Bad credit loan - REAL ones.

RugbyPete81

Hi,
As many of you know as soon as you call about a bad credit loan youre bombarded with tons of "debt help" cold calls

I dont have debt problems, i just have a black mark £80 ccj from when i moved home and I thought my mobile phone contract had finished (it still had a month left)

Anyway...
Can anyone advise which are genuine - i am looking to buy a car, but a car loan is no good as the car will be about 9 years old (often small print requires the age to be under 5 years).

Require approx 7500

Thanks

Tixy

There are no genuine bad credit loan companies any more.

If you start searching online they will mostly be scam brokers or at best you'll find payday loans which clearly are unsuited to your situation.
The only bad credit lenders are places that offer guarantor loans - really bad idea, far better for the guarantor to take out a much cheaper loan in their own name.

How old if your CCJ? is it paid off and marked on your file as such?

lawrie28

9 yr oldcar for MORE than £7.5k - nice wheels!

jc808

lawrie28 wrote: »

9 yr oldcar for MORE than £7.5k - nice wheels!

thats what i was thinking

either its a secondhand ferrari or weve not got the full story

hmmm

RichGold

Sounds like overstretching yourself for a 9 year old car OP.

You could almost buy a brand new small car for that.

Phils_debt

Sounds like a mk1 focus rs they go for similar monies

DCFC79

Bit much for a car thats 9 years old(even if it a mk1 focus), is it a neccessity you buy 1 so expensive.

RichGold

If you're not to worried about style, comfort, performance, equipment or handling your £7500 would be better spent here.
http://www.nissan.co.uk/GB/en/vehicles/city-cars/note.html#vehicles/city-cars/pixo

Not sure if the chicks would dig this one though.

paddyrg

RugbyPete81 wrote: »

Hi,
As many of you know as soon as you call about a bad credit loan youre bombarded with tons of "debt help" cold calls

I dont have debt problems, i just have a black mark £80 ccj from when i moved home and I thought my mobile phone contract had finished (it still had a month left)

Anyway...
Can anyone advise which are genuine - i am looking to buy a car, but a car loan is no good as the car will be about 9 years old (often small print requires the age to be under 5 years).

Require approx 7500

Thanks

Hi, I assume that £80 was paid as soon as you were notified, and is marked as paid, etc? If so, you could try the 'listings' on zopa - it's peer lending, and the listings have all sorts of stories on them, so you may get lucky there. Also yes-secure do peer lending at the subprime end.

Personal as it sounds, what is your income and what other debt/available debt do you have? The CCJ is going to count against you of course, but if it means no other debt, it did you a favour, and you would be looking at a salary of maybe £20k to borrow £7500 after other lines of credit.

£7500 for a second-hand car? Fine, it's your finances, maybe you need the car for something, maybe it is specialist equipment, maybe you're doing weddings in a Bentley, we don't know. I'm sure it's worth it to you in order to consider it.

jamesd

Have you tried normal lenders? Some will accept a low value CCJ that has been paid off some time in the past. The older it is, the better the chance.

Zopa ceased offering Listings a couple of weeks ago and would be unlikely to accept anyone with a CCJ anyway.

KingElvis

No such thing as bad credit loans for that kind of dosh, dreamland...don't exist etc etc

I would pay 7.5k for a Shaguar