Anyone with Welcome Car Finance?

immoral_angeluk

james23_uk wrote: »

OK. All I know is what I put in my above post. If you PM me your name and address then I'll say you recommended me to them if I get a car through them. We should then both get £200, although it seems there'll probably some small print somewhere which means we don't qualify.

lol worth a shot... will pm you now.

Conor_3

james23_uk wrote: »

Ha ha. Yes, I've been warned about that - thanks. My situation is a little unusual and I don't have any other options.

Here's an option:

Stop being obsessed with having a new(ish) car and go buy a £500 banger to run around in for a while. You can get a damned good mid 90's Mondeo/Astra/Pug306 for £500.

chunky79

Conor wrote: »

Here's an option:

Stop being obsessed with having a new(ish) car and go buy a £500 banger to run around in for a while. You can get a damned good mid 90's Mondeo/Astra/Pug306 for £500.

I agree, we have a Suzuki Baleno paid 1k for it W reg immaculate condition full service history and 50k on clock when we bought it. We also have an R reg Diesel Escort estate immaculate condition 48k on clock new engine and paid £850. Took my friend with me to buy the escort who advised i buy and resell for 1200. I needed the car though lol.

Could this be an option for you.

mrsspendalot

We tried (pre-lightbulb moment) last year to get car finance and we were offered finance through welcome - at an APR of 48.9% ..... so we said no thanks!!!!!

We instead bought an M reg Mondeo for £375 in immaculate condition apart from a little crack in the back bumper, which has now been replaced with new as someone drove into the back of us and paid for a new one! It has its MOT in a week, and we feel sure it will fail, but then when I think about how much we would have paid this year to welcome had we gone through with the purchase it just makes me feel glad we didn't bother!

TTMCMschine

You'd have to be insane to buy anything on credit with those terms. Why not just buy an old banger as suggested for a few hundred quid &, if you're determined to get rid of your money, have a bonfire in the back garden with the other £5K - it'll save you a fortune.

james32_uk

As I said my position is a little complicated. Basically because I'm on an IVA I either have to use up my £200 per month car allowance from my work or lose it in my IVA.

So I might as well get a nice car costing me £200 per month.

I've been offered 10% interest rate from WCF but I dont know what that is as an APR.

CHR15

Sorry but this is crazy!!!!!!

It may be £200 per Month but have you really got £12,000 to give them for a £4,000 car???

I wish I had as much money as you!!

I am glad you can laugh at what you are considering entering into.

Seriously, get a cheap car!!!

TTMCMschine

No wonder he's on an IVA.

Why don't you look at leasing a cheap car, all repairs covered, etc, etc, etc.

newmum1

I wouldnt advise going with any finance car company unless its 0%for the term. I had a peugeot 106 on finance cash price £3,999 i gave a deposit for £1000 and it was over 3 years i thought no problem after 2 years i was fed up and got a loan to pay the finance company off so i could sell the car, my settlement figure was £2,500.01 which i paid and the most i could get for the car was £1500 and im still paying off the excess, so please think very carefully would it not be more practical to pay the £200 into the IVA once debt free buy a car ???

james32_uk

CHR15 wrote: »

Sorry but this is crazy!!!!!!

It may be £200 per Month but have you really got £12,000 to give them for a £4,000 car???

I wish I had as much money as you!!

I am glad you can laugh at what you are considering entering into.

Seriously, get a cheap car!!!

I'm not stupid enough to sign any agreement without fully understanding the total to be paid back.

Read my post more carefully. I either use the £200 per month or lose it.

Where have I laughed?

Why would I get a cheap car when it makes no difference to me financially what I spend up to £200 per month.