Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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I cant seem to get credit, as I havent got much of a history and ive had a few defaults, tried one place just now and waiting for them to get back to me but not holding hope! I do need a car on finance as ive just got my taxi badge and in desperate need of a car now, also doubt id get a loan for the amount I need £6kish. Anyone recommend a place where I might be able to get one?
Are Carcraft fussy about who they give it to? Ive just been on the site and they are expensive but the weekly payments arent that much.
[Edited on 22-02-2008 by JayM]
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Tom
Member
Registered: 3rd Apr 02
Location: Wirral, Merseyside
User status: Offline
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 Really wouldn't get into mate my mate did the same on a whim and he's still paying through the nose and the cars worth fuck all.
Can you not get a loan from family maybe?
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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The more you apply and the more you get refused, the more your credit rating will go down. It will get to a point when you need to stop.
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Toby
Premium Member
Registered: 29th Nov 05
User status: Offline
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my mate got a 106 zest on fiance paid 3k and its fuked cant be worth 1000 and he still owes 2k  on it just avoid it
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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Nah Tom I already owe me mum loads. The thing is its not a finance to treat myself its for a business so sort of justifying it, can get a 54 plate Vectra for £70 a week over 2 years from Carcraft. Works out over the odds at around £7k though, but need one sharpish. A settle car from the company is £340 a week 
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mantamark
Member
Registered: 19th Jun 06
Location: Northumberland
User status: Offline
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Finance is bad news, really high intrest rates, better off trying to get a decent rate loan.
get your credit score checked at experian or similar.
check out www.moneysavingexpert.co.uk for low rate loans & ideas to get money without loosing a kidney.
dont do what i did, get a loan, then another loan to pay that off, and a bit extra, then another to pay that off & a bit extra
i'm boned for 5 years now
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Wouldnt bother with finance, the intrest takes the piss!!
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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quote:
Originally posted by deano87
The more you apply and the more you get refused, the more your credit rating will go down. It will get to a point when you need to stop.
Yeh I know that, Have only applied at one place upto now, not going to go daft hence why I asked here if anyone knew places that MAY accept me.
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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Seems as everyone is saying dont get finance... what should I do?
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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Buy a cheap car cash - dont spend beyond your means! 
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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quote:
Originally posted by mantamark
get your credit score checked at experian or similar.
Ive had that checked it came back ok but still cant seem to get credit.
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Toby
Premium Member
Registered: 29th Nov 05
User status: Offline
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quote:
Originally posted by JayM
Seems as everyone is saying dont get finance... what should I do?
bettter option if you need to get a car is get a loan the payments are lot less than fiance and you can still get the same product
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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quote:
Originally posted by Colin
Buy a cheap car cash - dont spend beyond your means!
I dont have the cash to buy a car outright though, I bought an Escort for £800 to use and it turned out to not be very good, I cant exactly have an unreliable car when im depending on it, hence wanting something newer.
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GT190
Member
Registered: 6th Dec 07
Location: Greater London
User status: Offline
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yeh loan is best.
car finance intrest is something like 20% isnt it?
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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quote:
Originally posted by CorsaB4ever
quote:
Originally posted by JayM
Seems as everyone is saying dont get finance... what should I do?
bettter option if you need to get a car is get a loan the payments are lot less than fiance and you can still get the same product
Ive tried once and cant get one so havent applied again so I dont fuck up my rating even more! That was through my bank and they said try again in 6 months time, which is in around 2 months, might go in tomorrow and have a word see what they say. Just after possible options.
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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quote:
Originally posted by GT190
yeh loan is best.
car finance intrest is something like 20% isnt it?
Carcraft say 10.9%
I wouldnt get a good rate from a bank though so will be roughly about the same.
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Toby
Premium Member
Registered: 29th Nov 05
User status: Offline
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well if you cant get a loan howcome they will give you finance? i know seperate companies but still.... should all really work to a similar procedure when agreeing credit on your rating
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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Thats what I mean, there are companies that aren't fussy who they give finance out to, but usually silly high APR
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Toby
Premium Member
Registered: 29th Nov 05
User status: Offline
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just got to remeber with finance that your not only paying the intrest you get your depreciation aswel so you have twice as many costs as somebody else
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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quote:
Originally posted by JayM
quote:
Originally posted by GT190
yeh loan is best.
car finance intrest is something like 20% isnt it?
Carcraft say 10.9%
I wouldnt get a good rate from a bank though so will be roughly about the same.
That wont be APR!
Have you tried walking ointo the bank you get your wages paid into? They prob wont give you 6k but should be able to give you a couple £k's so long as your account is substainable?
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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Ah well, need a car anyway! Id rather get a loan myself dont get me wrong, going to speak to my bank tomorrow, see what they say.
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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quote:
Originally posted by Colin
quote:
Originally posted by JayM
quote:
Originally posted by GT190
yeh loan is best.
car finance intrest is something like 20% isnt it?
Carcraft say 10.9%
I wouldnt get a good rate from a bank though so will be roughly about the same.
That wont be APR!
Have you tried walking ointo the bank you get your wages paid into? They prob wont give you 6k but should be able to give you a couple £k's so long as your account is substainable?
Only just started getting my wages paid into a bank so they have no real knowledge of how much I get, I could live with a £2-£3k car to be honest. Just meant £6k seems to be the going rate for a finance car.
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Jay
Member
Registered: 26th Sep 04
Location: Liverpool
User status: Offline
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quote:
Originally posted by Colin
quote:
Originally posted by JayM
quote:
Originally posted by GT190
yeh loan is best.
car finance intrest is something like 20% isnt it?
Carcraft say 10.9%
I wouldnt get a good rate from a bank though so will be roughly about the same.
That wont be APR!
Dont know how it works but this is what they are saying on the car I was looking at.
Amount of Credit £4,500.00
Interest Payable £1,080.00
Total Amount Payable £5,580.00
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by GT190
yeh loan is best.
car finance intrest is something like 20% isnt it?
try 4.5% max. that's what i'm paying anyway with ford finance.
it's not a silly thing to do if you can handle the interest payments and are wise with your money.
i haven't had a problem so far?
[Edited on 21-02-2008 by Ben G]
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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Carcraft are well known for taking the mick.
Do you need something so new? So long as it'll pass the test you could perhaps get something cheaper? If only until you save up properly to buy something.
If you get something on finance particularly with your history I would imagine a fair portion of your earnings will just go to paying for having the means to earn. Don't be fooled by £70 per week looking low - its probably for 10 years.
They have you off, however it looks on paper. Don't be taken in.
What is the most you could raise with real money?
Just looking on the trader now - there are loads of suitable cars that would do the job for six months.
Kia Shuma 1999/T 58k years tax and ticket
Mitsubishi Carisma 1999/T
Toyota Avensis 1998/R
...all a grand
Nissan Primera 2001/Y
Peugeot 406 Estate 2001/Y
1200 quid.
Mondeos start from about 1500.
Not sure if you need to outlay thousands!
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