Car Loan Help Needed. Please

MINI-Cooper-S

Hi all,
lets get the basics out of the way, I am 19, have a well paid job as an IT Administrator and have been with my current company for 5 months.
I currently have an old petrol car and with the amount of miles I am covering due to work and personal life I cover up to 2000 miles a month.
My car I starting to take the strain and seems to be in the garage every month having yet something else done to it.

I have been looking at getting a new car (not brand new) something around the 2002 mark. Obviously a diesel to try and save a bit on travelling costs.

I am looking to borrow about 6.5k to get me something decent.
I could afford to pay the loan off over 3 years quite easily.
The only problem I am having seems to be that lenders look at my age, then how much I want to borrow and say no.
I mean to an extent i expexted that, but there must be a company out there that doesnt....

Has anyone got any ideas or recommend any companies that I could go to?

It is becoming quite desperate now as so far I have spent more than two times of the price I paid for my current car in repairs.

Thanks in advance :-)

Chris

Robert_Sterling_3

If a car is essential to you work why does the company you workk for provide a car?

MINI-Cooper-S

I work quite a distance away, so thats why i need the car.
Its only about once a week i go out to site to do company work.

mr218

can you get a parent to guarantee the loan or get the loan for you. you can arrange to pay them monthly

illmonkey

are you sure that its your age?

I am the same as you, 19, in IT. and i managed to get a £14k loan as well as having 3 cards with 1 having 8k limit the other 2 having 3k limit.

Whats your salery, if you dont mind me asking. It obviously determins your loan etc.

Robert_Sterling_3

Are you on the Electoral Roll?

Stonk

Could you ask your employer for an interest-free loan to cover it, explaining that the main reason you need it is because of your work?

A lot of employers give interest-free loans for season tickets (for trains, not for football). Your situation isn't all that much different.

MINI-Cooper-S

Going to speak to my employer today.

Been refused loans by a few companied so far....

Anyone know of any companies that would give me a loan?
(assuming my employer says no)

Thanks

Chris

asandwhen

I wouldn't bother trying again for 6 mothns if you have been refused all those times - you will wreck whatever credit rating you do have.

Rafter

Sounds like you don't have much of a credit history on which a lender can make a decision.

Do you have a bank account? Other credit cards? As already mentioned are you on the electoral roll? Otherwise getting your parents to take out the loan and you pay it might be the only option.

Good luck

R.

PS - The Mini Cooper S isn't a diesel unfortunately

Tomasz

You won't get a cooper S for £7k either, and I wouldn't recommend doing 2k miles a month in one, you'd be lucky to get out of the twenties for fuel consumption! Great little run around car though