Hi crdrysdale1.

It's probably worth trying one or two mainstream car finance providers. You never know your luck.

If that doesn't work there are higher cost subprime car finance providers. The firm mentioned at the following link actually offer finance during trust deeds (at a price and subject to trustee consent ):

Link Updated 2020: https://www.trust-deed.co.uk/repair-your-credit-rating.html

You might not need to clean up your credit file. You need to get a copy of it to see if there are any inaccuracies first.

Thanks t d a

Will trying a few dealers not go against my credit file with amount of searches done?

Will try applying on that website so see if any companies will accept

Thanks again

The more credit searches that get done in a short period of time the more some lenders might become wary about offering you credit. It could be a sign of fraud or desperation I suppose.

One or two searches isn't likely to be a massive issue I wouldn't have thought.

Some of our members might have some ideas for you based upon their own experiences...

Be honest about the trust deed as some dealers know how/who to go to, to get you credit!

Paul

Thanks guys

Any suggestions ie arnold clark, Evans Halshaw

Cheers

Hi Crdrysdale1,

Not sure if I just "got lucky" but I was discharged from my TD in Feb 2009 and our car needed replaced in July of that year and my wife was going to do the usual and do everything in her name but I thought I would give it a try just to see and applied online to my bank and was accepted straight away, shocked wasn't the word!

I also have a friend who recently completed his TD and has got finance from Arnold Clark (think he said it was with North Ridge/Bank of Ireland) but the car still belongs to them until he pays all payments.

Good luck.
Cheers

Cheers Hamish

Called arnold clark just now, they say they put my case thro to their Glasgow finance centre and it seems to be a `computer says no`case. Also when they search you it's 6 companies they try so will damage my credit file.

Spoke with a garage in falkirk that use a finance company that deal with ex trust deeders?? Seems to be confident I'll be accepted high Apr tho.

Just checked equifax, 3 credit providers on my file still show defaulted so not chuffed with that, busy on phone tomorrow

Cheers again

Just checked equifax, 3 credit providers on my file still show defaulted so not chuffed with that, busy on phone tomorrow

Not sure but that's maybe why you have been refused, id try and sort that out first if you can.

All the best

Also waiting on experian credit file coming in post, hoping same companies showing defaults.

Think it's just a case of calling or writing to them, including copy of my discharge, asking them to update their records, or hope it's that easy

Thanks again

Think you can check Experian online for a free 30 day period, hope you get it sorted.
Cheers

Cheers chum

Hi crdrysdale1,

I'm just off the phone with one of our clients who is still currently subject to their Trust Deed and has managed to secure finance for a used vehicle.

They told me that they managed to secure finance through a finance broker down south for a car worth £7,600. The will pay back a total of £15,307 meaning that the interest cost is £7,707 over a 4 year period.

Just be careful about paying attention to the particulars of the finance that you may be able to secure. The client I spoke with was just happy that they could buy a new car and felt that the payment per month was affordable for them but hadn't worked out how much they would pay back.

It seems it's still possible to get finance whilst in a Trust Deed for some people.

Thanks David

Think I will try to clean up my credit report first then try getting finance next month. Do want to get heavy monthly payments just after t d has finished

Thanks again

Hi crdrysdale
will you post how you get on and who you are successful with? I'm in the same boat but like you trying to get things cleared up a bit first. Would b great to know how you get on