I have been offered a loan for £5800, and over four years i will be paying back over £12000! (Accept car credit)
Does anyone know of anywhere else?
2007-06-23 07:23:52 · 4 answers · asked by Jamie C 1 in Business & Finance ➔ Credit
Sorry, i mean approved car credit.
2007-06-23 07:24:20 · update #1
Welcome finance. My partner was bankrupt and they let him have one, but the finance rate will always be higher as your a higher risk.
2007-06-23 07:26:36 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You want a car, but can't afford 1500 without borrowing it? I bet you will also struggle to pay insurance, road-tax, breakdown-cover, servicing, minor repairs, parking fees and possibly parking-tickets/clamp-release fees, and consumables such as brake-pads and tyres, not to mention larger bills. Have you got an insurance quote yet? Do you know that rookie drivers on their first car are typically charged 3 to 4 grand, even for a VERY slow 1 litre town-car? And "being a student" doesn't give you bad credit-history - BAD-CREDIT HISTORY, is what makes you a BAD-CREDIT RISK!
2016-04-01 00:59:34 · answer #2 · answered by Anonymous · 0⤊ 0⤋
That's ridiculous. Maybe go to a financial advisor at your bank and ask about where is best or even citizens advice bureau who can advice you further and tell you all the information you need.
Do your research first. Bad credit history or not- not worth you paying more than 50% off than you borrowed in addition.
2007-06-23 08:23:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You are obviously a bad credit risk . Do yourself a favour ,get an older car in good condition,(there' s plenty about if you take the trouble to look ) and you won't finish up paying extortionate interest rates to a company who's only aim is to get you deeper in debt.
2007-06-23 07:33:42 · answer #4 · answered by brynner 2 · 0⤊ 0⤋
Sorry Emma but a poor credit history means no one will take any risks with you. EXCEPT if they are charging exhorbitant rates of interest.
You are seen as a BIG risk.
Now is the time to decide to save up instead of borrowing from those who charge such rates.
Now is the time to save up. I hope you take this advice but I suspect that telling you to save up is a bit like telling Americans that widespread gun ownership is a bad idea or telling an Alcoholic to give up drink.
Your posting is bound to attract responses from dodgy lenders or people pointing you towards dodgy lenders. Genuine lenders dont advertise on here. Ignore people saying " loads of scams exist but this lender s genuine" they ask for upfront fees, pay them money and you lose it!
2007-06-24 04:54:07 · answer #5 · answered by brian t 5 · 0⤊ 0⤋
if you have a bad credit history then do'nt compound it by borrowing more.Make do with a cheap second hand car you can pay cash for and learn to economise.I have a great little car for sale with a new mot,6 mths tax and only 50k on the clock,only £600 so they are out there and affordable.Am not trying to sell it to you,just showing an example.
2007-06-23 07:43:26 · answer #6 · answered by Anonymous · 0⤊ 1⤋
All the dealers in USA finance anyone especially those with bad credit as they can charge high interest and then when the poor can't pay, they impound the car and sell it again at high interest. Most dealers now say no credit refused.
2007-06-23 07:32:59 · answer #7 · answered by Anonymous · 0⤊ 0⤋
There is no point having a car loan as it comes under unsecured category and interest rates for unsecured lending are higher. If you are a homeowner contact me at info@mortgagereliefonline . co . uk and I might be able to help you with a very cost effective option.
I am an independent mortgage advisor by profession.
2007-06-26 05:47:29 · answer #8 · answered by Damien 1 · 0⤊ 0⤋
Pay cash.
If you havn't got the cash, wait untill you do have it.
Cut down on any unnecessary spending (like smoking).
If you can't save fast enough, sell anything that's less important to you than a new car.
2007-06-23 07:41:27 · answer #9 · answered by Steve B 7 · 0⤊ 0⤋
dont go to them. just dont. no way.
go to your bank.
£6000 is a lot for a car - cant you get finance with the car company? might be cheaper as secured on the actual car
2007-06-23 07:26:27 · answer #10 · answered by adamscottlucy 2 · 0⤊ 0⤋
just don't contact any of the scammers offering you loans in your answers section.
2007-06-23 07:55:46 · answer #11 · answered by Anonymous · 0⤊ 0⤋