5 year old missed payment will it affect my chances of car finance?

manda84b

As the title suggests...

I have a missed payment marker on my credit file which is due to be wiped in August 2015. I would have waited until my file was absolutely clear however circumstances be as they are I need a new car, and I kind of need one now rather than in August.

Does anyone know if this blemish affect me getting car finance? I don't want to apply for car finance and be rejected to then apply for a mortgage when my credit file is clear and be rejected due to a previous rejection.

Thanks

CKhalvashi

Would a £1000 bangernomicsmobile not make more sense?

Search the forum for 'Bangernomics' and you'll see what I mean, there are some brilliant deals on older stuff if you know where to look.

Would it not even be worth dipping into the mortgage deposit for this?

manda84b

I currently have a banger, which today has failed it's MOT. It's going to cost more than the car is worth to get it back on the road, which I begrudge having to pay on a car so old, which I plan on replacing soon.

I don't have enough in the savings to pull out for a car outright and to put down for a deposit, hence the car finance/lease.

Bonfire_Bride

A rejection would not be noted on your credit file. It would just show as a search.