Car finance ...bad credit..need a car

Happydays3

Hello

I really need to get another car...but I get turned down because of my bad credit. I am a single parent carer for my disabled children. Neither get high mobility so we can't do it that way...does anyone know of any companies that could help? We just need a reliable car..thanks

[Deleted User]

What is the nature of your bad credit?

How much are you looking to borrow and what's your income?

How much do you have saved and how much do you put into savings each month?

Happydays3

I asked if anyone knew of any companies who could help not tell you how much I have in my bank and how much money I get so you could try and penalise me. I don't find your response helpful. If I had savings I would buy a car....:T

HampshireH

Thats seems a bit unfair.

Without knowing about your current situation people cant best advise on lenders whose criteria you may meet.

[Deleted User]

Happydays3 wrote: »

I asked if anyone knew of any companies who could help not tell you how much I have in my bank and how much money I get so you could try and penalise me. I don't find your response helpful. If I had savings I would buy a car....:T

Then you will simply need to randomly apply if you don't want advice on the best lender to approach.

Good luck.

DCFC79

Happydays3 wrote: »

I asked if anyone knew of any companies who could help not tell you how much I have in my bank and how much money I get so you could try and penalise me. I don't find your response helpful. If I had savings I would buy a car....:T

Then maybe we have an impasse unless you decide to provide the info.

I dont know of any companies who can help, as suggested all I can say is apply.

Are you getting the right benefits though ?

Nebulous2

It depends on the details of your circumstances. If you are repeatedly turned down for finance, then companies regard you as high risk. As a high risk borrower the rates are going to be high, probably paying more in interest than you pay back on the loan.

Unfortunately there aren’t going to be any obvious easy answers. Whether you’re able to pay a deposit, have a car to trade in, want to go garage or private will all be relevant.

Your proposed budget for the car will also be relevant. Do you intend spending £500, 2000 or 5000?

Then there is your own budget. £5000 at 49.9% over 3 years will cost you roughly £245 a month. Can you convince a lender you can afford that in addition to all your other living costs and the cost of insuring and running the car?

boo_star

Happydays3 wrote: »

I asked if anyone knew of any companies who could help not tell you how much I have in my bank and how much money I get so you could try and penalise me. I don't find your response helpful. If I had savings I would buy a car....:T

Someone tries to help you and you spit in their face.

Best of luck. I certainly won't be helping you with that attitude.

enthusiasticsaver

Unfortunately you will struggle unless you have some savings as that is the only alternative to reasonable cost finance especially for cars. Does it need replacing imminently or can you keep it going one more year and maybe save as much as possible and maybe look at a credit union loan? After all if you do not have any spare money to save how would you repay a loan?

BrassicWoman

Might sound odd but ask on freegle/freecycle. I've seen vehicles rarely given away there because they're worth a hundred as trade in, and not worth the hassle - old but decent runners

fwor

BrassicWoman wrote: »

Might sound odd but ask on freegle/freecycle.

Neither Freegle nor Freecycle allow people to post a "Wanted" for a car.

That's because they both have the objective of keeping stuff out of landfill, and recycling facilities for genuinely dead cars are considered to be better than "DIY recycling" (which generally ends up with oil and brake fluid being spilled and aircon systems being illegally discharged).