Buying a first car?
Answers:
Just a few tips and tricks. Do your own searching for the best finance and get all quotations in black and white. Finance companies impose sales targets on their staff with bonuses on offer for the salesman who has sold the most credit so wait until after the 25th of any month when you are bound to get some guy desperate to reach his monthly target! Yep, it's as crude as that so never accept the first offer you get as there are "% ranges" in which the salesman is allowed to operate in. Don't be blinded by APR's, keep it simple and ask for the total amount to be repaid by you and divide that sum by the amount you want to borrow. That gives you the total percentage repaid minus 100% and consider if that is ok. Don't forget road tax, insurance etc. and for your own peace of mind, don't but anything over 4 years old and have it inspected by a motoring organisation if you want to buy an older car. Realise also that because you have a bad credit history, you are a prime target for the sharks out there so be warned.
You dont say were abouts you are. But keep away from Welcome Finance they did the finance's for Yes Car Credit & Carcraft. They are rip off merchants. You will pay back more than double the value of the car. Good luck and happy driving x
Do not get financing through the place where you buy the car. They set up deals with them and get kick backs. Go through your bank or credit union that is the best place. If they are unwilling then try hitting the pavement and going to different types of banks in your area to see if they can help finance your car. But what ever you do do not have someone else find your financing.
im no good no point asking me
Why not hang fire and save up as much deposit as you can to take advantage of the huge interest free deals on new cars?
Some give free insurance too and your brand new car will have a warranty, not have been flogged to death and so could even end up costing you less.
The manufacturers are fighting for sales of new cars and you can get massive discounts and deals, worth a thought.
For anything else try and take a mechanic with you or at least someone who knows about cars, drive the hardest bargain you can and then ask for another £300 off, you'll be about right then.
Ask your friends and family if they know of anyone in the trade who will look after you, if you come up against the slick talking salesman type then walk away because he'll probably run rings around you.
Most of all, watch the finance because they will throw interest rates at you like nothing and you need to find out what the TOTAL payment is.
A bank loan would probably be cheaper and give you the option to buy from where you like.
Want a cheap car? Try the car auctions, you can find an absolute bargain but you MUST have someone with you that knows cars really well.
( i agree with above about Carcraft, they'll eat you for breakfast)
dont know but e mail me when u get it and tell me what u got
Ok, let me get this right.you have bad credit cause you didnt pay bills in your past.
Now, you need/want a car and you want a low interest rate? ( since thats the only way a bank can "rip" you off )
Are you kidding me?
You made this bed, now you have to lay down in it.
Until you PROVE you are respoinsible enough to even get a decent interest rate, a finance company will only tell you no, if you start making demands.
Yes, you will pay more- you deserve to pay more, if you messed up your credit. Dont blame it on a finance company- they are doing YOU a favor by sticking their necks out in HOPES that you pay them back, which you have only proved so far that you wont !
I can not understand this type of thinking.
" I know I messed up my credit , but I want the same financing as the guy who has never missed a payment, has a degree in college, and has been in his home and job for 10 + years"
This mentalilty is what is wrong with this country !
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