Car Purchase

chinton25

Hi,

Hope this is the right section.

I need to upgrade my 10 y/o Laguna. It's due it's MOT this month and hopefully it will pass but if not I will be in a right mess as I have no savings really. The car is not worth much so would be pointless having a lot of work done on it.

I applied to Sainsburys and Halifax for a personal loan of £3000 so I can buy a 2nd hand car but they both declined me. One this month, one about 2 months ago. I am really panicking now. I am not the best with money and got myself into a bit of debt when I was back at college and it really affected my credit history.

I would ideally like to get my car through the MOT and then buy a new van (need a van rather than car really for our dogs) a Berlingo on the scrappage scheme but without the savings/a loan i don't see how it is possible. I just wondered if anyone can advise if Car Dealers are more likely to offer a car on finance and accept my application, rather than the banks refusing me a personal loan? Are they more lenient than the banks? I don't want to keep having credit checks done as it will just get worse.

If my car doesn't pass and I lose it I wont be able to travel 30 mins to work every day as there is no public transport route and I will lose my job. I am paniccing so much. Can anyone suggest whether they think the car finance route would be suitable?

If I could wait and save up for an old banger I would, happily spend £1000-2000 on a second hand van and be done with it but if it fails the MOT i will be car-less and unable to get to work! Maybe the £3000 loan application was a bit adventurous and now I'm too worried to ask again for a smaller amount.

Thank you in advance for any help

chinton25

Bump

hartcjhart

If as you say you are not good with money then I think the car finance route is a no no, the interest rates are very high,

If you have had the lag a long time and it has been reliable then get it MOT'd and keep it,

if you need more space in the back consider removing the rear seat backrests

chinton25

Yes I have had it 2 years and my dad before that for 8 and it's a good car. If the car itself is only worth a couple of hundred and it needs a lot of work to get through the MOT (fingers crossed it wont) are you saying its best to spend the money on that rather than interest?

The more I read about the scrappage scheme the more put off I am?

hartcjhart

chinton25 wrote: »

Yes I have had it 2 years and my dad before that for 8 and it's a good car. If the car itself is only worth a couple of hundred and it needs a lot of work to get through the MOT (fingers crossed it wont) are you saying its best to spend the money on that rather than interest?

The more I read about the scrappage scheme the more put off I am?

yep thats exactly what I am saying,you know this car,even if it was £400/£500 to fix that would be better than to saddle yourself with a very big debt for 4/5 years

mcjordi

better the devil you know is the old saying

you may be suprised it may pass straight through

chinton25

OK thanks for the advice.. yes I think that's what I'll be best doing then.

Like you say, you never know.. it MAY pass !!!

hewhoisnotintheknow

for the sake of 40 quid get it mot'd asap, if it fails you still have time to sort something, if it passes happy days

If its been a good car i would hang onto it

chinton25

OK it's booked for Saturday!

I have done another thread now as I am panicking about things it might fail on!!