Do you think they will give me a car loan.

dontlikemondays

I am looking to buy a new car on 0% finance as I have £10k for a deposit with monthly payments of £280 pm

I have previous bad debts but they will be paid off soon, same time, and I will easily be able to afford new car payment.

But do you think they will give me the credit because of the bad record.
Not CCJ's but late payments and 1 default.

I ask here to save my embarrassment in dealership!

sammynick1234

From personal experience I'd say no - although with a 10k deposit how much is the car you're after? They might offer you something but I doubt it would be on 0% finance.


Just a thought but why not buy something a year or two old for the 10k?

[Deleted User]

sammynick1234 wrote: »

Just a thought but why not buy something a year or two old for the 10k?

You can get new cars for less than £10K.

sammynick1234

Bedsit_Bob wrote: »

You can get new cars for less than £10K.

Indeed, but you lose most of that driving it off the forecourt.

[Deleted User]

sammynick1234 wrote: »

Indeed, but you lose most of that driving it off the forecourt.

That applies to most cars, which aren't luxury/super-cars.

bigadaj

sammynick1234 wrote: »

Indeed, but you lose most of that driving it off the forecourt.

And potentially lose even more by taking teh dealer finance.

chanz4

20k cars loose abotu 5k right away

Thrugelmir

You are unlikely to get further finance with adverse credit history.

Apples2

dontlikemondays wrote: »

and I will easily be able to afford new car payment

must be one of the most cringe worthy statements we read on here.

You have late payments and a default, this will force you to the ridiculous Apr lenders.

This whole idea of financing a car with your credit history when you have £10k in cash is simply lunacy.

What on earth is so embarrassing for you that you won't spend a paltry £10k on a car?

dontlikemondays

Apples2 wrote: »

must be one of the most cringe worthy statements we read on here.

You have late payments and a default, this will force you to the ridiculous Apr lenders.

This whole idea of financing a car with your credit history when you have £10k in cash is simply lunacy.

What on earth is so embarrassing for you that you won't spend a paltry £10k on a car?

Alright, clam down, your gonna have a coronary (who said hopefully?)
My credit history is minor compared to some, probably even you. Blips happen you know.

Get off your high horse. You spend most of your time posting on here, so you can hardly claim to be "living the life " can you?

Herzlos

You can certainly ask, and get a better answer than you will on here. But with the bad credit it may be expensive.

Being MSE and wary of debt; I'd question why you don't use some of that £10k deposit to pay off what's left of the outstanding debt and then buy a car with what's left and pay your £280/month into a savings account for repairs and upgrades. £10k gives you a huge amount of scope for car choices (new superminis to older luxury cars).