Car allowance but poor credit

andylong42

Hi all,

I have been offered a new job that comes with a reasonable car allowance of 450/month. My current job provides a company car that I will obviously lose once I quit.

The problem is that I am currently on a DMP and obviously have a poor credit history. What options do I have for getting the new car? It is hard to go to a new employer and tell them that I might not be able to get credit for a car. Do credit companies take into consideration the fact that I am getting a guaranteed monthly figure to pay for the car???

Please help as I am worried sick!

forgotmyname

I would imagine most finance companies wouldnt touch you.

lease a car?

Or the dreaded companies that will finance anyone as long as your breathing. Overpriced heaps with extornionate APR's.
Mate bought one 3 months later trading standards contacted him, Car shouldnt have been on the road.

Kilty_2

forgotmyname wrote: »

I would imagine most finance companies wouldnt touch you.

lease a car?

A lease is from a finance company anyway in effect, so it might be a struggle .

forgotmyname wrote: »

Or the dreaded companies that will finance anyone as long as your breathing.

:rotfl::rotfl:

rev_henry

andylong42 wrote: »

Hi all,

I have been offered a new job that comes with a reasonable car allowance of 450/month. My current job provides a company car that I will obviously lose once I quit.

The problem is that I am currently on a DMP and obviously have a poor credit history. What options do I have for getting the new car? It is hard to go to a new employer and tell them that I might not be able to get credit for a car. Do credit companies take into consideration the fact that I am getting a guaranteed monthly figure to pay for the car???

Please help as I am worried sick!

Hmm. If your employer would allow it (i.e. it doesn't say in your contract you MUST have a car or whatever) could you scrounge lifts/public transport for a few months, then by a cheap car with the car allowance you save up?

andylong42

No, the job requires me to travel so I would need a car from day one.