Page 1 of 2 12 LastLast
Results 1 to 20 of 36

Thread: Car finance - poor credit options?

  1. #1
    Administrator jt999's Avatar
    Join Date
    Jul 2013
    Location
    Eastbourne
    Drives
    Mercedes A Class AMG Line
    Posts
    3,639
    Thanks
    89
    Thanked 288 Times in 242 Posts

    Car finance - poor credit options?

    Hi all, I'm looking at possibly financing a car but don't really know my options. Basically I have a poor credit rating due to issues in the past (Experian put me in the second to bottom category), I don't know if this rules me out entirely or if I can use a guarantor? I earn a relatively decent wage now but clearly these things take a long time to clear up.
    TheCorsa's friendly predator

    I like my women like I like my laptop. Thin, virus free and on my lap

    My Garage

  2. #2
    'VXR' Member Vegas's Avatar
    Join Date
    Jul 2013
    Posts
    7,618
    Thanks
    347
    Thanked 378 Times in 322 Posts
    When did you last check credit history?

  3. #3
    Administrator jt999's Avatar
    Join Date
    Jul 2013
    Location
    Eastbourne
    Drives
    Mercedes A Class AMG Line
    Posts
    3,639
    Thanks
    89
    Thanked 288 Times in 242 Posts
    A month or two ago
    TheCorsa's friendly predator

    I like my women like I like my laptop. Thin, virus free and on my lap

    My Garage

  4. #4
    'VXR' Member Vegas's Avatar
    Join Date
    Jul 2013
    Posts
    7,618
    Thanks
    347
    Thanked 378 Times in 322 Posts
    Did it show up any negative things? Any old bank accounts in your name etc??

    Why don't you get a credit card for around 2-3 months pay off in full then cut it up.


    Will help

  5. #5
    Administrator Dave's Avatar
    Join Date
    Jul 2013
    Location
    Kent
    Drives
    Skyline R33 @ 320Bhp
    Posts
    6,440
    Thanks
    163
    Thanked 514 Times in 399 Posts
    Quote Originally Posted by jt999 View Post
    Hi all, I'm looking at possibly financing a car but don't really know my options. Basically I have a poor credit rating due to issues in the past (Experian put me in the second to bottom category), I don't know if this rules me out entirely or if I can use a guarantor? I earn a relatively decent wage now but clearly these things take a long time to clear up.
    I've used credit to buy nearly all of my cars. Even sub-1000 ones that I could have afforded with cash anyway. Reason? It's easier and it improves your credit score.

    I've had 4 "personal" loans in 3 and a bit years. All for cars. I'd strongly suggest giving personal loans a look at. Obviously take the best interest one you can find. Think one of mine wa with AA finance. For 1200. Over 12mk the I paid back a smidge over 1400. To me that isn't a bad deal at all, it meant I could buy what I want, and not really "feel" myself paying for it, and after a year it was paid....
    dj_mira likes this.
    |> Spec2 R33 Skyline GTS-T <|


    /[__ Offical TheCorsa.co.uk Stickers! Available
    HERE! __]\


  6. #6
    'VXR' Member Vegas's Avatar
    Join Date
    Jul 2013
    Posts
    7,618
    Thanks
    347
    Thanked 378 Times in 322 Posts
    Depends on car value reslly

  7. #7
    'GLS' Member
    Join Date
    Jul 2013
    Posts
    333
    Thanks
    7
    Thanked 20 Times in 18 Posts
    You're getting that hummer??

  8. #8
    Archbishop of Banterbury Coleman's Avatar
    Join Date
    Jul 2013
    Posts
    1,416
    Thanks
    117
    Thanked 148 Times in 117 Posts
    As Vegas said, identify what is giving you a bad score and try to rectify.

  9. #9
    Administrator jt999's Avatar
    Join Date
    Jul 2013
    Location
    Eastbourne
    Drives
    Mercedes A Class AMG Line
    Posts
    3,639
    Thanks
    89
    Thanked 288 Times in 242 Posts
    Quote Originally Posted by Vegas View Post
    Depends on car value reslly
    Undecided, all depends on how possible it is. I haven't decided on a car yet (didn't seem worth it if I wasn't sure on the finance options).

    Quote Originally Posted by Hoggy View Post
    You're getting that hummer??
    Haha, I wish

    - - - Updated - - -

    Quote Originally Posted by Coleman View Post
    As Vegas said, identify what is giving you a bad score and try to rectify.
    I think most/all are resolved but they hit my rating quite hard

  10. #10
    'VXR' Member Vegas's Avatar
    Join Date
    Jul 2013
    Posts
    7,618
    Thanks
    347
    Thanked 378 Times in 322 Posts
    Is it likely to be sub 2/3k or is it brand new car around 10k for example

  11. #11
    Administrator jt999's Avatar
    Join Date
    Jul 2013
    Location
    Eastbourne
    Drives
    Mercedes A Class AMG Line
    Posts
    3,639
    Thanks
    89
    Thanked 288 Times in 242 Posts
    I have looked at around 2-3k but also up to around 5.5k (5.5k would definitely be most I'm willing to spend, with at most 5k of that being credit)

  12. #12
    'VXR' Member Vegas's Avatar
    Join Date
    Jul 2013
    Posts
    7,618
    Thanks
    347
    Thanked 378 Times in 322 Posts
    2/3k I'd be tempted more with an overdraft.

  13. #13
    Administrator jt999's Avatar
    Join Date
    Jul 2013
    Location
    Eastbourne
    Drives
    Mercedes A Class AMG Line
    Posts
    3,639
    Thanks
    89
    Thanked 288 Times in 242 Posts
    Quote Originally Posted by Vegas View Post
    2/3k I'd be tempted more with an overdraft.
    Not sure I'd get one with my bank
    TheCorsa's friendly predator

    I like my women like I like my laptop. Thin, virus free and on my lap

    My Garage

  14. #14
    'VXR' Member Vegas's Avatar
    Join Date
    Jul 2013
    Posts
    7,618
    Thanks
    347
    Thanked 378 Times in 322 Posts
    If you're with Hsbc still I could have a butchers..

  15. The Following User Says Thank You to Vegas For This Useful Post:

    jt999 (14-07-2013)

  16. #15
    Administrator jt999's Avatar
    Join Date
    Jul 2013
    Location
    Eastbourne
    Drives
    Mercedes A Class AMG Line
    Posts
    3,639
    Thanks
    89
    Thanked 288 Times in 242 Posts
    Quote Originally Posted by Vegas View Post
    If you're with Hsbc still I could have a butchers..
    That'd be cool

    Oh and the direct debits to those porn sites are totally not mine
    TheCorsa's friendly predator

    I like my women like I like my laptop. Thin, virus free and on my lap

    My Garage

  17. #16
    'VXR' Member Vegas's Avatar
    Join Date
    Jul 2013
    Posts
    7,618
    Thanks
    347
    Thanked 378 Times in 322 Posts
    Just like that its gone
    Last edited by Vegas; 14-07-2013 at 07:53 PM.

  18. The Following User Says Thank You to Vegas For This Useful Post:

    jt999 (14-07-2013)

  19. #17
    Administrator jt999's Avatar
    Join Date
    Jul 2013
    Location
    Eastbourne
    Drives
    Mercedes A Class AMG Line
    Posts
    3,639
    Thanks
    89
    Thanked 288 Times in 242 Posts
    PM'ed you

  20. #18
    'LS' Member
    Join Date
    Jul 2013
    Location
    Whitley Bay
    Drives
    2013 (62) Corsa S 1.0 Ecoflex
    Posts
    57
    Thanks
    13
    Thanked 5 Times in 5 Posts
    Experian have an option to match you (with your current credit score) to lenders that would be willing to lend you the money
    [COLOR=#0000ff][I][B]Drive a 2013 (62) Vauxhall Corsa S 1.0 Ecoflex. Owned by me since February 2013.
    [/B][/I][/COLOR][COLOR=#ff8c00][I][B]Tutorials can be found [URL="https://www.thecorsa.co.uk/tutorials/"]here[/URL]. Search the forum [URL="https://www.thecorsa.co.uk/search.php"]here[/URL].[/B][/I][/COLOR]

  21. The Following User Says Thank You to tony-1977 For This Useful Post:

    jt999 (14-07-2013)

  22. #19
    Administrator jt999's Avatar
    Join Date
    Jul 2013
    Location
    Eastbourne
    Drives
    Mercedes A Class AMG Line
    Posts
    3,639
    Thanks
    89
    Thanked 288 Times in 242 Posts
    I'm trying to avoid signing up with them again, it was a right pain to cancel that...

  23. #20
    'LS' Member
    Join Date
    Jul 2013
    Location
    Whitley Bay
    Drives
    2013 (62) Corsa S 1.0 Ecoflex
    Posts
    57
    Thanks
    13
    Thanked 5 Times in 5 Posts
    They cancelled mine no problems. A quick email and it was sorted?
    [COLOR=#0000ff][I][B]Drive a 2013 (62) Vauxhall Corsa S 1.0 Ecoflex. Owned by me since February 2013.
    [/B][/I][/COLOR][COLOR=#ff8c00][I][B]Tutorials can be found [URL="https://www.thecorsa.co.uk/tutorials/"]here[/URL]. Search the forum [URL="https://www.thecorsa.co.uk/search.php"]here[/URL].[/B][/I][/COLOR]

Page 1 of 2 12 LastLast

Similar Threads

  1. New wheel colour options.
    By Danny in forum Car Chat
    Replies: 13
    Last Post: 28-07-2013, 09:26 PM
  2. Replies: 21
    Last Post: 26-07-2013, 07:29 PM
  3. Credit/finance for a washer dryer
    By hoppydan in forum General Chat
    Replies: 22
    Last Post: 25-07-2013, 11:43 AM
  4. Car leasing options
    By jt999 in forum Car Chat
    Replies: 36
    Last Post: 23-07-2013, 04:09 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •