Car finance credit checks

leodhas

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matttye

leodhas wrote: »

Does anyone have any opinions on this?

Sack off the finance and get a used car until you can afford to buy outright.

matttye

leodhas wrote: »

Affordability isn't really the issue. I've paid off pretty much all my debt, and will have paid it all off at the end of this month, and my earnings are twice what they were when I got into debt in the first place. When I was a student they pulled my £2000 overdraft out from under me after going over a couple of times, considered me to be £2000 in default on a now non-existent overdraft, and demanded the money back.

I dislike car finance immensely and wouldn't touch it with a bargepole.

If you buy a used car with that deposit, it's yours. Forever. You can sell it later if you like, but if you're not in debt, nobody can make you sell it.

If for some reason you lose your job and you've got a car on finance, you'll have to give the car back and find yourself stuffed.

Look on this forum; there are so many pleas from people who are having to give up their car because their circumstances have changed.

Affordability isn't a problem now, sure, but it might be down the line.

If you buy a used car for £2,500 and save up for the car you want, you probably won't end up paying much more (if any) and you'll have the security of having your own car in the meantime.