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| Welcome Car Finance | |
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| Topic Started: Oct 21 2006, 03:33 PM (91 Views) | |
| sllewellyn | Oct 21 2006, 03:33 PM Post #1 |
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I am looking for some advice about car finance. We have recently been turned down for finance on a second car with black horse (we bought one earlier this year and hane not missed a payment) We have recently remortgaged and paid of all our debts there is still a CCJ which although is paid will remain until next year. We have been turned down by other finance companies but approved by welcome with a 11.4apr rate. After reading your site I am having doubts any advice would be helpful. Many thanks. |
 
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| john | Oct 21 2006, 05:19 PM Post #2 |
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If you go to one of these companies you will be looking at paying anything around £200 - £250 per month for 4 years (anywhere between £10,000 and £12,000 for a car probably worth a third of that). I think most people here would agree that we should have saved the money for a month or so and bought a decent car for around £1000 - £1500, the car is yours from day 1. Most people got into a mess when their personal circumstances changed, it's ok paying £250 per month if you have plenty of money to waste but as soon as life throws a spanner in the works it could turn out to be the worst decision you could have made. I really would avoid these companies and I personally will never get car finance again. If you really do need a car urgently I would go to a local dealer and look for a cheap car and definitely do not take out PPI or any extended warranty (they very rarely pay out). The only insurance that came in handy for me in the past was the GAP which is relatively cheap in comparison. At least you have your eyes wide open and are aware of potential problems in the future, things might be going great now but who knows what's around the corner? John |
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6:15 PM Nov 28
