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J Ram

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Review of the Zopa, Car finance:

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Refused car finance they offered me!

Applied for car finance for £11459. I have great credit and good income. My application was sent to the underwriters who requested all banking documentation. Two days they kept me and the dealer hanging only to refuse my application with no explanation. I have used zopa in the past for an unsecured loan which was approved within minutes but a car finance with an asset attached...no dice!!! Now the only reason i can think of for refusal was the very low interest rate THEY offered me!! They bombarded me with emails for some time promising low interest rates based on what they know about me, but when i take them up on it, then "computer says no"! Im not so bothered about the refusal, but the time wasting for £11495 is not needed! If they offer you a low interest rate that seems too good to be true, it is! Use their nearest competitor instead. Reviewed on: 12th September 2025

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