Hello zdenzelx.

Well done on reaching the final stages of your protected trust deed.

There doesn't seem to be any particular rhyme or reason to what type of car finance you can get, assuming you can get it at all, in the aftermath of a trust deed.

We've had visitors get mainstream finance from main dealers and we've heard from people who have had to approach more expensive sub-prime car finance brokers.

I guess you'll only find out by making applications and awaiting the results I'm afraid, though hopefully some other posters will be able to suggest to you what has worked for them.

I'd suggest that a few weeks after your discharge you get hold of a copy of your credit report. If rebuilding your credit access is important to you you'll then want to go about getting your creditors to update any entries that are no longer correct or appropriate.

Well done on almost getting to the end of your trust deed xdenzelx. I don't really have much to add to what Trust Deed Assistant has said, other than just be careful not to make too many applications for credit all at the same time as they do leave a footprint on your credit file Which could have a further negative impact for you.

Hopefully others will have some ideas for you. Good luck and please do let us know if you are successful.

Hi TDA

Could you not sell a wee bit of advertising space on the site and have a few companies battle it out for providinf car finance for people in/just out of Trust Deeds:)

I think there was a couple of posts a while back with a company who provided finance, although from memory the APR was on the high side.

Mark

Places like moneybarn offer finance but the rates can be horrendous, reflecting a perceived risk for us bad bad people!

I shall be glad when may comes and I can investigate main stream lending once more.

Paul

Hi Paul

That was the one I was trying to remember. As you say, the rate is way above normal and it would be good if there was a bit of competition to get to a reasonable rate.

Mark

There are others but from experience and posts on iva forum moneybarn seem most likely to succeed. It is rather hit and miss unfortunately!

Paul

Moneybarn was the option we identified where someone can get the support of their trustee to get HP on a new vehicle during their protected trust deed.

I believe that the rates are typically lower once you're discharged from a trust deed, but they're by no means the types of rates you'd get from mainstream car finance sources.

More about it at:

(Link Removed 2020).

Hi all, just a wee update, waiting in a company called motor mart calling back, lets see what they say ?

Hi all, just a wee update, waiting in a company called motor mart calling back, lets see what they say ?

Hi xdenzelx

You've now got us on tenderhooks.

It will be interesting to see the rate as a comparison to the moneybarn rate.

Mark

Haha,
No they can't help until the trust deed is completed, iv to call back next month??

Hi, have you considered leasing rather than "buying", I'm thinking of going down this route once discharged later this year.

I looked at leasing. Wont post a link but lings if searched for brings up a rather wacky website for leasing. Decent prices too.

Paul

Hi Paul

I remember her, she was on Dragon's Den a while back and got 4 no's. Pretty mental looking website.

You would have thought leasing would have a far reduced risk as you never actually own the vehicle. It will be interesting however to see how flexible they are for people in trust deeds or who have finished them.

Mark