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  • stephane
    • #2
    • 24th Feb 13, 5:42 PM
    • #2
    • 24th Feb 13, 5:42 PM
    That will all depends on your credit history....
  • kperry1034
    • #3
    • 24th Feb 13, 5:49 PM
    • #3
    • 24th Feb 13, 5:49 PM
    That will all depends on your credit history....
    Originally posted by stephane
    credit is fair,no defaults,or any missed payments,not on electrol role,but will be after the 1//3/2013
  • Apples2
    • #4
    • 24th Feb 13, 6:01 PM
    • #4
    • 24th Feb 13, 6:01 PM
    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)?
  • kperry1034
    • #5
    • 24th Feb 13, 6:08 PM
    • #5
    • 24th Feb 13, 6:08 PM
    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
    • forgotmyname
    • By forgotmyname 25th Feb 13, 1:41 AM
    • 21,919 Posts
    • 8,604 Thanks
    forgotmyname
    • #6
    • 25th Feb 13, 1:41 AM
    • #6
    • 25th Feb 13, 1:41 AM
    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.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
  • pheonixrising21
    • #7
    • 25th Feb 13, 8:58 AM
    • #7
    • 25th Feb 13, 8:58 AM
    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.
    Originally posted by forgotmyname
    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)
    • poppasmurf_bewdley
    • By poppasmurf_bewdley 25th Feb 13, 10:49 AM
    • 4,552 Posts
    • 4,638 Thanks
    poppasmurf_bewdley
    • #8
    • 25th Feb 13, 10:49 AM
    • #8
    • 25th Feb 13, 10:49 AM
    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?
    Originally posted by pheonixrising21
    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.
    SIR WINSTON S. CHURCHILL: WE HAVE OUR OWN DREAM AND OUR OWN TASK. WE ARE WITH EUROPE, BUT NOT OF IT. WE ARE LINKED BUT NOT COMBINED. WE ARE INTERESTED AND ASSOCIATED BUT NOT ABSORBED. IF BRITAIN MUST CHOOSE BETWEEN EUROPE AND THE OPEN SEA, SHE MUST ALWAYS CHOOSE THE OPEN SEA.
  • pheonixrising21
    • #9
    • 25th Feb 13, 11:39 AM
    • #9
    • 25th Feb 13, 11:39 AM
    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.
    Originally posted by poppasmurf_bewdley
    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)
  • kperry1034
    Can vt the car,because its a point of sale agreement (ACF ripped me off) settlement fig is £3700,car px is about £1100
    • forgotmyname
    • By forgotmyname 25th Feb 13, 10:33 PM
    • 21,919 Posts
    • 8,604 Thanks
    forgotmyname
    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?
    Originally posted by pheonixrising21

    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.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
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