Help please - On DMP but need to finance a new car

lemoncheesecake

Garage have said that the engine is knackered on the car and not worth repairing.

I absolutely have to have a car so that I can work - its a requirement of the job.

We're on a DMP and have no money. The £500 savings I have scrimped together were just paid out to the garage to get car through the MOT less thn 3 weeks ago.

is there anywhere that we can apply for finance? Credit rating is rubbish

oh and we'll need a 7 seater

someone please helpme with this as cant see a way out at the moment

Tixy

Hi. Nearly always as part of a DMP you agree not to take on any more credit, so be careful not to jeapodise this agreement. You may invalidate your DMP and the provider may stop your DMP.
Who is your DMP with? Perhaps speak to them for advice.
Maybe you could drop your monthly payment right down for 2-3 months to allow you to get some money saved to buy a cheap car?

onlypaddy

must be a pretty crappy garage if they missed the engine knackering up during an mot.....

Charco_2

You might be allowed to reduce your payments to your DMP to get one on HP (if you can find a company to lend) on the grounds that without it you cannot work and therefore would have NO money!

Less money is better than none!

Make sure to only sign up to an agreement that is affordable! (ie - one that will still leave you with some kind of surplus income to offer to your other creditors)

On top of this, if your company do throw the baby out with the bathwater (unlikely) and close your DMP then you can always go to another company (who are you with) or look at other debt solutions like IVA or Bankruytcy...

End of the day, if you can't work without a car then then you have to have a car!

callywally

I know how you feel because I will be in the same situation at some point in the next few months.
I know my car wont go on much longer, but like you am on a dmp and need a car fo work.
I have not worked out what to do yet.

LandyAndy

onlypaddy wrote: »

must be a pretty crappy garage if they missed the engine knackering up during an mot.....

idiot............

LandyAndy

onlypaddy wrote: »

must be a pretty crappy garage if they missed the engine knackering up during an mot.....

Or, to be more specific, who's to say whether there were engine issues 3 weeks ago?

For instance, cambelts don't wave at you and say 'Hey, I'm about to snap in a few weeks' they just go and that could be as you drive away from the MoT station.