Poor credit car finance

bozzy4

I was looking to buy a new car last year but unfortunately I got made redundant at the beginning of year. I got 17 years redundancy payment but that had to get me though. I missed a few and late payments which has affected my credit rating badly. I then had to scrap my car as it had died on me and I am using my mum in laws car. I have got a new job and been there 4 months now and it's 24k pa but I need to give my mum in laws car back. Coz of the distance 40 miles round trip and the hours I do I need a new reliable car. I will need credit but trying to improve it so don't won't to apply for them to say no and it affects me further. Any help or advice would be brill as I need to do this in the next 2 weeks

bozzy4

Ps my job is on a temp contract for 2 years

DCFC79

Why is this is the music moneysaving part of the forum ?

Needs to be in the loans section.

Well for a start you could look into hiring a car.

Ronneh

This is a tough one, as there will be companies out there 'bad credit, no problem' etc - I would agree with the above poster; hire a car and use that time to save up for a deposit as a larger deposit could make the difference in getting a car long term. It may also be worth looking into leasing as it will be less credit than outright purchase.

CKhalvashi

Ronneh wrote: »

This is a tough one, as there will be companies out there 'bad credit, no problem' etc - I would agree with the above poster; hire a car and use that time to save up for a deposit as a larger deposit could make the difference in getting a car long term. It may also be worth looking into leasing as it will be less credit than outright purchase.

On top of leasing, there's the likes of Apex (we use them for temporary vehicles, no more expensive than leasing, brand new vehicle every 6 months) and there was a company advertising on Autotrader a Ford Focus for about £180 a month.

Neither of the above are credit options, but you'll need to insure both.

CK

alwaysonthego_2

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