Financing a car - post awful credit history

[Deleted User]

Okay, answering candyapple.
My annual salary is £42580

I haven't thought, nor made a decision on how much as I'm not 100%, I was just wondering how long.

I have no credit cards or outstanding balances, that includes debt, which I also don't have anymore, so no loans, ccjs, payday loans, cards, store cards, etc etc, nothing.

Not even a mobile phone on credit, pay as you go only.

I've made no applications either.

Answering - Thrugelmir
I'm not actually going to do it three weeks post settling, as I'm purely asking how long, as I'm expecting over 2 years.

[Deleted User]

Also worth me adding that I have a safety of £2500 savings now also.

kwame41

Your in a good financial position.

However, your are going to suffer when applying for credit until the defaults come off your report(s)

Youv'e done well to get to this point. I would wait and save for a car instead.

[Deleted User]

[Deleted User] wrote:

I have no credit cards or outstanding balances, that includes debt, which I also don't have anymore, so no loans, ccjs, payday loans, cards, store cards, etc etc, nothing.

Not even a mobile phone on credit, pay as you go only.

That's not good. You seem to have gone from bad credit management to no credit management.

If you want lenders to take you seriously, you need to start building some decent history.

[Deleted User]

Yes that's understandable, the defaults actually get removed in February 2019, which in turn is a massive thing also.

[Deleted User]

Of course, it was something I wanted to do to pay off my existing baddies.

Short term pain was long term gain, the most I'm going to get is a credit card.

And I'll probably only use that for fueling my works van, and pay it off immediately.