Car Loan for Person with an iffy Rating

Jolt

Wowsers, I've got to admit I'm kind of having a poor first experience on here at the moment. I came on here asking a very specific question from a group of people that I thought might be more knowledgeable on the subject than me, and instead you seem to have used the background information I provided to give my post a bit of context to make a bunch of passive aggressive digs.

Her car engine light flashes constantly, and in wet or cold weather the car cuts out at low speeds. A week ago her car wouldn't start, she had to ring RAC to take her to the nearest garage where they performed £200's worth of work on it. She missed the days work because she couldn't make it while her car was having work done, and the day after she got it back the problem reoccured.

Plus, as her partner I'm concerned for her safety and hearing stories about her car having problems on the motorway while a truck is tailgating her and flashing for her to move out of the way is really making me anxious considering she spends about two hours a day driving on motorways.

We've got more than enough disposable income to be able to take on loan repayments, but it would take us at least 3 or 4 months to be able to afford a car, and it's highly unlikely her car would last that long.

I was hoping that someone could share experiences specifically on car finance companies that are willing to consider borrowers with less than perfect credit records, but wouldn't charge an APR close to 40%. Is there anyone here that has any information on this?

rdchick

Heya

My ex managed to get a car on finance for about £5K (just a little Corsa) a couple of months before he went on a DMP (Debt Management Plan) so it is possible... just need to ask I guess xxx

KingElvis

The fact that she has an iffy rating means you're lucky to be offered anything at all in the current market.

There used to be middle of the road lenders who catered for the less than perfect customer but they all went bust when said customers didn't bother paying them back.

Most lenders who deal in car finance wouldn't touch poor credit applicants with a barge pole. I know for a fact that Close, Northridge and Blackhorse would run away on fire screaming.

Sorry it's not better news from me.

DCFC79

Jolt wrote: »

Wowsers, I've got to admit I'm kind of having a poor first experience on here at the moment. I came on here asking a very specific question from a group of people that I thought might be more knowledgeable on the subject than me, and instead you seem to have used the background information I provided to give my post a bit of context to make a bunch of passive aggressive digs.

Oh please dont exaggerate, no 1 was aggresive.

How do you or her know the rating is iffy ? have you checked her credit file ?
Asked her own bank ?
How about you take out the loan for her ?

hopeless_case_2

some people on here are just plain awful and if they cannot answer the question asked should not bother posting
hope you get sorted

Poosmate

Hi Jolt. What car does your partner drive? She sounds very much like she's in the predicament I am in. I've just got 6 months road tax for mine as I'm sure I'll be lucky if it lasts that long.

I have almost an hours commute on the motorways each way too. I drive a Ka which is 14 years old. I paid £400 for it almost 2 years ago. I have to keep engine oil, brake fluid and a foot pump in the car because it's so crap! It has a 1.3 engine so its quite nippy and I'm more than capable of holding my own on the motorway. If she feels the car could let her down at any time she should only be driving on the inside lane so she can easily pull on to the hard shoulder if needs must. She needs to not feel quite so intimidated, she has as much right on the motorway as anyone else. As long as she sticks to the inside lane most vehicles are doing less than 60 in that lane anyway.

What is her car worth? I am saving up for a "newer" car but in the meantime I'll buy bangers. I buy with a year's MOT on them and put them through 1 MOT if I like the car (if I feel the car is worth it).

Could she sell her current car and buy a stop gap so you could save up for a "proper" one?

Regarding the A+B roads, to be honest, I steer clear of them. I actually feel safer on the motorway because I know if something happens there's the hard shoulder and if you can't get on the hard shoulder the road is pretty straight so you have some degree of visibility. My A+B road routes have very few stretches where I'd prefer to break down, they are unlit and bendy country roads and the thought of leaving a dark coloured car the wrong side of a bend would terrify me not only for my own safety but for other road users too.

Hope that helps some,

Poo