Car Hire Purchase with poor credit - advice please

CKhalvashi

CLAPTON wrote: »

you owe 17,500 and want to borrow another 8,000 making debts of 25,500?

use the 1,000 to buy a cheap car

Seconded. I know it's a second car, but nothing wrong with my sub-£1000 Focus.

Foxy-Stoat_3

OP, if your aim is to take out a joint mortgage next year, the last thing you should be doing this year is increasing your household debt by another £7-8K.

Also, in July 2014 you stated the house value was £132K, but the on this thread you say the mortgage has £56K left, and you have a £15K deposit, making the house value £71K.....has house prices dropped that much in your area?

Puddylove

I'm always amazed that people spend so much relative to their income on cars; I will earn around £50k this year, with debts of around £9k, and drive a Pug with 145k miles on the clock.

And I'm going to keep driving it, while I save £200 per month for the day when it gives up the ghost. (£2k so far).

ETA My debts are in 0% so makes sense this way.