car loans 4u

stephy110288

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hi,
just wondered if anyone could give me some advice.
i got into trouble two years ago with money and for that reason i have a really poor credit rating. no ccjs, but plenty of defaults. i'm back on the right track now and for the first time in years i'm comfortable with money.
however, during this difficult period i had to sell my car. i have been without one for over a year but i really really struggle, all i want is a cheap run around.
i researched car loan companies for bad credit and found car loans 4u, they have great reviews on the internet surprisingly. i have applied but really dont know if i will be accepted. does anyone have any experience with them?
and another question, does anyone know if you have problems being able to pay car insurance monthly if u have bad credit, do they credit check you??
any advice is greatly appreciated
thanks
steph

michael1983l

You'd be better off applying in the dealer [text removed by MSE Forum Team]. If your deposit is big enough and your recent history is good 6-12 months then you should be ok. As for your insurance you should get it as they ask for a 3 month payment up front anyway meaning they will have little chance of losing out.

stephy110288

really? i thought i would need to wait about three or four years before ever being accepted by "normal" lenders again. i just hate the humiliation of being declined! i havent had any bad marks to my credit rating for a year, and the last credit search carried out on me was by my bank for my student account, so maybe its worth a shot

davetrousers

Remember Gap Insurance

How much do you want to borrow?

stephy110288

around £1500- £2000, i'm going to see if they ring me back and what they say. i really struggle without a car as i work late shifts so no public transport and i think i end up spending more than i would on a car on bus passes, trains, taxis etc. so i'd like one as soon as possible instead of saving for a year, but i know that my bank definitely will decline me as i had to go to the underwriters just for a student account with no overdraft

CHR15

Not so good reviews about them on here (funnily enough!)

http://forums.moneysavingexpert.com/showthread.html?t=2221395&highlight=carloans4u

http://forums.moneysavingexpert.com/showthread.html?t=591185&highlight=carloans4u

I wouldn't go anywhere near a company with a name like that. It is almost the bread and butter of rip off "here today gone tomorrow" companies (I'm sure phones4U have regretted using a 4).

stephy110288

i didnt realise they were a broker. i just dont think i have any other options as i'm pretty desperate for a run around before the summer. i will post on here what they say when they call back, i'm not expecting to even be accepted, and if i do, i'm sure their rates will be high

stephy110288

i just had a text back from them saying that they are unable to help! guess i'll start saving then!!

CHR15

Blessing in disguise!!

iolanthe07

They've done you a favour. Could you really trust a company with stupid text speak as its name?

Former_MSE_Andrea

Hi

Car Loan 4 u has asked us to post a response on its behalf. MSE doesn't endorse anything a company says on the forum.

We work really hard to provide a transparent and fair service to all of our customers, regardless of their credit history. Car Loan 4U is a car finance broker, which means that we are able to offer products from a panel of 11 different finance companies, including some high street lenders such as Barclays and Santander. As a responsible business, we will try and find a financial solution for the majority of our clients, although the rates will vary dependant on each of our customers' personal credit history.

We hope you managed to source your finance elsewhere, and would like to thank you for the feedback relating to the quality of service you received from Car Loan 4U.