The Sub Prime Credit Thread - Part IV

spiritual1_2

ElkyElky wrote: »

Tried that. I don't know anyone who has a long driving history, only people with fairly new licences but even then, the cost tripled.

pity.....if u could find someone with 6years or more no claims under there own belt might been the route to go..........

spiritual1_2

oh elky been meaning to ask 4 a while uve got a sygma silver and flybe how long apart did u space out ure applications if u dont mind me askin i wanna get a flybe, so curious

Cash_Flow

Innocent_Guy wrote: »

Car finance is relatively easy to get approved for.

In many cases the ease of acceptance is reflected in the APR and the knocking sound coming from the engine.:eek:

ElkyElky

spiritual1 wrote: »

oh elky been meaning to ask 4 a while uve got a sygma silver and flybe how long apart did u space out ure applications if u dont mind me askin i wanna get a flybe, so curious

About a month.

spiritual1_2

Cash_Flow wrote: »

In many cases the ease of acceptance is reflected in the APR and the knocking sound coming from the engine.:eek:

that was my worry and thoughts complied into a lovely little little paragraph lol id only add to that higher apr for less perfect history complete with many more knocks

:rotfl:

spiritual1_2

ElkyElky wrote: »

About a month.

cool im sooooooooooo tempted now id been told previously to wait minimu of 6-8 months.........

Innocent_Guy

ElkyElky wrote: »

Is there usually an income requirement?

It depends on the deposit and cost of the vehicle.

You can put down as little as £500 deposit on a Merc C-Class and get a relatively good rate.

Innocent_Guy

spiritual1 wrote: »

yeah but at whate RATE of apr lol

TBH I have seen finance be granted to 18-19 year olds and they have been offered the advertised rates.... It totally depends on how much business the finance co is looking for. I have noticed more approvals on certain deals than other.

Innocent_Guy

spiritual1 wrote: »

oh elky been meaning to ask 4 a while uve got a sygma silver and flybe how long apart did u space out ure applications if u dont mind me askin i wanna get a flybe, so curious

I'm looking at also applying for the Flybe or the donate as you spend.

I was accepted for the Silver card recently but am yet to make a payment. I may clear the balance then make another application.

Any ideas?

Innocent_Guy

Cash_Flow wrote: »

In many cases the ease of acceptance is reflected in the APR and the knocking sound coming from the engine.:eek:

Most finance companies are reluctant to finance vehicles that do not meet a certain standard as the buyer COULD refuse to continue payments as the vehicle could not be fit for purpose

My experience is in main dealers though....