availablecar.com and welcome car finance are they worth dealing with !!!

kurjam

i have a car with welcome car finance, and what a nightmare it has been.. this is our 3 rd car with them and everything as gone wrong...
so i looked at available car.com and they say they can take a car that still has credit left to pay on it and help you buy a new car...

as anyone had dealings with available car.com and has anyone taken a car to them that still has debt on it ??

would be interested to hear how people got on with the company.../

thank you

pnq06

I'm not much use to you I'm afraid as I don't drive but my MIL and FIL swear by available car- they get all their cars on finance and swap them probably once a year whilst still owing on the old car....
They can afford to pay for cars out right but choose to do it on finance for some reason or another but that in itself has to show that they are brill with prices etc. cos the MIL is tight :rolleyes:

iluvmylexus

welcome in subprime or semi subprime business, eg people with less than perfect history and their loan rates reflect this.
you may well be better off getting finance elsewhere if you can

Conor_3

Available car.com had WORSE interest rates than Welcome.

Depends on whether you like to pay double the windscreen price or not.

Personally, I'd swallow some pride and run around in an older car paid for in full.

anewman

Best approach is if you can't afford a car without credit, buy a cheap one. Plenty of decent cars under £1000 around. I cannot understand why people struggle with credit for cars when you can easily get a decent car for the price of the deposit/first installment.

Edit: (Conor beat me to it by 1 min lol)

kurjam

i have been with welcome before for many years and my apr is 15% for being such a good customer, but was thinking of getting a newer car and did not know wether to go back to welcome..

anewman

kurjam wrote: »

i have been with welcome before for many years and my apr is 15% for being such a good customer, but was thinking of getting a newer car and did not know wether to go back to welcome..

Sorry to say, hate to think how much money you have sent their way. 15% APR for £10,000 for JUST ONE YEAR is £1,500 in their pocket. Could have a new second hand low-end market car with 12 months MOT every year for that.

tomstickland

I've been with owning my own cars on the cheap for 10 years now and my APR is 0%.

kurjam

my car is no where near £10000 price

rob_harb

I don't mix the car and the finance i.e. I took out an unsecured personal loan with a bank, where I can get more competitive APRs (and punted in some savings of my own). However, since we have an offset account, we're actually paying a bit more interest on the mortgage, rather than the APR on the loan.

The great benefit is that the car and the loan are unrelated. If I have a windfall, I can pay off the loan early. If I need money, I can sell the car because the finance isn't secured against the car. As additional cover (and because I put in some of my own cash to buy the car), I also made sure that the car would always be worth more than the outstanding balance of the loan.