Trust Deed Forum - Car Finance
Trust-Deed.co.uk
Home Home Page









Trust Deed Forum
Trust Deed Forum
Home | Profile | Register | Active Topics | Members | Search | FAQ
Username:
Password:
Save Password
Forgot your Password?

 All Forums
 Trust Deeds
 Scottish Trust Deed Forum
 Car Finance
 New Topic  Reply to Topic
Author Previous Topic Topic Next Topic  

boys1211
Advanced Contributor

145 Posts

Posted - 24 November 2014 :  17:48:06  Show Profile  Reply with Quote
Good evening
We started trust deeds July 2010, discharged January 14. Does anyone have advice re car finance ?? Is it possible , ideally would like to do the personal lease type deal.
Thanks in advance

TDA (Debt Adviser)
Trust Deed Expert



13542 Posts

Posted - 24 November 2014 :  18:01:50  Show Profile  Reply with Quote
Hi boys1211. How are you?

We've certainly heard of people getting car finance soon after discharge. Sometimes on pretty reasonable terms.

There are a couple of firms, Moneybarn is one for example, that might under controlled circumstances provide car finance prior to discharge. They also offer other products geared towards various levels of credit impairment. Some can be quite expensive looking however.

Probably best to try mainstream credit first though. Hopefully some people will have suggestions based upon their own experiences for you.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
Go to Top of Page

lizs
Frequent Contributor

27 Posts

Posted - 24 November 2014 :  19:15:27  Show Profile  Reply with Quote
Hi boys1211. My hubby was discharged in May 2014, and he just secured finance with First Response Finance. He also got accepted with Car Loans 4 U, but went with First Response as they were slightly cheaper per month and less paperwork to forward lol. Heard of both companies from another poster on here. Good luck .
Go to Top of Page

twizzle
Advanced Contributor

101 Posts

Posted - 24 November 2014 :  19:44:00  Show Profile  Reply with Quote
When we were looking for a newish car we bit the bullet and asked our own bank (Santander) savings growing and bills & mortgage paid on time.
Low and behold we were accepted. APR was excellent.

Coincidently was approved for a PCP Personal Car Lease last month, can I say which company on the forum?
My company has a choice off co car or car payment, chose car payment as you can choose which car.

I would advise asking your own bank 1st as you never know, their APR beats bad credit loans by a mile.

Good luck.

Completed 3yr TD Sept '12 discharged Sept '12. Trustee discharged Jan '13
Building up savings.

Edited by - twizzle on 24 November 2014 19:44:46
Go to Top of Page

boys1211
Advanced Contributor

145 Posts

Posted - 24 November 2014 :  22:06:43  Show Profile  Reply with Quote
Thanks so much for the advice guys x
Go to Top of Page

BLUETHUNDER
Regular Contributor

24 Posts

Posted - 24 November 2014 :  22:14:09  Show Profile  Reply with Quote
FORGET Moneybarn...the APR is a scandal... Try your bank or NATIONWIDE...
Go to Top of Page

David Tannock
Trust Deed Expert



2383 Posts

Posted - 25 November 2014 :  08:47:26  Show Profile  Reply with Quote
Hi boys1211,

Don't be afraid to fall into your local garage and speak with them about finance. Be honest with them about your situation and possible poor credit rating and ask them what they can do for you. They are salesman after all and will try to do what they can to make a sale. A lot more people than what you first think will have a poor credit rating so they should be used to dealing with clients in this situation. You may find that they are able to give you finance at a reasonable rate.

Make sure you do your homework, shop around and speak with a couple of organisations and look at how much you will pay back for the finance. Often people don't look at this, they only look at the monthly payment and think I can afford that. A case recently I was involved in the person wanted to purchase a 7,000 Vauxhall Astra but when I looked at the agreement they were paying back over 15,000. The cost for the finance was more than the car itself. All they focused on was how much the monthly payment was.

If you do find a car and finance let us know how you get on as it will be useful for other people on the forum.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed    
Go to Top of Page
  Previous Topic Topic Next Topic  
 New Topic  Reply to Topic
Jump To:
Trust Deed Forum © 2008 - 2020 www.trust-deed.co.uk Go To Top Of Page
Snitz Forums 2000

(c) Channel Active Limited. Company Number: 06412452. Data Protection Registration: Z1332750.
Telephone calls may be monitored or recorded. Authorised and regulated by the Financial Conduct Authority.
Trust-Deed.co.uk, Clyde Offices, 2nd Floor, 48 West George Street, Glasgow, G2 1BP. Tel: 0141 2490416.