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Getting a Car on Finance

YaffiYukYaffiYuk Posts: 1,167
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in Advice #1
Hi everyone,

Long story short - I need to get a new car after my last one died on me. The last one was 12 years old - loads of people have advised me to get a new/newer one, and get it on finance.

My one worry is, that I might not get finance - not because I have a bad credit history, I just don't have much of a credit history.

I think I'd prefer to get one that's a few years old, with lower monthly repayments.

Has anyone else been in this position/have advice? I'd prefer to not go applying for finance left, right and centre, and damage my credit score. Google is of course my friend in this situation, but I'd like to hear others' experiences with this. Thanks in advance.

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    [Deleted User][Deleted User] Posts: 241
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    #2
    Try carfinancechecker.com you can check yourself against a car and it wont leave a mark on your credit history :) My fella got finance no problem after only having a phone contract :)
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    mooblymoobly Posts: 281
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    #3
    If you get a car on finance make sure you get Gap Insurance, otherwise, if your car is written off you could end up still paying it off.

    Is buying a cheap old banger outright not an option?
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    MartinPickeringMartinPickering Posts: 3,711
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    #4
    I'd avoid finance at all costs. It's usually very expensive. Here's what I'd do:

    Pass the word around your friends and family (also Facebook, etc. if you use it) that you are looking for a cheap runabout. Invariably, you'll find someone who has just lost a loved one and wants to get rid of that person's car. It owes them nothing so they would probably rather see it "go to a good home" than make a profit. That being the case, you can often get a real bargain.

    Bear in mind that it's a sensitive situation and, if you are forced to make them an offer, be really apologetic and say that you know it's worth a lot more but you simply can't afford more but that you'll look after it.
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    YaffiYukYaffiYuk Posts: 1,167
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    #5
    moobly wrote: »
    If you get a car on finance make sure you get Gap Insurance, otherwise, if your car is written off you could end up still paying it off.

    Is buying a cheap old banger outright not an option?

    Not really ATM, and I need a car asap for work, so paying in instalments is really the only option. Thanks for the advice on gap insurance
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    Waj_100Waj_100 Posts: 3,739
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    #6
    If you go to a dealer and use them to arrange finance they will all try to sell you Gap insurance at a cost of £399....be aware that if you shop around you could buy Gap insurance for a lot less....do your research!
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    BluescopeBluescope Posts: 3,432
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    #7
    MartinPickering wrote: »
    I'd avoid finance at all costs. It's usually very expensive. Here's what I'd do:

    Pass the word around your friends and family (also Facebook, etc. if you use it) that you are looking for a cheap runabout. Invariably, you'll find someone who has just lost a loved one and wants to get rid of that person's car. It owes them nothing so they would probably rather see it "go to a good home" than make a profit. That being the case, you can often get a real bargain.

    Bear in mind that it's a sensitive situation and, if you are forced to make them an offer, be really apologetic and say that you know it's worth a lot more but you simply can't afford more but that you'll look after it.

    Wow !!!

    I do see a business here tho Grim Reaper Used Cars. I can see the advert now "Loved one just died, have a car you need to shift. Grim Reaper will find you a new home for your car. We re-home lots of dead peoples cars and have 10 years experience in matching up dead peoples cars to people that are not dead. Call Grim Reaper cars today."
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    chenkschenks Posts: 13,231
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    #8
    Bluescope wrote: »
    Wow !!!

    I do see a business here tho Grim Reaper Used Cars. I can see the advert now "Loved one just died, have a car you need to shift. Grim Reaper will find you a new home for your car. We re-home lots of dead peoples cars and have 10 years experience in matching up dead peoples cars to people that are not dead. Call Grim Reaper cars today."

    http://www.doricdictionary.com/classic-joke-peterheid-man-deid/
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    From_the_NorthFrom_the_North Posts: 20
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    #9
    MartinPickering wrote: »
    I'd avoid finance at all costs. It's usually very expensive. Here's what I'd do:

    Pass the word around your friends and family (also Facebook, etc. if you use it) that you are looking for a cheap runabout. Invariably, you'll find someone who has just lost a loved one and wants to get rid of that person's car. It owes them nothing so they would probably rather see it "go to a good home" than make a profit. That being the case, you can often get a real bargain.

    Bear in mind that it's a sensitive situation and, if you are forced to make them an offer, be really apologetic and say that you know it's worth a lot more but you simply can't afford more but that you'll look after it.


    :D:D:D:D

    One of the best replies I've read in a long time, almost spat my tea out!
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    thefairydandythefairydandy Posts: 3,235
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    #10
    YaffiYuk wrote: »
    Not really ATM, and I need a car asap for work, so paying in instalments is really the only option. Thanks for the advice on gap insurance

    You can get really well looked after older cars for pretty cheap upfront prices if you're lucky! My 2004 Citroen C3 is in great condition, and came with 12 months MOT and Tax for just £1350. 9 months later just a service needed (it came with FSH too).

    I dunno, maybe the previous owner died!
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    ste1969ste1969 Posts: 1,203
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    #11
    thefairydandy wrote: »
    You can get really well looked after older cars for pretty cheap upfront prices if you're lucky! My 2004 Citroen C3 is in great condition, and came with 12 months MOT and Tax for just £1350. 9 months later just a service needed (it came with FSH too).

    I dunno, maybe the previous owner died!

    for another few hundred quid you could have got yourself a decent car:D
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    mooblymoobly Posts: 281
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    #12
    YaffiYuk wrote: »
    Not really ATM, and I need a car asap for work, so paying in instalments is really the only option. Thanks for the advice on gap insurance

    no probs! hope you get something sorted. :)
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    MartinPickeringMartinPickering Posts: 3,711
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    #13
    Great. I give the best possible advice to save money and you treat it like a joke.

    Well it wasn't; it was deadly serious. (Or should that be "deathly serious"?)
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