Loan v Car Finance

lucy_w86

I am trying to weigh up whether to go for Finance or not.

When I had a reasonable credit history, I got offered a loan at 12.5%

I have been offered car finance through renault for 15%

Now with car finance, I can request a settlement figure and pay the rest off. Therefore, in a year or so, when I have a better credit history and am able to get a decent loan, I can then use this. Where as most loans, your tied in so it will be harder to get out.

jenni1188

Why do you need a 04 06 Clio so urgently? I am sticking with my 1993 K reg corsa until i can get my credit rating back on track. I have just paid it through its MOT so got a good year out of it yet! With the money your on over 2 months you could get a nice little run around until your credit rating is better, Your like i am I WANT MUST HAVE but i have decided rather than pay over the odds for a bad credit loan i will wait and build up my score, save as much money as possible and have a stash for repairs etc.

You seem so deperate but what the matter with driving an old car £400 1.2 Micra or something what a granny had but no longer can drive as these are the types which go cheap, low millage, full service etc and are clean and well maintained. In 6 months once you have paid off CC and built up Credit by playing take out put back with them, get a loan.

People on here will tell you not to get a loan ever, im not im just saying wait. You have a better chance of a loan than me as im under 21.

Hope this helps