PCP Finance, Mortgage and Default...

lewocon

6 Months ago was declined for a PCP Deal (Tesla M3 28k).

5 Years ago, was not the most wise. Have a default + CCJ on Credit report (5 Years 6 Months old £299ccj £1500 default)

Since then, no missed payments, extremely low credit usage. 

I got my mortgage in April. It has just now showed on Credit Report. 

High earner: 80k.

While my score is still low, will the mortgage that is now appearing on my report help with acceptance?

Yes, I can wait for the adverse to drop off next year which is an option but, is there any chance of success if I apply now? Currently a good deal on the car I am looking at.

Sorry this is rambly! Appreciate any help. 

Herzlos

Having the mortgage will bring your affordability down I'd assume. 

You'd need to try and see. MSE advice would be to look for something cheaper than a £28k Tesla though. 

CliveOfIndia

As per the previous reply, the mortgage will have a negative impact on your chances of acceptance, simply due to the affordability calculations.

The CCJ is obviously another factor.  Albeit the effect will be diminished compared to when it was "new", it will still be taken into consideration by the lender.

But ultimately, if you can't afford the car without relying on credit to fund it, the best option is to buy a cheaper car using savings.  You could buy a very decent used car for half that amount or less.