Car Loan

sveaney

Hi all,

I have an income of £1982 pcm and i have been rejected for car credit through 3 different loan companies the dealer has tried. now basically a few years ago i got into a big of bother with a few companies and i have nearly paid my debt off, paying back £500 a month. Now i can afford around £200 on a new car.. as mine has just about had it. I have been googling car loans, and it seems you can secure a loan against your car. Has anyone done this before...

For example.. 'carloan4u' Although it doesnt state an APR, but what happens i think is that the company pay the dealer and then it gets secured against the car. anyone any experiance with this that can help me out

regards

stuart

iolanthe07

I would avoid any company with a name like 'carloan4u' like the plague. They sound very sub-prime. If their business practice is as bad as their English usage they will probably rip you off.

sveaney

lol, good point.

do you recomend any companies

RobertoMoir

sveaney wrote: »

lol, good point.

do you recomend any companies

Your bank?

RobertoMoir

iolanthe07 wrote: »

I would avoid any company with a name like 'carloan4u' like the plague. They sound very sub-prime. If their business practice is as bad as their English usage they will probably rip you off.

Got to agree with this. I try hard not to do business with companies with stupid "txt spk" names like this at all*, and so far it's served me well. I assume the owner has a short attention span if they can't be bothered to write out their business name properly and I don't want the same "care" applied to whatever services I would be buying from them.

kaisersoze_2

carloan4u as far as i am aware are a broker and deal (for example) with companies like welcome finance.

If you have nearly cleared off your debt could you not wait a little bit then save up and buy it yourself without the need of finance?