New car with poor credit

tfc_chris

Hi, I have a poor credit rating (over 500 on last inspection) due to not being able to make payments while out of work a few years back but am secure now. I want to get a new car from Vauxhall (worth about £9000), is it worth me even trying or am I likely to be turned down? Or will they secure the loan on the car itself? Any advice from anybody who has similar experience would be appreciated. Thanks.

You-kip

tfc_chris wrote: »

Hi, I have a poor credit rating (over 500 on last inspection) due to not being able to make payments while out of work a few years back but am secure now. I want to get a new car from Vauxhall (worth about £9000), is it worth me even trying or am I likely to be turned down? Or will they secure the loan on the car itself? Any advice from anybody who has similar experience would be appreciated. Thanks.

Well this was discussed the other day and apparently forum users seem to think that having a poor credit history is not a negative nor will missing payments or paying late or if you just couldn't be bothered to pay your debts back as long as the affordability worded out correct.

So going by users on here you just turn up and drive your new car home.

poppasmurf_bewdley

You-kip wrote: »

Well this was discussed the other day and apparently forum users seem to think that having a poor credit history is not a negative nor will missing payments or paying late or if you just couldn't be bothered to pay your debts back as long as the affordability worded out correct.

So going by users on here you just turn up and drive your new car home.

Probably one of the most rubbish replies I have seen on this forum.

You-kip

poppasmurf_bewdley wrote: »

Probably one of the most rubbish replies I have seen on this forum.

Cheers much appreciated and you are?

michael1983l

Lots of car loans are secured against the car so it means that they will give you the loan providing a substancial deposit has been placed on the Vehicle but you will get a very high interest rate and might have to approach people like carcraft as people like Santander who lots of dealers car finance will likely not touch you.

If you can afford to pay a monthly payment then whay can you not afford to save for a car and just buy an old bangor to drive whilst you do?

michael1983l

You-kip wrote: »

Cheers much appreciated and you are?

His forum name is poppasmurf_bewdley its at the top of the quote box you just quoted.

Glad to be of service.

You-kip

michael1983l wrote: »

His forum name is poppasmurf_bewdley its at the top of the quote box you just quoted.

Glad to be of service.

His?? With a smurf username you sure?

michael1983l

You-kip wrote: »

His?? With a smurf username you sure?

poppa smurf. I'd take a wild stab in the dark, yes.

You-kip

michael1983l wrote: »

poppa smurf. I'd take a wild stab in the dark, yes.

Oh well each to their own I hate smurfs.

CLAPTON

tfc_chris wrote: »

Hi, I have a poor credit rating (over 500 on last inspection) due to not being able to make payments while out of work a few years back but am secure now. I want to get a new car from Vauxhall (worth about £9000), is it worth me even trying or am I likely to be turned down? Or will they secure the loan on the car itself? Any advice from anybody who has similar experience would be appreciated. Thanks.

you haven't said what your income and general circumstances are but you may get an expensive HP loan as this secured on the car.

Peelerfart

You-kip wrote: »

Well this was discussed the other day and apparently forum users seem to think that having a poor credit history is not a negative nor will missing payments or paying late or if you just couldn't be bothered to pay your debts back as long as the affordability worded out correct.

So going by users on here you just turn up and drive your new car home.

Don't remember that one you kip, might have missed it though,where is it?