self employed car finance

drakeuk

hi guys, im after buying a car for around the £8000 mark but am having trouble finding a good finance package, im gonna put down £2000 deposit. i have been told by the company i got my last quote off that i have exellent credit rating, because i own 2 houses one of which is payed for and the other one is rented out but because i am self employed (sub contractor in construction, on cis scheme, they deduct my tax etc. and i recieve fortnightly wage slips). and have been for around 6 years i am struggling to get a good deal. could anyone point me in the right direction or give any useful advice when applying for finance, thanks in advanced

Premier_2

drakeuk wrote: »

... i have been told by the company i got my last quote off that i have exellent credit rating, ...

Why don't you get them to lend you the money at a good rate?
Remember BoE rate is currently 0.5%, how much more loading they apply will indicate whether you are as good a risk as they say. If they won't lend you the money, well...

AdrianHi

I think it's got a lot to do with you earning a living in construction which, rightly or wrongly, is seen as a high risk source of income right now.

Going back to your previous lender sounds like a good idea if that can offer something decent.
Do you have a flexible mortage?
Could you borrow what you need out of any spare funds there?

I'm self employed too in IT, first class credit rating, car dealer was trying to talk me into borrowing the whole value of the car in 2005.

I plan on keeping my flexible mortage ticking over on a minimal amount for some years after I'm able to pay it off to provide a way of cheaply financing car purchases until I can go completely loan free.