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Close to completing and need new car

Har1ech
Har1ech Posts: 8 Forumite
in House buying, renting & selling
Hi all, I'm close to completing on my house purchase (not first time buyer). I have an excellent credit score. I need to buy a new car and worried it might mess things up if a credit check is run before I complete.

My mortgage is with nationwide, I have no other loans except student loan. I've always paid credit card off every month and not over overdrawn.

Thanks for any help or advice. :)
«1

Comments

  • glentoran99
    glentoran99 Posts: 5,825 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Debt-free and Proud!
    You don't have a credit score, but besides if you are close to completing just wait
  • Rain_Shadow
    Rain_Shadow Posts: 1,798 Forumite
    If you are rally close to completing and have to have a car you could rent one for the period.
    You can pick your friends and you can pick your nose but you can't pick your friend's nose.
  • shortcrust
    shortcrust Posts: 2,697 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker Newshound!
    edited 26 September 2016 at 8:37PM
    I think you'd be crazy not to wait. Lenders do sometimes run a final credit check before completion and lenders sometimes do change their mind at that point. I wouldn't worry about the extra search so much as the new credit account and monthly commitment that wasn't factored into the lender's affordability calculations.
  • marksoton
    marksoton Posts: 17,516 Forumite
    You don't NEED to buy a new car. You do need somewhere to live......
  • Miss_Samantha
    Miss_Samantha Posts: 1,197 Forumite
    marksoton wrote: »
    You don't NEED to buy a new car. You do need somewhere to live......

    And you don't need a loan to buy a car.
  • csgohan4
    csgohan4 Posts: 10,602 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    simples, live in your new house or live in a car? which would you prefer?
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • Bonfire_Bride
    Bonfire_Bride Posts: 713 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Don't do it!!!

    I think the responses here should have answered your question? :)
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
    10,000 Posts Fifth Anniversary Name Dropper Photogenic
    Har1ech wrote: »
    Hi all, I'm close to completing on my house purchase (not first time buyer). I have an excellent credit score. I need to buy a new car and worried it might mess things up if a credit check is run before I complete.

    My mortgage is with nationwide, I have no other loans except student loan. I've always paid credit card off every month and not over overdrawn.

    Thanks for any help or advice. :)

    Just another vote to say "no you dont"
  • Apodemus
    Apodemus Posts: 3,410 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Combo Breaker
    AnotherJoe wrote: »
    Just another vote to say "no you dont"

    And another! If your current car cannot limp on for a few more weeks, then cash purchase of something you can afford is the answer. Even after that, my vote would still be for cash purchase of something you can afford, but I appreciate that this is now a very old-fashioned view!
  • dirty_magic
    dirty_magic Posts: 1,145 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker I've been Money Tipped!
    The OP hasn't given enough detail for anyone to say they don't need a car. If the old one is written off or not able to be repaired and they can't get public transport to work then they do need a car.

    OP how far away is completion? I'd try to wait if I were you and hire one.
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