Car Finance

Chorlton74

sorry if this is in the wrong place.

im looking at trying to buy a car at the end of April. is there anywhere out there that can help me on finance?

i've tried Carloans4u, but they knocked me back.

i had to bankrupt myself in april 2010 and was discharged a year later. been in the same job for 18 years, on the electoral roll, have %20 deposit to put down for a car, yet i can't find anybody to approve me. i've seen a car at Evans Halshaw, but would i be wasting my time asking for finance through them? i can clearly afford this vehicle.

i've just registered to have a look at my credit file and it shows 4 accounts still open, even though they were named in the bankruptcy. is this standard practice to keep them on file as `open` for 6 years?

any help greatly appreciated. thanks.

Rafter

You are very unlikely to get a sensible costing loan until the bankruptcy falls off your record in April 2016.

Your only option is to buy one outright for cash by saving up, or get a family member to buy the car and take out the credit with you making the payments to them.

Good luck

R.

Chorlton74

Cheers for the reply. id be pretty much wasting my time and everybody elses by showing up at Evans Halshaw then?

ah well.

SeanG79

It will depend on your individual circumstances.

With the bankruptcy so recent, you will need to be a home owner (if you are a tenant you are not going to be approved) and have had some form of credit for at least 6 months since the bankruptcy, like a sup-prime credit card which you are settling in full each month. You will also need to produce your latest 3 months bank statements and show affordability. Finally you will also need a decent deposit ±20-25% and be prepared to have the finance over a shorter term of around 3 years.

I am not sure if the Evans Halshaw dealer will have access to sufficient credit lines to be able to assist you if you manage to meet the criteria listed above.