Bad credit car finance

civil12345

Hi,

I know nothing about car finance. It seems complicated. Is there any type of car finance that is easy to get with bad credit?

I'm thinking about this due to a potential change of job requires a fairly long commute and trying to assess my options.

theatretony

https://www.carfinance247.co.uk/

Give them a try and see what they say

Herzlos

civil12345 wrote: »

Hi,

I know nothing about car finance. It seems complicated. Is there any type of car finance that is easy to get with bad credit?

I'm thinking about this due to a potential change of job requires a fairly long commute and trying to assess my options.

You're almost certain to get access to a crap car at over market rates for a punitive monthly fee.

So you're usually better trying to just buy a banger, save up, and upgrade as you can.

LandyAndy

civil12345 wrote: »

. Is there any type of car finance that is easy to get with bad credit?
.

Yes. This sort

Herzlos wrote: »

You're almost certain to get access to a crap car at over market rates for a punitive monthly fee.
.

civil12345

OK thanks for the responses

motorguy

civil12345 wrote: »

Hi,

I know nothing about car finance. It seems complicated. Is there any type of car finance that is easy to get with bad credit?

I'm thinking about this due to a potential change of job requires a fairly long commute and trying to assess my options.

Buy a cheap, economical car for cash, otherwise as has been said, you'll end up paying way over the odds for a crap car at a high interest rate.

walwyn1978

Sub prime lenders tend to have much higher interest rates, punitive early payment/cancellation clauses and in some cases install electronic devices that discord the car if you stop paying your monthly,and add in a charge for installing/removing this.

+1 for Motorguys sensible advice above.

civil12345

Thanks again for the responses. I guess my main thought is that I'm not a car person. The only thing I'm looking for is reliability and I just worry about having problems with an old car.

tykesi

What about having problems with a new car? They're not reliable just because they're new(er).

Buy sensibly and an older car which has been looked after will be a much better bet than a newer car which has been neglected.

Condition and service history should be the top of your lists when looking at cars old or new.

AndyPix

Good advice given above - however i found myself in a similar circumstance recently.
I have a large commute to work and the banger i was driving finally gave up the ghost.
Didnt fancy another banger so looked at finance options


I have a few defaults from a few years ago and hence a bad credit file.


I was refused by carfinance247 but accepted by Zuto at a "quite high, but not as high as it could be" 24%APR


Hope that helps a bit and good luck

forgotmyname

Do you want to oay £7500 for a car thats probably not worth £3000?

My sister did. It put so much pressure on her finances that the car unused on the driveway for over a year because she couldnt afford a couple of minor repairs and pay the finance.

It sat there so long it went mouldy. She paid the final payment, phoned to confirm it was settled and then called the scrapman to take it away..

Buy a car with cash. You could pickup a cheap runabout for a few hundred £ which will last a few months whilst you save a bit more. If your lucky the car may last quite a while allowing you to save for something newer.

If you cannot afford to buy a car for a few hundred then you probably cannot afford a car.