |
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quote:
Originally posted by r1_pete
Changing the daily driver, and rather than deplete my savings I thought I'd take a little on finance, no other debts so nowt to worry about.
Sainsbury's came out cheapest, applied online, accepted, thought that would be it, but the final screen says call us to finalise things, so call
them, and we have to do everything by post, so other than having a presence on comparison sites, what was the point of the online application.
Has anyone used them, and can tell me how quick these postal things are??
Cheers.
Pete.
Don't take this the wrong way, but if you have money in your savings, use that! It's prob earning no interest at the moment (assuming you
have instant access) as the rates are so crap. Why spend money paying the bank/sainsburys/whoever interest to borrow it if you have it already have
the money? Then setup a direct debit for whatever your loan repayments would be back into your savings account?? Tell me to shut up if you want, just
got my sensible head on this week!!!
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JoelP
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| posted on 31/10/11 at 06:35 PM |
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proby is right there. However, i've used sainsburys about 3 years ago and all was fine. Just forms to sign, so im guessing they must have
changed proceedures since then. Also there is all this junk about only 51% getting the nominal rate or somesuch.
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r1_pete
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| posted on 31/10/11 at 07:01 PM |
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Thanks all, I did consider usng savings, but, I'd need to bite into some which s locked up for 3 years getting me 4.8%, I'm using most of
what I can get at quickly.
If the forms aren't here tomorrow I think there's little chance of having the money by next tuesday, so I'll be off to see what the
bank can do...
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daviep
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| posted on 31/10/11 at 07:56 PM |
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Have you considered a credit card? If the dealer/garage will take one then you can get 15 months at 0% from M&S and Tesco's. If you need
cash then you can use the M&S card but it'll cost you 1%, difficult to get cash from any others without paying a fortune for it.
It's what I do if I can
Davie
“A truly great library contains something in it to offend everyone.”
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JoelP
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| posted on 31/10/11 at 08:16 PM |
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trouble with credit cards is that if you apply for a new one it doesnt come with a very impressive credit limit, ie one or two grand. Thats why when
you do a balance transfer, they quickly up the credit limit in the hope that you will spend enough that you cannot then do another balance transfer
when their deal runs out.
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daviep
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| posted on 31/10/11 at 08:32 PM |
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quote:
Originally posted by JoelP
trouble with credit cards is that if you apply for a new one it doesnt come with a very impressive credit limit, ie one or two grand. Thats why when
you do a balance transfer, they quickly up the credit limit in the hope that you will spend enough that you cannot then do another balance transfer
when their deal runs out.
Not a problem I've ever had tbh never had less than £6k, however the limits I've had of recent have been consistently lower than I was
getting a few years ago.
Davie
“A truly great library contains something in it to offend everyone.”
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Ninehigh
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| posted on 31/10/11 at 09:10 PM |
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Nothing but problems with these people. I lost my job about a year and a half ago and under their advice we cancelled the payments. I was unemployed
for a month and missed two payments total. We got pestered up until around June this year because they couldn't do squat right from there on
it.
It got to the point where I wanted to take them to court on the basis of incompetence. Hadn't been so threatened by people I refused to
pay!
Oh and don't expect that postal stuff to turn up, 90% of it gets lost but that'll be your fault
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bi22le
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| posted on 31/10/11 at 09:56 PM |
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I brought my kit car with a Sainsburys loan. I only went with them becasue it was a good rate, I shop with them and they offered me double necter
moints for the duration of my loan. Except they did not sort out the necter points and that was the swinging factor!!
Papers came fast and the money went in as ezpected. They have to get you to sign something. Its legal and stops frauld and twats milking the
'that was not me that applied but I have spent the money £6K anyway!'.
Oh another thing is that if it is for a good amount of money and you need to pay cash, remember you need to let the bank know. You cant rock up and
expect them to give you £6K. I think its £500 max.
I think Davie P (i think) had the best suggestion. I have recently got a whole new kitchen thatnks to M & S. Something like a £6K limit and 15
months pay bank interest free. Its not that we cant afford the kitchen its just that we want it now!
Only problem with the credit card is that you have to manage the account. Yeah you can set up a direct debit or standing order but theat does not stop
someone getting your details and adding to your debt!!
HTH
Bizz
Track days ARE the best thing since sliced bread, until I get a supercharger that is!
Please read my ring story:
http://www.locostbuilders.co.uk/forum/13/viewthread.php?tid=139152&page=1
Me doing a sub 56sec lap around Brands Indy. I need a geo set up! http://www.youtube.com/watch?v=EHksfvIGB3I
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JoelP
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| posted on 31/10/11 at 11:03 PM |
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quote:
Originally posted by daviep
quote:
Originally posted by JoelP
trouble with credit cards is that if you apply for a new one it doesnt come with a very impressive credit limit, ie one or two grand. Thats why when
you do a balance transfer, they quickly up the credit limit in the hope that you will spend enough that you cannot then do another balance transfer
when their deal runs out.
Not a problem I've ever had tbh never had less than £6k, however the limits I've had of recent have been consistently lower than I was
getting a few years ago.
Davie
Odd, my long term one is up to 9300, but last new one i got (Amex) only had a limit of 1200.
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