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Topic starter
02/05/2016 4:27 pm
Hi,
I was testing the water to see if my Credit file had improved enough to get credit for a new car. My Trust deed had been completed for 18months now. Therefore I contacted Arnold Clark and spoke to the salesman giving him my honest previous credit problems. (Don't tell fibs as it will work against you! they aren't silly.)
Rather than the traditional Arnold Clark credit search, (as it searches a Minimum four searches against your credit file,) he sensibly told me to contact Carfinance247.co.uk.
Even though i was looking for £18k for a new car, they said they were willing to offer me £16k. Sadly the APR was too rich for my liking and politely declined, as im trying to keep the sensible head when deciding these things nowadays. However it was nice to know I'm starting to get credit again if required, albeit in this case just a little too high, so ill look again in a years time, although, if you are desperate for a car, its worth a look.
Basically if you find a car you want, put the information into the online application form of the car you have seen, once credit accepted, they pay the garage direct and you drive away happy. In principle a good solution for poor credit - just be sensible!
03/05/2016 9:58 am
hi rickie,
I was also in position of trying to finance a new car as trust deed meant I had to keep the old one which was costing more each month to fix than buying new, I went down the route of Amigo loans which I a guarantor loan, my friend offered to go guarantor for me and I'm almost halfway through paying it off already and only took it out in January so interest has been very low, partly this is because my available funds turned out to be less than my friends so didn't get the initial amount I wanted as they bae the loan on guarantors excess income.
not ideal for everyone but a great way to start and I kept my price in a much more affordable region of 6k to start with
Topic starter
03/05/2016 3:34 pm
Hi Michelle,
Thanks for the input. Information from people who have either successfully taken out loans either with a car or home improvement loans so quickly after completing their Trust Deed may want to share their deals and with which companies as it may save loads or wasted credit searches. Its obviously better if people have a better idea who may lend to people with poor credit.
Even though i have some equity on my home at the moment, I'm desperate to get a home improvement loan for some serious work, however to ask my current mortgage lender is scaring me to death. Has anyone any info on a home improvement loan soon after completing their Trust deed? I would rather find out some facts before approaching them.
Thx
