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Scottish Trust Deed Forum
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Topic starter
05/10/2014 1:19 am
Hi everyone
Well I finally paid my last payment on the 1st October, I really can't believe how fast the last 3 years have flown by. I've had an email from Apex confirming my payments have been completed and I can cancel my standing order with my bank.
On a different note, my car which has managed to get me through my PTD is really on its last tank of petrol... I applied for a car loan through Car Loans 4 U and was accepted but a word of warning for anyone else in need of car finance, they made so many stipulations I was not really happy to go ahead with it. The conditions they set were the car should not be any older then 5 years old, it must be under 100,000 miles on the clock, it must cost over £6000 and they would finance £5000 of it, so technically I would have to put down a £1000 deposit.
Having just spent 3 years getting out of debt I don't want to borrow more than I need to and although they accepted me for finance I felt that was what they were doing. I went to my local car dealer and explained my situation and they put me in touch with First Response Finance. An hour later and a couple of emails I was approved for finance and got another car which I pick up on Tuesday. In comparison to CL4U, I don't have to pay a deposit, it's over 36 months not 48 and it's £40 per month cheaper.
05/10/2014 10:54 am
Congratulations on completing your side of this AlphaB.
Your story about car finance really helps to illustrate how different lenders can take very different views of the same situation. Even where options might be somewhat limited it still pays to shop around.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
05/10/2014 6:09 pm
We are waiting until all the defaults drop off the crfs to apply for car finance for the wifes next car. Noddle report due next week which should be clear!!
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
06/10/2014 9:39 am
Well done on getting to the end of your Trust Deed, AlphaB. And thanks for sharing your story regarding the car finance.
Presumably now you don't have Trust Deed payments to make the payments for the car should be a doddle?
Scottish Debt Solutions Expert - Ask me for help setting up a Scottish Trust Deed or Debt Arrangement Scheme plan.
09/10/2014 8:16 pm
Hi AlphaB,
Well done on successfully completing your Trust Deed.
Thanks for sharing the details of the finance company. I'll keep this in mind for any of my clients who ask about car finance.
Best wishes for the future and enjoy being debt free oh and enjoy the new car!
David is not currently posting in the Trust-Deed.co.uk forum
14/10/2014 5:11 pm
Hi AlphaB
Just to say that I am so glad you made this post. Myself and hubby both discharged from our trust deeds earlier this year and were looking to get a newer car, but knew there would be challenges in respect of getting finance, if we could get finance at all.
Read your post and decided to give both car loans 4 u and first response finance a go.
Hubby was accepted for both, but we too went with first response due to them being a little cheaper per month with less restrictions.
Picked up our new car today and are thrilled and cant quite believe we got the finance, very easy and straight forward and a great company to deal with. It will also help hubby's credit rating too in the long run.
Thanks for sharing your experience as its helped us too.
All the best and happy motoring.
16/10/2014 10:26 am
Hi Lizs,
I'm sure other people will take confidence from your post and success in obtaining credit for the purchase of a new vehicle so soon after completing your Trust Deed's.
Enjoy the new car!
David is not currently posting in the Trust-Deed.co.uk forum
