Get Me Car Finance - Advice

SeanG79

Even with a bad credit history or deals that Close MF may turn down, there are sub-prime lenders that are prepared to offer finance on a car/van but WILL want a larger deposit in order to make themselves asset secure and will charge a premium on the finance. There is however no upfront charge required prior to approval.

roxyk2210

i did the same as this i applied as i have now repaired my credit file but still awaiting for it to catch up clean. i also got told to pay £25 up front which set alarm bells too. i also though got an email which has completely baffled me, in fact it made me laugh...the email says they can guarantee finance because they put a box in the vehicle which acts as an engine immobilizer. one the direct debit is paid each month they send a code which you enter into the box. i never heard of anything so odd in my life....so we now have key meters for your car...what happens if your direct debit is delayed or something will your car not move? lol

poppasmurf_bewdley

roxyk2210 wrote: »

i did the same as this i applied as i have now repaired my credit file but still awaiting for it to catch up clean. i also got told to pay £25 up front which set alarm bells too. i also though got an email which has completely baffled me, in fact it made me laugh...the email says they can guarantee finance because they put a box in the vehicle which acts as an engine immobilizer. one the direct debit is paid each month they send a code which you enter into the box. i never heard of anything so odd in my life....so we now have key meters for your car...what happens if your direct debit is delayed or something will your car not move? lol

That's right. No money, no drive. It's been discussed several times on the forum, and this type of scheme is operated by several companies.

It seems an eminently sensible system to me, considering the types of people who we have seen or heard about who intend to make the first payment and then disappear with the car.

forgotmyname

Exactly. If you miss a payment they disable the car. So you cannot use it.

I guess they take it back if you dont pay up.

potatochips

Hi there has anyone actually used this company. I can't find any reviews of them anywhere - good, bad or indifferent!!

DThomas23

Hi,
I have friends who have used this type of Car Finance. I'm not sure it's directly with GetMeCarFinance though.
And surprisingly it works quite well for them.
Provided they receive the specified monthly payment as agreed, the code is sent via text. Again I'm not entirely sure how this is entered into the unit fitted to the car.
If there are any problems, then temporary emergency codes are issued to keep you moving.
As with all things in life, if you behave properly, this type of car purchase scheme will work for you, and should be relatively trouble free.
I'm certainly not one for giving people a hard time for the financial predicament they find themselves in. This is a creative method for keeping people mobile.
Hopefully this is helpful

alexc247

Take your £25 THEN tell you when you get the car loan (everyone accepted) that you will have to pay between 30%-40% for a car which if you have the money to do that then you can buy a car with it. DONT GO TO THESE PEOPLE.

philfy79

so, nobody has really answered the original question. has anyone used them and how does it work???

My initial thought is that the "guaranteed" offer will require a huge deposit which is clearly a waste of time as if you had £3000 you'd probably just go buy a £3000 car!! I know the interest rate will be scary compared to normal lenders but in theory the box idea offers them a little more security so I'm hoping they can offer closer to sensible terms.


Please no obnoxious comments from people with good credit (eg Apples2), I've just taken a job that requires a resonable car otherwise i'd be happy with my 2002 Saab. I have poor credit from my younger wilder days and I've been out of the UK for over 6 years so the only history in this country is a bad one.

SeanG79

Philfy79, there are plenty of other vehicle finance brokers who wont charge you any upfront fee...

If you were out the country for 6 years, then all the adverse from before that time should no longer show on your credit file.

Are you on the electoral role? Have you applied for an initial/credit builder credit card? If you haven't done either of these, get onto it ASAP.

In terms of guaranteed finance, the only companies that offer that type of facility, offer it on over priced cars, with big deposits and very high rates, often putting a payment immobiliser on the vehicle.

Asiacat

Can you get a moped or a scooter? Gets you everywhere a car can go at about 20% of the price.