Getting a car with bad credit rating

[dbelle]

I may need to buy a car in the next month or so, if I get a new job which requires me to travel.

Trouble is I have a really bad credit rating (and so does my partner) and lots of credit

We already have one car on finance which we pay for just fine, although we have missed a few payments. Mr uses this to go to work in as he needs a car for work too.

Being in so much debt we don't have any savings so I can't buy a car straight off, so I'd need some kind of loan for a used car (preferable as its cheaper) or to get a new car or a car from a dealership that is used with finance.

Does anyone offer finance on a car for bad credit ratings without terribly high interest?

I think this may be a long shot but I might get a job offer that is too good to miss out on but needs me to have a car.

:confused:

[davetrousers]

How about a cheap moped or something?

If you are in that much debt and have finance already, I am not sure you need to be borrowing even more! Especially as you mentioned (as a possibility) a new car from a dealer.

[dbelle]

I think I'd have a bit of trouble as I can't even ride a bike. :o

The most I could afford to spend on a car would be about £300 in cash without finance, but can you get a good reliable little runner for that much?

[Conor]

Yes. I rarely spend over £300 for a car. What you want to be looking at are the models people don't like. Fortunately that tends to leave you looking at Rovers - mainly 200 and 400 series. The other good thing about this is that the older Rover 200 series was the motor of choice of "Gordon McGyver, Sunday Driver" meaning there's a lot of them out there that were owned by retired people who cherished them and looked after them. It's this kind of motor you want to be looking at.

The other models are ones that used to be sales rep motors. So you're looking at MK1 Mondeos, Vauxhall Cavaliers - both of which will leave you with a massive choice.

Don't be scared about high mileage. Modern (Post 1992) cars can easily hit 200,000 miles with "reasonable" maintenance. I'd personally rather buy a car with 170,000 miles on with most of that having been in 5th gear on the motorway than a car with 50,000 miles on that's been all town driving.

It's very possible to find such motors with full service history and MOT'd for £300.

[dbelle]

That's great, thank you.
I am looking for a fairly small car, I'm not sure I'd be any good with anything like a mondeo etc. Autotrader has lots of good priced small cars, 106's, Micra's etc.

[iolanthe07]

which we pay for just fine, although we have missed a few payments.

Eh? If you've missed a few payments, you're not paying for it 'just fine', are you?

[Conor]

That's great, thank you.
I am looking for a fairly small car, I'm not sure I'd be any good with anything like a mondeo etc. Autotrader has lots of good priced small cars, 106's, Micra's etc.

Sadly, because small cars are cheap to insure for young drivers, they're rarely cheap.