HELP car finance rejected

pvt

Which? magazine did a survey recently on how long it takes for a smokey diesel to pay for itself. You'll only start to break even if your partner's at colleage on the moon.

ScottF_2

pvt wrote: »

Which? magazine did a survey recently on how long it takes for a smokey diesel to pay for itself. You'll only start to break even if your partner's at colleage on the moon.

Haha!! Ok so enough of the lets put down diesels and what can i do next.

Im thinking of getting a capital one CC and pay back good to build up my CR

Johnmcl7

ScottF wrote: »

Yes from thurlow nunn vauxhall

I'm sure someone posted a very similar topic here recently about being rejected for a five year 0% deal on a Vauxhall Corsa which they were surprised at as their credit history was good and commitments very low. I think the outcome was that the deal is to get people to come in the door and try out a car but in reality very few people would actually get the 0% deal but the dealer would hope to get them on a not so good finance deal.

John

MentalMinnie

I do agree with people saying that buying brand new is a complete waste of time. My dad always told me they lose a third of the value the minute you drive it off the forecourt.

It's always stuck with me. We're buying a car after Xmas, probably a BMW 3 series estate. Buying second hand, 2-3 years old. Still gonna be a great car though, and it will come with a warranty, so *if* anything goes wrong, we'll be covered.

You relally need to push as hard as possible to clear thouse old debts though.

eschaton

ScottF wrote: »

I agree,ive just never had anything new before except pants so i fancied it.i am a good saver because ive cleared. 3k worth of loan in just over a year! I now accept i wont get a 16k car on a finance im thinking of trying for a small loan say 3-5k i jist want loads of advice

You are not a good saver, you are not even a saver of you are paying back debt.

When I was 25 I had just bought my first house and because of this bought my latest car costing just over £10k without a loan. That was 12 years ago. I wasn't throwing £16k at a Corsa 1.2 diesel of all things.

Save up and buy something you can afford is my advice.

meer53

16k for a Corsa ?!?!

eschaton

meer53 wrote: »

16k for a Corsa ?!?!

No, £16k for a Corsa 1.2 Diseasel

chanz4

You are aware that their is a new corsa again coming out? When released it will go right down in value like the corsa c did.

Mara69

ScottF wrote: »

I get paid weekly from a oil job i earn about £450 a week after tax!!

So why are you only paying...

ScottF wrote: »

Btw im paying back £50 each week to clear each debt everyweek without fail

My advice:

Throw as much money as you can at these debts. Far, far more than £50 a week.

Once they are cleared start saving hard.

Consider a credit card ONLY to build your credit rating. It is essential that you use it often and pay it off in full each month. If you let the credit limit build and then only make minimum payments you'll have problems as the APR can be high. Some people (and I am not suggesting you are one of them) are simply crap with money and cannot be trusted. Know what sort of person you are when it comes to money management.

Avoid pay day loans like the plague as they do show on your credit file.

Save.

Save.

Save.

Buy a decent second hand car when you can afford it.

Pat yourself on the back and congratulate yourself on successfully avoiding being saddled with enormous debt for a poxy car.