Guaranteed Car Finance - No Deposit

Welshpk

Hi

I know it's a bit of a misnomer about guaranteed car credit and I came a cropper last year with a company in Manchester (Long story)

Wondered if anyone has any recommends or stay away from - was looking at Fowler but I am told definitely stay away from them.

Please I would like to hear what you have to say

Thanks in anticipation

wgl2014

A generalisation but......

Anywhere that advertises they will give credit to anyone is likely to charge a hefty premium either via the loans APR or vehicle price.

If you have another option to avoid these kind of companies I would!

Welshpk

I realise that but at this moment in time I unfortunately have no choice

forgotmyname

You will end up buying a cheap worn out sub £2000 car and end up paying £10,000 for it.

There is usually an alternative.

Welshpk

I am sure your right I just can't think of one at the moment !

System

There's plenty of well usable cars with MOT on around £500 on your local Facebook stuff for sale pages. Yeah it'll be probably a decade old and may have well over 100,000 miles on but it'll keep you going and even if you end up spending more than it cost to buy repairing it over a year it'll still be cheaper than getting one on finance. Nobody can take it away from you because you won't have a loan secured on it and you don't have to worry about missing payments because money is tight one month.

forgotmyname

Take the cash in your pocket and buy something with that?

Plenty of alternatives.

forgotmyname

I only buy high mileage cars, over 120,000 miles. The best one in recent years had 149,000 miles on the clock. And it was a good car.

Previous one had 123,000 miles i ran it past 150,000, sold in 2009 and its still taxed and MOTd today with over 180,000 miles and that was a petrol car.

Welshpk

On the other hand if you have bailiffs chasing you if you own it yourself they can take it - if it's on finance they can't as I say it's a long story but basically I have been sick for nearly a year now (with no sick pay or benefits) wanting to get back to work but need a fairly decent car.

forgotmyname

You want a decent car, NOT a NEED.

With bailiff's after you, will the only finance your going to get be crippling interest rates and people that send the boys round rather than send letters??

Your posts appear to contradict yourself.

[Deleted User]

Welshpk wrote: »

On the other hand if you have bailiffs chasing you if you own it yourself they can take it - if it's on finance they can't as I say it's a long story but basically I have been sick for nearly a year now (with no sick pay or benefits) wanting to get back to work but need a fairly decent car.

Get a bike, walk or use the bus. If you have no income you won't get finance anywhere.