Anyone with Welcome Car Finance?

sammy115

Hi James

A couple of things occurred to me.

1. What you I lost your job (I think you have answered this before!)
2. What if your car was in an accident and written off. (Insurance co's will only give you market value for your car and not cost of any finance outstanding, leaving a massive shortfall you will have to make up)

Both these things have happened to me in the last 12 months.

Just a word of warning that you may wish to think about payment protection (stand alone policy) and gap insurance for any shortfall in finance payments.

rustybucket

James I know you think some on here have been rude to you, but I don't think you're taking heed of anyones advice, which is don't get a car with welcome.

You reply "They're obviously a !!!!!! company, but faced with a choice of getting a car from them for £200 a month or giving away my £200 for ABSOLUTELY NOTHING, I dont understand why anyone wouldnt go for the car".

At the end of the day I bet you ANY money you like that if you get a car with them you'll regret this. What if YOU decide to leave your job, you'll then left paying this loan from your own money.

The company you work for are giving you £200 for a car; what if they withdraw this offer? May not happen, but who knows whats round the next corner.

Plus how much more are you going to be taxed on having a £200 allowance?

Seriously, forget the £200, it's not your money, it's an extra allowance given by the company, don't use it. You have it in your head that its yours, however were you offered this as part of the job before you got it or has it been something that was made aware to you once employed by them?

It wouldn't suprise me if you got this money that you would end up getting a more expensive car meaning more than £200 a month going to them.

Buy an old car; I had to sell my car to try and pay back debts; I'm running around in a little S reg Ka at the mo and you know what? I love it and its cheap to run, and gets me A to B, which is all a car is for.

DramaQueen29

Sorry if this has already been said but with you having an IVA i thought you were not allowed to take out any more finance?