Anyone had any experience of carfinance 24/7 or similar?

Lessbutbetter

Anyone had any experience with these sub prime Car finance lenders?

If anyone has had a good experience with a SP car lender then please let me know which one.

Of course I understand that rates of interest are high, if you're considered a bad risk due to dodgy credit history. Mine is pretty good, however i've been reading about people who've applied through main dealerships and it seems quite hard to get accepted. I've been checking out the SP lenders and maybe it's a silly thing to be doing as i've read horror stories.

My little Audi A3 is getting old now and i'd like to upgrade, possibly to a newer A3 but i reckon i'd not be accepted for audi finance.

what d'you well informed people reckon?

Lessbutbetter

Seemingly not.

Anyone had any good experiences with any car finance recently?

fivetide

If you have to go to a SP lender then I'd say you can't afford it.

If your car is in decent nick and will last a while longer put the payments to one side and save up for a decent deposit. that should make all the difference.

5t.

Lessbutbetter

Having to go Sub prime has nothing to do with affording it. I'd be choosing that route because i was rejected by a main dealership. It is very difficult currently to get acceptance with the likes of Audi, as their criteria is rather high. My car is in decent nick but i don't to get to the stage where something major goes wrong, and it costs me 50%+ of the price of the car to get it fixed.

Been reading alot today on this, and it really does only seem like an option if the interest is low [the likes you'd be offered by a main dealer with good credit] as the total cost is so high. Also, high interest on a heavily depreciating purchase would probably bring me to tears by the time its paid off and worth about a quarter of what i paid in total.

Thanks 5T

fivetide

Lessbutbetter wrote: »

Having to go Sub prime has nothing to do with affording it. I'd be choosing that route because i was rejected by a main dealership. It is very difficult currently to get acceptance with the likes of Audi, as their criteria is rather high. My car is in decent nick but i don't to get to the stage where something major goes wrong, and it costs me 50%+ of the price of the car to get it fixed.

Been reading alot today on this, and it really does only seem like an option if the interest is low [the likes you'd be offered by a main dealer with good credit] as the total cost is so high. Also, high interest on a heavily depreciating purchase would probably bring me to tears by the time its paid off and worth about a quarter of what i paid in total.

Thanks 5T

That's it in a nutshell. Interest rates are a joke really and going SP will just make it worse.

Get the current motor a decent check over I'd say and if it doesn't need anything material (say tyres, exhaust, brakes) then you are ok. If you really want, depending on age, you could maybe look at warrentydirect to cover anything major that doesn't come under wear and tear.

Mind, if you've had it a while and it has been reliable, plus you've looked after it, then I don't see why that shouldn't continue for a bit at least!

5t.

alx33277

Try moneybarn, if you've got fair, poor or bad credit, carfinance247 would use them (or Marsh / Advantage for low value loans) anyway so cut out the middleman..HTH.

alx33277

Try moneybarn, if you've got fair, poor or bad credit, carfinance247 would use them (or Marsh / Advantage for low value loans) anyway so cut out the middleman..HTH.