Personal Loan rejected - Advice needed

Strider007

erm.....odd question but up until recently the place that I worked had a free bus service which took us to work but they plan on cancelling it soon and so getting to work will become difficult and so need the benefit of the car. Plus a newly aquirred gf lives a bit away and so having a car will make it easier.

Tixy

Regarding the insurance - have you read the article on getting the best deal? do you have a parent or partner who could go on as a named driver and have you got quotes to see how much this will reduce the price?

Have you considered getting a very cheap runaround (£200-300) and just insuring it third party, fire & theft (this may or may not be the right option for you but its what my friends and I all did for the first year or 2 of owning a car- my first car cost £120).

Strider007

Insurance wise I've already accounted for a parent on it and Third party only reduces it a slight amount.

Got my credit card through and have a measly limit of £260

Regarding a cheap car, I could do but I don't really want to be paying £1000 on insurance for a car that's only worth around £300-500. Plus factor in what will no doubt be repairs with any issues I'm bound to have with it then its not a cheap car any more.

I even tried upping the limit of my CC and got rejected. I don't think there is any possible way for me to get money to buy a car. My only choice now is save the cash up and and in the mean time use my new CC to start building up my credit history.

iamana1ias

Strider007 wrote: »

Insurance wise I've already accounted for a parent on it and Third party only reduces it a slight amount.

Got my credit card through and have a measly limit of £260

Regarding a cheap car, I could do but I don't really want to be paying £1000 on insurance for a car that's only worth around £300-500. Plus factor in what will no doubt be repairs with any issues I'm bound to have with it then its not a cheap car any more.

I even tried upping the limit of my CC and got rejected. I don't think there is any possible way for me to get money to buy a car. My only choice now is save the cash up and and in the mean time use my new CC to start building up my credit history.

Is the right answer. The link on this thread to martin's article tells you all you need to know about credit.

Strider007

Quick question, will trying to up my credit card limit appear on my credit history? or would that just be an Barclays internal thing?

At the end of the month I'll have enough for a car for around £1500 and enough to cover the insurance. In a years time once my credit history is a lot better Ill attempt getting a nice car with a loan. All this saving and spending isn't easy while saving for a house deposit as well!

And I'll check out the article, Ill need all the tips to get my credit rating up.

iolanthe07

You should always be on the electoral roll anyway (its actually a legal requirement)

No it isn't.

Tixy

iolanthe07 wrote: »

You should always be on the electoral roll anyway (its actually a legal requirement)

No it isn't.

Yes it is.

See here https://www.uk.equifax.com/ee4/WebHelp/electoralroll.htm

or loads of other places online

iolanthe07

Yes it is.


No it isn't. The legal requirement is to list all occupiers over 18 if you send the form in. There is no legal obligation to return the form if you don't want to.