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Finance for a car whilst on benefits

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24

Comments

  • Fang_3
    Fang_3 Posts: 7,602 Forumite
    buffy87 wrote: »
    £80 jus on repayments? so is there no options at all anywhere for people in this situation?

    No. People on benefits can't get credit like that. It's reserved for the people who work to pay for those on benefits.
  • buffy87
    buffy87 Posts: 14 Forumite
    i dnt need opinions on me sisters situation i work and have no problem with people who actually need money to get it, i wouldnt deny someone who general needs it the basic cost of living, that says something about your character and not my sisters
  • Trazy
    Trazy Posts: 2,863 Forumite
    Part of the Furniture Combo Breaker
    what about a loan from the social. I dont know anything about them, just a shot in the dark
    If you tell the truth you don't have to remember anything. - Mark Twain
    Nappies and government ministers need to be changed frequently and for the same reason
  • xmaslolly76
    xmaslolly76 Posts: 3,974 Forumite
    There used to be companies who would lend to benefits clients but i fear those days are long gone i know lombard financed a caravan for my ex inlaws when they were on benefits but we are talking 8 possibly more years ago and i doubt they would do it now. It kind of p'd me off at the time as me and the ex couldnt afford a holiday even with both of us working full time yet they were on benefits and could afford an £6000 caravan but then thats a completely different situation to your sister they hadnt worked for 14yrs or more so im not having a dig more of a personal rant ;-)

    I would look at a shorter term loan for alot less money as others have said you can pick up a half decent car for a few hundred pounds i paid £750 for my last one and got 3 trouble free years out of it only thing i had to get were new tyres once and im sure if i had looked after it a bit better i would have gotten a couple more years out of it head gasket went in the end and was going to cost more to repair than the car was worth i still got £150 pounds scrap for it so i dont think i did to badly all in all :-)
    :jFriends are like fabric you can never have enough:j
  • buffy87
    buffy87 Posts: 14 Forumite
    thanks i think she could see about that
    i guess theres no finance options out there but thought id check on here
    i really value everyones advice so thanks everyone
  • DizzleUK
    DizzleUK Posts: 569 Forumite
    If you got a car on finance you would need...

    The loan (usually a minimum of £3k from car finance firms so would be more than £80 a month, more like £110)
    Gap insurance
    Car insurance
    Money for petrol
    Money for car tax
    A kitty for anything that goes wrong with the car.

    Whilst on benefits you don't have a hope in hell of getting a loan for that much.

    You may find a smaller personal loan for £750 depending on your credit rating for which you can by a pretty good car with.

    I paid £695 for an S reg Fiat Punto a couple of weeks ago.
    The £80 you think you will have from not using taxis/busses? That will cover your insurance premiums each month for someone who has less than one years driving experience and no NCB.

    Plan on £10 in petrol for every 75 miles you do.

    For the tax disc, you should find a car with some tax on it. Buy £5 savings stamps from the Post Office (they still do them) and this will help pay for the tax disc when its due. If you get a car like mine, it will cost you around £67 every six months.
    Remember this: nothing worth doing is easy.

  • DizzleUK
    DizzleUK Posts: 569 Forumite
    Trazy wrote: »
    what about a loan from the social. I dont know anything about them, just a shot in the dark

    The social would not loan money for a car. £10 to see you through to your next giro, maybe. £100 for a new carpet because your pipes burst and you have a baby on the way, maybe. A car? No way!
    Remember this: nothing worth doing is easy.

  • buffy87
    buffy87 Posts: 14 Forumite
    yeah i mean the £80 is for loan repayments only tax/petrol etc not included. calculated everything except gap insurance which dnt think will be opting for. i understand theres not going to be a chance of this now but it was worth checking anyhoo.
    £750 is a really good price for the car n the idea of the savin stamps is brill thanks
    if anyone knows some sort of personal finance for £750 that would be great
    really not too fussed bout the car its just most companies have a minimum loan amount
    thanks agen ppl
  • DizzleUK
    DizzleUK Posts: 569 Forumite
    buffy87 wrote: »
    yeah i mean the £80 is for loan repayments only tax/petrol etc not included. calculated everything except gap insurance which dnt think will be opting for. i understand theres not going to be a chance of this now but it was worth checking anyhoo.
    £750 is a really good price for the car n the idea of the savin stamps is brill thanks
    if anyone knows some sort of personal finance for £750 that would be great
    really not too fussed bout the car its just most companies have a minimum loan amount
    thanks agen ppl

    Go to autotrader website and you should see a little box on the right somewhere down the main page which will take you to a place where you can fill in some details and it will give you some suggestions on how to apply for a loan and with whom.
    Remember this: nothing worth doing is easy.

  • woody01
    woody01 Posts: 1,918 Forumite
    OP.
    Why on earth would you think a lender would give money to someone that doesn't earn anything?

    1. The lender would have to be a certified fool
    2. The borrower would be back here within weeks asking how they can get out of payiong it back.
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