Advice for low/average credit high earner

dombox

Hi all.

I'm pritty stuck so i throught i would post on here to see if i can get over this last hurdle.

My current financial circumstances arnt great i dont have the best credit score as i am only 25. I dont have any CCj's or anything as serious as that but i might have a couple of missed payments. I have really landed on my feet and i have started a new high earings job where my annual income with be 57340 before tax.

Its a field job so i need a new car, just tried to get one on 11500 worth of car finance and just been declined.

Desperate to get this car asap anyone have any ideaS?

Dom

OneLife_OneShot

Can you not get a car cheaper than £11,500? I bought a car in 2010 for £300 and it ran great until someone drove into me and wrote it off.

R_P_W

do you really need to spend £11,500 on a car?

Tixy

You might have a couple of missed payments?

You need to get copies of your credit files and see exactly what they show.
What existing credit agreements do you have?

Do you have any debts?

Are you on the electoral roll?

How recently did you start your new job?

If your credit history is such that you are unable to obtain a car on finance as it is a field job is your employer not prepared to offer a company car is lieu of some of your salary?

Do you have any car at the moment?

somethingcorporate

Can you not save for one month and buy something outright?

dombox

Thanks for all the quick responses. The car has to be decent as it has a strict criteria to match. Company car is not an option im afriad

Was on the electoral role at my previous address (been at my current add for 6-7months)

Start job 2nd of Jan 2013

Debts I have a 3 K student overdraft in my name no credit cards or loans.

Ive done all the calculations and finance is the way forward as i will get some of the money back when i sell the car in 3 years.

My only other options is to rent for 6months and save or get a lease. I dont particualry want to do either.

Tixy

So you are on not on the electoral roll at your current address then?

What income did you put on the application form?
Are you working currently in a different job and did you put that income down?

Starting a new job will make potential lenders consider you to be high risk. Also its a large debt to be saddling yourself with when you haven't started the job/got through the probationary period/ decided you enjoy the job yet.

6month rental might be the way to go - and during that time save up what you can so you can buy outright, or with a smaller loan after 6months.