Car finance

Jenna150386

Hello All,

Im looking for a bit of advice..

I was in a protected trust deed that has been complete and I have been discharged for almost 6 months now.

Since discharge I have had no debt what soever and pay my bills on time every month via direct debit.. ie. phone, gym membership and car insurance.

Im looking for a bit of advice really.

I have been saving and currently have around 1000 pound to put down for a car. (I could go and buy a second hand car for 1000 i do no. however I have been stung with a few cars and my current one is about ready to give up on me and due to the age and state i dont see the point in hammering in anymore money into it). so i was looking for advice on best place to go.

I called arnold clark and explained i had been discharged from a trustdeed and the likes and the sales man said that shouldnt be an issue they could get finance in place. does this sound right??

I dont wanna end up with marks against my already bad credit file for getting finance applications declined.

Also i seen on a few threads on here that personal leasing maybe easier to get than actually trying to buy??

any advice would be great.

May I add im 24 have no out goings at all minus digs i pay to my mother and i currently earn 21500 a year..

drbesty

£21k a year, no outgoings except rent, surely you could save up in no time

DCFC79

Maybe you have been stung for used cars because you dont have them checked over properly, i know of 2 people who have bought a used car of 10 years old and are both still going strong despite being old and alot of miles on the clock.

thegirlintheattic

I too went with Arnold Clark for car fiance. There was absolutely no questions about my credit history or income. Although obviously they ran a credit check.

I don't think you will have a problem - they want you to have fiance so will work their butt off to get you it.

Ignore people arguing with your choice of car. Buying any car is a flip of a coin you might buy a 10 year old car that lasts for week or a new one that breaks down within a month. Go with whatever you feel comfortable with. I bought an old banger before, listening to people who said you can get a decent car for under £2k. Checked the car out properly etc., no signs of the problems to come. I ended up spending about that on repairs over 2 years, the problems with the car were not major but led to me not trusting the car and on one occasion missing work due to it's problems. I went for a nearly new car as that's what I felt comfortable with and don't regret it for a minute plus it's under warranty so won't be spending lots if anything does go wrong.

Do haggle a lot with Arnold Clark, they don't like giving discounts but you can get quite a bit off if you do your homework first and keep going, we spend several hours there when I bought mine but got a great deal in the end.

drbesty

Buy a Japanese or German car and you can't go wrong, buy a French or Italian car and you're in for trouble. I certainly wouldn't spend £1000 on a car but if you save for a few months you could buy something decent without the need for finance

Jenna150386

I do know i could save for a car. however in this day in age its probs best to have saving in the bank.

I am looking at cars with monthly payments of around the 150 mark.. i am not running out to buy a brand new bmw 3 series.

I am believe it or not responsible I at the age of 24 have completed a 3 year trust deed paying back 221 a month for 2 years so i am used to the out goings.

I have had problems with cars in the past probs due to my own faults some things cant be helped.

I feel a new car is my best bet. i dont want to take on someone elses problem.

And save for a car is an option however I for once in my life would like to have saving and spare cash in my bank.

I was just asking others for advice on if i would have a good chance in there views of getting the credit.

BugsyBrowne

drbesty wrote: »

Buy a Japanese or German car and you can't go wrong, buy a French or Italian car and you're in for trouble. I certainly wouldn't spend £1000 on a car but if you save for a few months you could buy something decent without the need for finance

You certantly won't spend a grand on a car, I would hate to know how much you would spend on a bicycle.

drbesty

I mean you're not going to get much of a car for £1000

BugsyBrowne

drbesty wrote: »

Buy a Japanese or German car and you can't go wrong, buy a French or Italian car and you're in for trouble. I certainly wouldn't spend £1000 on a car but if you save for a few months you could buy something decent without the need for finance

drbesty wrote: »

I mean you're not going to get much of a car for £1000

Oh I thought you said you wouldn't spend a G on a car lol

SingleSue

DCFC79 wrote: »

Maybe you have been stung for used cars because you dont have them checked over properly, i know of 2 people who have bought a used car of 10 years old and are both still going strong despite being old and alot of miles on the clock.

My car is 18 years old, bought it for £461 from Ebay over 5 years ago...and so far, it has cost me far less to run and to get through an MOT than all bar one of my other cars!

My late father in law taught me well.....

chalkie99

Jenna150386 wrote: »

I am believe it or not responsible I at the age of 24 have completed a 3 year trust deed paying back 221 a month for 2 years so i am used to the out goings.

Oh! - The irony ....:D

OP - I suggest you do some searches on this site and elsewhere to see what a terrible reputation Arnold Clark have.

You will probably end up paying extortionate interest due to your credit history and be charged well over the odds dealer prices for a car which is no better than a £1,000 private purchase.

Dealers like this thrive on fast talking people with poor credit ratings into buying overpriced rubbish and the punters usually end up on this site wanting to know what they can do about it.