Car Finance from a Dealer

RichGold

vindicated wrote: »

100 quid here, 500 quid there on repairs etc - mot's each year and so forth.

They are just normal everyday running costs. Why not give us an example of what car you're looking at, how much it is and how much the finance is, then I can put in context for you. There is no guarantee that a new car wont go wrong, and you'll still be liable for repair costs. And tyres.

vindicated

I understand that there is no guarantee a new car wont go wrong and also understand the normal everyday running costs, however a new car isnt going to have its exhaust drop off due to rust or what not (extreme example i know)

Right now myself and my partner work at the same place, its £95 per month each for a bus pass, set to go up again in a month or so to around £110, bugs me as i'd be happy to use the bus, we're all encouraged to use public transport but prices are rocketing...its more expensive for the train so thats a no!

Also, the bus times are a pain - its either get the earlier bus and wait an hour for work to open, or get to work with a few minutes to spare! I guess i cant really moan about that as it happens.

So at the moment its £190 per month to get the bus, due to go up to £220. Having a car would mean it can be used not only for work but for travel to visit relatives, shopping and so forth. So it would be added flexibility and freedom instead of specific timetables to work, for shopping etc! Insurance per month would be around £50 however i would probably pay it in full, there are free insurance offers, peugeot has one. Two years no claims is required.

Redundancy at lower levels in a big company is not as widespread as management cuts and such, although it can happen...its normally the last place cuts are made.

My biggest concern is buying an older car and having numerous repairs and replacements required and end up losing money rather than saving it; I'm also terrified of buying privately through a bad experience!

Vauxhall also offer finance which means the car is yours at the end, i think the cheapest was around £140 for a Corsa but price depends on the term.

Has anyone got experience of obtaining finance on a car post bankruptcy?

HappyMJ

vindicated wrote: »

Vauxhall also offer finance which means the car is yours at the end, i think the cheapest was around £140 for a Corsa but price depends on the term.

Has anyone got experience of obtaining finance on a car post bankruptcy?

5 years of payments (60) £142.50 zero interest £2,325 deposit....

It's possible. I'd go for a cheaper new car like the Picanto though....

vindicated

Thanks - Yep thats the one from Vauxhall!

Yeah I'm looking for cheaper alternatives...couldnt see the Picanto deal though, you have a link by any chance?

GolfBravo

One of the biggest costs of owning a car is depreciation.

So the challenge is to buy the least depreciating new car (eg. VW), or the most depreciated used car (eg. Kia, Renault, Citroen, etc.).

vindicated

GolfBravo wrote: »

One of the biggest costs of owning a car is depreciation.

So the challenge is to buy the least depreciating new car (eg. VW), or the most depreciated used car (eg. Kia, Renault, Citroen, etc.).

Yeah i thought of that...and was considering a VW for that purpose!

Options are fully open just have to make a decision!

vindicated

Ok, another question.

I applied, was declined - apparently the adviser said fiat are very strict but anyway that doesnt bother me, i know where i stand now.

However, I had one issue - the guy filled out the form on his computer, asked for the usual stuff etc...but he never asked for my salary details!? Now correct me if im wrong, but isnt that one of the main things that would be required to help assess the customers affordability of the finance including credit report details?

I queried it with him and he just said, no they dont need it...dont know why! But in all my time, ive NEVER seen a credit application not ask you for either your net monthly wage or gross annual salary?

Can anyone clarify?! Im a little confused as per my points, i know the decline probably would have happened anyway because my BR still shows for another couple of years but im assuming the input of no salary also didnt help!

So now i basically have a credit search on my file for nothing, assuming the adviser made a mistake!

Any advice would be great.

rs65

vindicated wrote: »

I queried it with him and he just said, no they dont need it...dont know why! But in all my time, ive NEVER seen a credit application not ask you for either your net monthly wage or gross annual salary?

I've just signed for a PCP deal on my new car and income wasn't mentioned.