Deposit paid but unable to get finance

stafftopets

I need some help to make a decision of what to do for the best - DH has decided not to discuss the matter at all even though it is his mistake.
Yesterday, put a deposit on a second car so that i could use it for work. Paid a deposit of £399, car valued at £2899 however when checked our credit ratings they are both poor (tenants, DH has big loan). After further investigations i found it was virtually impossible to get a reasonable loan. So my question is, would you forget about the deposit and walk away or take a car loan at a real high interest and get the car.

Any advice would be great, as at the moment i am on my own and stressed out trying to make a decision.

Thanks
Staff xx

LandyAndy

The first thing I would do is ask the dealer very nicely if I could have my money back.

I might also look at cheaper vehicles at the same dealer.

And, lesson learned about checking your borrowing power before commiting

exarmydreamer

Did you pay deposit by card, you may be able to claim it back through your bank.

LandyAndy

exarmydreamer wrote: »

Did you pay deposit by card, you may be able to claim it back through your bank.

Really? I thought that was for when there was a problem with the purchase, not just because you changed your mind?

LandyAndy

LandyAndy wrote: »

The first thing I would do is ask the dealer very nicely if I could have my money back.

I might also look at cheaper vehicles at the same dealer.

And, lesson learned about checking your borrowing power before commiting

And if you are going to do this, do it as soon as possible today before the dealer spends time and effort prepping the car.