We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Chance of car finance with satisfied default?

Archer0710
Archer0710 Posts: 239 Forumite
I am just wondering what the chances are of me being accepted for car finance, with a £200 satisfied default to Next.

Long story short, not paying Next was an oversight. As soon as I became aware I satisfied the payment. Default date was 2010.

Other than that I have an income of £22k a year and with my employer for the last 11years.

I have a regularly paid Lloyds c/card no payments missed in the 4 years I have had it. Credit limit £1500 balance is less than £500.

Less than a year left on a Lloyds loan so less than £4k at 7.9%.

My current car is in my Husbands name, this is the only negative on my file and my only debts. I use my car for work so whilst it doesn't need replacing yet it will do in the near future.

Just wondering.
Can I ever learn this budgeting lark? So far it's not looking promising
Lloyds loan - gone forever! :T
Bank of Mum and Dad gone forever!
Emergency Fund £1500 :T

Comments

  • BugsyBrowne
    BugsyBrowne Posts: 5,697 Forumite
    edited 23 July 2012 at 6:09PM
    Although car Finance is secured against the car it still requires an half decent credit file.
    It could obviously go either way 1 being you've paid everything up to date since your default or 2. You've proved in the past that you struggled with a debt being that default.
    Most car finance firms use the likes of lloyds,Santander or Carlyle finance now motonovo finance or close finance.
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 348.3K Banking & Borrowing
  • 252.1K Reduce Debt & Boost Income
  • 452.4K Spending & Discounts
  • 240.8K Work, Benefits & Business
  • 617.1K Mortgages, Homes & Bills
  • 175.6K Life & Family
  • 254K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.