Loans for people with bad credit score.

Judy1967

I am looking to get a loan for a car as mine is on its last legs. Does anyone know the best loans for people with a poor credit score.

Ben8282

Your credit score is meaningless. What exactly is wrong with your credit history?

foxy-stoat

No such thing as a good loan for someone with bad credit history.

There will be bad loans for people with bad credit history.

Whats wrong with your credit history and what is wrong with your car?

DCFC79

Judy1967 wrote: »

I am looking to get a loan for a car as mine is on its last legs. Does anyone know the best loans for people with a poor credit score.

Who has told you its on its last legs ?

Hope a mechanic, maybe get a second opinion.

What would you do if you cant get the loan you require ?

poppasmurf_bewdley

Every few weeks, we get people coming on here asking for details of loans for people with bad credit.

The simple answer is that there aren't any.

There used to be, but the companies providing them found out to their cost that people with bad credit didn't pay their bills, and they went bust. Yes Car Credit and Welcome Finance to name but two!

Judy1967

Clutch is going and timing chain causing the car to sound like I’m in the wrong gear.

Judy1967

In the past I defaulted on credit cards due to my hours being drastically reduced at work. I’m good at paying bills on time now but obviously this is in my history for 6 years.

foxy-stoat

Maybe try and get a quote for a new clutch and timing chain - then apply for a loan to pay for the maintenance of your current car.

You really need to build up a savings pot if you want to run a car - as ALL cars will require some scheduled maintenance and the odd expensive repair.

MrSilver

Hey,

So you need to repair/service your vehicle and instead you thinking of making something that will cost you about (I'm not a mechanic but bear with me) £500-£700

And instead you are thinking to be in this scenario:
1. Get a loan that will most likely have 20%++ APR
2. A car that I'm thinking will be about £3000+
3. That car will most likely have unknown problems to you
4. You are now £3k in debt for a long time and you don't know what's the problem with the car you just bought.

If it was me, I would request a mechanic's opinion on what is the major problem that needs immediate attention and get a quote to fix that specific problem.
Now the question is wether you do have enough savings to cover that expense, I don't know your car or on what condition it is in, but a clutch and a timing chain will not cost you £1500 in service, unless you own an exotic car, that is.

I hope you find a good solution for your problem and that the repairs/service are not as expensive as my hypothetical values in this post.

MEM62

Judy1967 wrote: »

Clutch is going and timing chain causing the car to sound like I’m in the wrong gear.

Hardly a last legs scenario. Both are fixable for less than the cost of replacing the car.

Any replacement car will also be a higher risk as it may also have faults. At least your own car is a known entity.

Judy1967

How is my credit score meaningless, not sure how it works?