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Advice please!
RobbieD1506
Posts: 42 Forumite
Hi everyone, I am desperately needing a new car but need some advice.
I previously was turned down 3 years ago as I had defaults on my account. As of sept they are paid and cleared after 6 years. I am in a full time stable job taking home £1900 a month. I have been in this job for 5 years. I am also on the electoral roll.
I have one credit card with nothing owing and I have paid the balance off in full the last two months. My only blemish is that I missed some payments four years ago. Since then I have paid the balance back and the account never defaulted so shows up as satisfactory on my experian report.
I applied for a loan for the car but got refused. Am just wondering how likely I would be to get car finance as I have heard this is easier to obtain. I would have about £2,000 to put down and would want to borrow about £7,000. Am I likely to be refused based on the late payments four years ago? Any advice/feedback would be much appreciated. Thanks!
I previously was turned down 3 years ago as I had defaults on my account. As of sept they are paid and cleared after 6 years. I am in a full time stable job taking home £1900 a month. I have been in this job for 5 years. I am also on the electoral roll.
I have one credit card with nothing owing and I have paid the balance off in full the last two months. My only blemish is that I missed some payments four years ago. Since then I have paid the balance back and the account never defaulted so shows up as satisfactory on my experian report.
I applied for a loan for the car but got refused. Am just wondering how likely I would be to get car finance as I have heard this is easier to obtain. I would have about £2,000 to put down and would want to borrow about £7,000. Am I likely to be refused based on the late payments four years ago? Any advice/feedback would be much appreciated. Thanks!
0
Comments
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Secured finance is easier to get than unsecured.
Even with those missed payments based on what you have put I'd think your probably have a fair chance of being accepted.A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0
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