Faulty car returned - now finance company won't update our credit file

medion

Advice please:
Bought car on finance last month and garage have accepted that the car is too faulty and they will take it back and clear finance. They have done this but now the finance company say they cannot update my records to this effect for c4weeks and until then i cannot take further finance elsewhere? Is there anything else i can do as this has left me without a car.

Thanks for any help!!

anewman

You could get a car at the bottom of the market (£1000 or less) and pay in full straight up. If your finances are that troublesome that one thing on your credit file prevents you getting further credit, it might be a good idea to be at the bargain bottom end of motoring rather than burdened with yet another loan. Why get credit when you don't need to? People usually have no choice when it comes to buying a house - but there is a choice when cars are available so cheaply.

As you have already found out, spending more money on a second hand car doesn't ensure perfection and protection from brakedown or problems.

Anyway this is only my thoughts and suggestion.

I suppose you might be able to contact the finance company to tell them this is causing significant hardship, in that you're unable to purchase another car, but my guess is they'd only take any action if they were going to be the company providing the finance for your next purchase. I agree the 4 week thing is wrong but not sure what can be done about it.