Hi Guys

I know this is somewhat of a subjective question but i'm currently looking at buying a new CBR600RR and want to know anyones thoughts on the 0% finance with respect to credit referencing here in the UK?

I earn in excess of the repayments required (£150 but have more than £1000 spare a month) so dont see this being an issue and the bike will require £1200 deposit. Its total price is £8000. Oh and im 36 living in unfurnished rented accomodation - not sure if it matters but have been riding 10+years with zero points and no crash history etc.

The problem I may have is that I am self employed, moved 3 times in 3 years, not on the electoral role at the new place (only been there 1 month but on it for the previous 2 houses) and have a single late payment on another loan (just 1). On the plus side, there are no CCJ's or defaults BUT i do tend to use credit if I have it - again, only the one late payment and the rest are always paid back well over the minimum payment.

I was wondering if anyone else with these problems on there credit history have had any luck with Honda Finance or are they fussy?

 

the only way to find out is to try. I think as long as you can provide proof of your income over the last few years, it shouldnt be a problem. The only issue I see is the moving 3 times. If you only have one late payment, I doubt it would show up on a credit check, so you shouldn't have anything to worry about there either. I know the lending industry is cracking down on its loans, so it may be harder to get one, but your credit sounds good to me. It all comes down to your credit score and sufficient funds.

IMHO, in todays economy, being self employed, If I had an extra 1000 per month and only needed 8000 to buy what I wanted, I would just save and buy the bike outright. Or save and buy a clean used bike.

 

I used Honda 0% finance for my RR, it doesn't get any better than that does it ... I mean you don't need to shop around for a better deal or anything. 0% is 0% and that's that!! :-)

I think the minimum deposit they wanted was £1500 but I put down a lot more anyway ... I filled in a brief form and wasn't even asked about current credit card balances. It was too easy really ... I can see how folk get into debt. If you are not black listed or anything and earn enough money and can show a reasonable monthly disposable income then I don't see a problem.

I was a safe bet though as I own my own home and stuff ..I would just say go ahead and try, they can only say no..........

Jules