Financing a new car...just before getting a mortgage!

joshdosh25

Hi,


I am looking at my options for financing a new car. Unfortunately my old car has seen better days and is no longer reliable enough for work.


I have looked at the different options available too me, although I don't have enough cash savings to buy a new car outright I do have a fairly healthy deposit.


My concern is that I will also be looking for a mortgage within the next 6 - 12 months - so my question is this:


Which is a better option for me which will least affect my mortgage borrowing. I know that any amount borrowed will have some impact but; is one of my options going to impact me less that the other?


1. Credit Card Purchase
2. Personal Loan
3. Vehicle Finance / Personal Leasing


Any help greatly received,


Josh

DCFC79

How much would it cost to keep the car going ?

CKhalvashi

DCFC79 wrote: »

How much would it cost to keep the car going ?

And even then, would it not be worth ‘dipping’ into the deposit a bit for a new car, rather than borrowing? There isn’t plenty of decent stuff to be had for sub-£2k.

foxy-stoat

Wait until you have completed on your mortgage - then buy a cheaper car.