buying a car with a poor credit score

kirstyd4

Hoping that someone may have some advice for me.

Now that I am commuting for work I need a reliable car unlike the usual bangers I tend to purchase as runarounds.

I was hoping to use a personal loan of £9000 to contribute to the price of a nearly new car. However it took me by surprise that I have a poor credit score! Therefor the sainburies personal loan of 3.1% Apr that I was hoping shot up significantly.

Does anyone have any advice on the best approach I should take to buying a car with a poor credit score... baring in mind that I need a car ASAP as my current car is on its last legs...

Any help and advice would be much appreciated.

worried_jim

Easily get a good car for £1k.

sourcrates

Most older modern cars are quite reliable.

It's not like 20 odd years ago when a banger was a banger, most 10-15 year old cars are built to modern standards as regards engine and bodywork, and can still give good service, I have a ten year old Picasso which runs like a dream, costs next to nothing to run.

Lending money on a car is always a bad idea due to the running costs and depreciation involved.

kirstyd4

Thank you for the advice.

Even so, I just bought my first property which bled my savings dry... so even if I were to get a less expensive car I would still need to find the cash from somewhere.

parking_question_chap

How far is your commute?

Seriously, you could get a decent motor with years of trouble free driving ahead with about £3,000.

kirstyd4

50 odd miles a day and hours drive there and back.

kirstyd4

Thanks for replying.

I'm doing around 50 odd miles a day, around and hour each way.

skintpaul

as worried jim (#2) says.. get a cheaper car, put spare ££ into paying off debt / improving score..

worried_jim

Just get anything Japanese, a nice Honda Civic will do. Problem solved, loads around for 1-2£k.

DCFC79

Ignore your credit score, only you can see it.

kirstyd4

The problem is is that I don't have 1-2k so still need to borrow money. The bank were offering me a poor Apr. So looking to see if there are other options than a personal loan.