Welcome to the trust deed forum Haz7991.

Congratulations on reaching the final stages of your protected trust deed. That's excellent news that your trustee is happy for you to take out further vehicle credit finance.

As far as I know Arnold Clark isn't a credit provider. My understanding is that they're a credit broker and can connect you with lenders that will offer vehicle finance. There will be a credit check.

There are lenders who will offer vehicle finance to people while they're in trust deeds. Moneybarn may be the best known example. The condition for lending is sometimes that you can prove that your trustee has consented (which it seems they already have).

The interest rates and overall costs will be high, but at least it's an option.

It may make things easier and quicker for everyone if you tell the Arnold Clark rep about your trust deed and credit rating at an early stage.

Hi,

Thank you for your reply 🙂 I appreciate it.

I really hope one of there lenders will approve me tomorrow even if the apr is higher than normal I can extend the months I pay over , I don’t think I would go down the MoneyBarn route as it looks like it would Chuck me back into silly debt. Failing a new car tomorrow - hopefully fiat finance allow me to refinance my £4K balloon payment in January. Failing that option my partner may be able to take another pcp in his name and own the car whilst I use it ?

I really don’t want to pay twice the car value in a ridiculous apr loan #128557; I don’t get how that’s helping the nation that’s coming out the other side of financial crisis. Especially when during the whole trust deed I have paid a mainstream lender successfully. NEVER EVER AGAIN will I get myself into this situation. A learning curve indeed.

The rates are likely to be high if you personally take out car finance while in a trust deed Haz7991. If there's another way to make it work then you should probably look at that first.

I guess "helping the nation" isn't necesarily what a private company can or will be able to do. There's no particular point of criticism directed towards this individual firm here; it's a risky time to be lending to a lot of people irrespective of trust deeds etc.

Hopefully you're right that we're coming out of a financial crisis. I fear this financial crisis is only just beginning and, for many people, there's going to be a lot of really tough financial challenges to deal with in the coming months.