Car Loan

[SCOTS_FLLIC]

Does anyone know how long a settled payment takes to show on your credit report.? I paid off my car 4 weeks ago but i am now struggling to get finance on a new car as this is still showing up as an outstanding debt. Please Help!

[Oneeyedvic]

Having an outstanding HP agreement shouldn't make much difference to you getting a new HP deal - most finance compnaies are aware that people trade in cars all the time.

I would suggest that you get a copy of your credit report from www.experian.co.uk and www.equifax.co.uk to make sure that there is nothing else on there.

[SCOTS_FLLIC]

I received confirmation that my car has been paid off from the dealer today. I have checked my credit report and the loan is still outstanding, everything is at 0 but my credit score is 404 (poor). I have no credit or store cards and i live with my parents but it never affected my loan the last time ....

Do I just settle for the finance the dealer quoted me or do i continue to apply for personal loans elsewhere, leaving traces on my credit score?

[Oneeyedvic]

The traces left aren't as important as they used to be.

That said, if the dealer has quoted you a 'sensible' rate and you wouldn't be saving much money by shopping aroung, the question is: can you be bothered to appy to lots of places.

[SCOTS_FLLIC]

Good news.

I applied for the dealers HP today and it was accepted.

Thanks for all your help oneeyed!