£4000 loan required HELP

selfconfessedlunatic_2

Hey all,

Looking for a £4000 loan to replace our car? But have real bad credit.....any ideas ????

redpete

cheaper car? (serious suggestion)

stqueen

Could you sell your current car and buy a cheap run around?

Blitz01

selfconfessedlunatic wrote: »

Hey all,

Looking for a £4000 loan to replace our car? But have real bad credit.....any ideas ????

Buy a bike.
Why would any lender give someone with poor credit history £4K? Would you?
People with good credit are struggling to get finance at the moment.

Peelerfart

Call me old fashioned but - save up ?

somethingcorporate

Peelerfart wrote: »

Call me old fashioned but - save up ?

I thought your post looked familiar: https://forums.moneysavingexpert.com/discussion/3082916

KingElvis

LOL, I don't think the whole new car thing is going to work out for you.

Enfieldian

selfconfessedlunatic wrote: »

Hey all,

Looking for a £4000 loan to replace our car? But have real bad credit.....any ideas ????

Sure....

There are thousands of lenders out there just falling over themselves to lend money to people with a track record of not paying it back on time, if at all.

Fill your boots.

Mallotum_X

redpete wrote: »

cheaper car? (serious suggestion)

Yep cheaper car is the best way.

Stop trying to live beyond your means and get an old banger.

Apples2

Appropriate username though

archer7

Think we're being a bit mean here. Some people do have a genuine need for a replacement car. BUT, we do need to ask the horrible questions otherwise we're not doing our job

Question: is your car really essential? Think HARD about that one. Are there really no buses to work etc? Can you get a bike? It might be a change, but it will save you thousands.

If it really, REALLY is, and you absolutely cannot possibly save up, get a cheaper car. A poor credit rating will not give you a good rate of interest from any lender, if you actually manage to get credit in the first place. Is there anything you can sell to raise a few hundred towards it?

I have no idea what car finance interest rates are like but none of the compound interest sums I've tried on £4000 look very nice. You will most likely struggle to get credit and the interest rate will be horrific. Think very carefully if this is something you want to do. If so, you already have advice in the other thread pointing you to the big evil car supermarkets.