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car finance
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# 1
kperry1034
Old 24-02-2013, 5:38 PM
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Default car finance

How hard is it to get finance on a new car,looking at a car for 7000 ,but have 3700 settlement on my current car..
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# 2
stephane
Old 24-02-2013, 5:42 PM
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That will all depends on your credit history....
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# 3
kperry1034
Old 24-02-2013, 5:49 PM
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Quote:
Originally Posted by stephane View Post
That will all depends on your credit history....
credit is fair,no defaults,or any missed payments,not on electrol role,but will be after the 1//3/2013
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# 4
Apples2
Old 24-02-2013, 6:01 PM
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If any lender looked at your posting history on here they would all run a mile. It seems you haven't repaid anything....ever!!
Good job they only keep records for a finite time.

Why would you be offloading a car with nearly 4k owing (are those payments up to date/any missed/late)?
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# 5
kperry1034
Old 24-02-2013, 6:08 PM
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sorry mum.........did have poor past bad credit from 6 years ago,managed to get my self sorted,the reason my car is at 4000 because it was from ACF with 48.9 Apr,so I want rid asap
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# 6
forgotmyname
Old 25-02-2013, 1:41 AM
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Is your credit good enough to borrow 11,000 ??

Thats a huge shortfall to stick onto the value of the next car.

Not on the electoral roll will be an issue. Being on there for a short time will also be an issue because they will ask for the last 6 years.

No trace may scare them away, Will you be taking this loan and vanishing off the face of the planet?

They like stable people, Long time at one address and one job. Preferably people that dont need to borrow money.
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# 7
pheonixrising21
Old 25-02-2013, 8:58 AM
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Quote:
Originally Posted by forgotmyname View Post
Is your credit good enough to borrow 11,000 ??

Thats a huge shortfall to stick onto the value of the next car.

Not on the electoral roll will be an issue. Being on there for a short time will also be an issue because they will ask for the last 6 years.

No trace may scare them away, Will you be taking this loan and vanishing off the face of the planet?

They like stable people, Long time at one address and one job. Preferably people that dont need to borrow money.
Where do you get the 11,000 figure from? Just curious, as the OP mentions 7k for the new car, with a settlement of 3,700. There is no mention of how much the old car is worth or how much deposit the OP is going to put in.

So, unless the old car is worth 0 and the OP is putting in no deposit at all, I'm struggling to understand where 11k comes from?
Santander Loan 3003 2100
AA Credit Card 3148 2676
Natwest OD 1500 1370
Cahoot OD 1000 650
Capital One Card 641 400
Total (Jan 12) 9546 7196 (Now)
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# 8
poppasmurf_bewdley
Old 25-02-2013, 10:49 AM
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Quote:
Originally Posted by pheonixrising21 View Post
Where do you get the 11,000 figure from? Just curious, as the OP mentions 7k for the new car, with a settlement of 3,700. There is no mention of how much the old car is worth or how much deposit the OP is going to put in.

So, unless the old car is worth 0 and the OP is putting in no deposit at all, I'm struggling to understand where 11k comes from?
I think it's a fair assumption that the present car will be in negative equity. If it's not, then it's up to the OP to tell us.

I would ask the OP if the present loan is a HP agreement? If it is, have you paid at least half the payments? If it is, and you have, then you can Voluntarily Terminate the agreement and hand the car back.

If not, I think it is fair to assume you will have to borrow about 11k, and from what little you have told us about yourself, that target would seem to be unattainable.



I used to be a Conservative, but I'm better now.
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# 9
pheonixrising21
Old 25-02-2013, 11:39 AM
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Quote:
Originally Posted by poppasmurf_bewdley View Post
I think it's a fair assumption that the present car will be in negative equity. If it's not, then it's up to the OP to tell us.

I would ask the OP if the present loan is a HP agreement? If it is, have you paid at least half the payments? If it is, and you have, then you can Voluntarily Terminate the agreement and hand the car back.

If not, I think it is fair to assume you will have to borrow about 11k, and from what little you have told us about yourself, that target would seem to be unattainable.
It probably is fair to assume some negative equity, but to get to a figure of having to have credit enough for 11,000 on a 7,000 new car is assuming that the old one is worth absolutely nothing! Obviously we won't know the true value unless the OP tells us.

Good shout on the VT though
Santander Loan 3003 2100
AA Credit Card 3148 2676
Natwest OD 1500 1370
Cahoot OD 1000 650
Capital One Card 641 400
Total (Jan 12) 9546 7196 (Now)
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# 10
kperry1034
Old 25-02-2013, 8:35 PM
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Can vt the car,because its a point of sale agreement (ACF ripped me off) settlement fig is 3700,car px is about 1100
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# 11
forgotmyname
Old 25-02-2013, 10:33 PM
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Quote:
Originally Posted by pheonixrising21 View Post
Where do you get the 11,000 figure from? Just curious, as the OP mentions 7k for the new car, with a settlement of 3,700. There is no mention of how much the old car is worth or how much deposit the OP is going to put in.

So, unless the old car is worth 0 and the OP is putting in no deposit at all, I'm struggling to understand where 11k comes from?

Psychic. Seems i must have had an off day as its only 9900 they need to borrow. Note to myself: MUST TRY HARDER.

It just shouted to me i must get a new car this ones ready for the scrappers.
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