Car loan, crap credit.

poppasmurf_bewdley

Basically, she isn't going to get a loan.

She really needs to re-evaluated her life and consider moving to a more suitable place where she càn catch a bus. She currently wants a life style she can't afford.

glvr

poppasmurf_bewdley wrote: »

Basically, she isn't going to get a loan.

She really needs to re-evaluated her life and consider moving to a more suitable place where she càn catch a bus. She currently wants a life style she can't afford.

No, she's working to build a lifestyle she can afford.

andyfromotley

How does the kid get to school now?

glvr

andyfromotley wrote: »

How does the kid get to school now?

In a car we bought, and on which we recently spent available money repairing but which has now developed faults which make it unaffordable to repair and beyond what it's worth anyway.

And, to others who've taken a dim view of her debts... she's always acted honourably and in good faith - but has had the misfortune to become collateral damage following my failed business.

Gaz83

She's not getting a loan. That's for sure.

Time to start hunting the bargain section of Auto Trader and Gumtree. Plenty of cars for under £500.

Gaz83

Incidentally...

glvr wrote: »

Salary currently zero, but just about to return to work... single mum so will likely be low earnings - maybe £500 net monthly.

Why most likely low earnings of £500 net? Can she look for a job with more hours?

CKhalvashi

Gaz83 wrote: »

Incidentally...


Why most likely low earnings of £500 net? Can she look for a job with more hours?

The issue of this is not being able to find more work without a car, and needing a car to find more work, which can be a horrible cycle to be in.

Apex Rental is the one that comes to mind for me if she can find more hours too. They're not the cheapest, but they're flexible for few months, and payment number 3/4 (when she has been in the job a few months) can buy a bangernomicsmobile, which won't be needed for the rental as she'd have handed the car back.

We have about 30 Apex cars within our company at the moment, and they've not tried to rip us off in the 5/6 years we've been using them.

forgotmyname

Probably going to be much cheaper to fix the car you have now.

£400 surplus earning £500?

What will he creditors think when they check her file to see whilst she cannot pay them she has taken out a new loan.

glvr

CKhalvashi wrote: »

The issue of this is not being able to find more work without a car, and needing a car to find more work, which can be a horrible cycle to be in.

Thank you - for your understanding and kind advice.

And also for the Apex tip.

CHR15

Flawed logic to state the current car is unaffordable to repair yet claim a new car is all of a sudden affordable.
The value of the overall car is of no consequence, so long as it works, so it comes across as a simple preference of having a new one.

Fix it or get a £400 banger, then work on not seeing credit as a good thing.

In the history os MSE, not one "poor credit looking for a car loan" post has anyone NOT lived at the end of a long muddy dirt track many miles from public transport. Makes the genuines ones less creditable.