Welcome to the forum crdrysdale1.

Will it be affordable for you to pay the existing finance agreement as well as a new one as well?

Lenders are meant to check affordability, and of course you'll want to protect yourself in this respect as well.

Thanks tda

When my trust was set up I was advised my car would not be included as I needed a car to get to work to pay my trust etc etc

My thinking is if I have 3k still to pay (152 per month) see a newish car for 7k my existing finance company has offered me a new loan of 6% which over 4 years for 10k would work out at 200 ish. Obviously would pass this by my trustee before entering into agreement as only have 6 months left of my trust deed , what do you think??

If they'll give you the loan and it's affordable for you to make the payments I cannot really see any problem crdrysdale1.

What will happen with the old vehicle?

God knows been in garage for 2 weeks injector problems, belt tensioner and clutch all fault garage will take a deposit or just scrap car

Sorry another question my finance company offered my a new agreement as my car was not parts of my trust would they be aware of my trust which could obviously hamper a new settlement???

I understand my trustee could fight my corner to help come to a new settlement is that true??

Hi tda

Would my finance company know about my trust deed although the car is not part of my trust ???

Sorry crdrysdale1, I'm not sure how we missed responding to you earlier.

If the lender is increasing the amount of finance I think they'll probably do a credit check which will reveal your protected trust deed.

I'd previously got the impression this had already been done from an earlier post you added here.

I don't know what they'll decide, but there's obviously potential for them to be concerned.

I'm not sure that your trustee would have any influence if your application fell outside of the providers acceptance criteria.

Ok thanks not sure if they were just fishing for business seemed very keen, here's hoping I won't need a new car in garage tomorrow

Hi guys

Thats the car knackered, infectors need replaced, rail replaced and sensors changed.

Spoke with my trustee today, advised I could include 2 years finiance left on car into tge trust and the finiance company would chase trustee, is that true?

If you cease making payments and hand the car back that should be true crdrysdale1.

What will be the plan to maintain access to a car?

God knows

Need to scrap money to get a cheap runabout

Does my chances of gaining credit greatly improve in 4 months once my trust is finished or much the same

Would it hurt to try for credit on a newish car or best wait for the 4 months

Credit will be hard to get for 6 years from when the trust deed started.

Paul

Thought that

always thought car loans were easier to get than standard loans

Cheers paul

sorry guys need some help

called finiance compnay today to arrange return of old broken car, undestandably theyre not too happy, tried a local garage to get a 5k car came back with 1200 deposit and 252 per months over 5 years.

Can anyone recommend a loan company that accepts people with low credit score, as struggling to get together 500 pounds for a cheap runabout

cheers