Buying on finance

[Welshy]

Hello there, im new to this site and after many many intresting cars i finally got a job as a police officer so thought i'd treat myself to a brand new car.

Now being a petrol head i couldnt bare going to fords and buying a brand new focus and being happy becuase thats not me and i cant think of anything worse!!!

Now im only 20 nearly 21 and never have i ever taken out loans, only recently got a credit card and never spend more than 20 a time on it. I was told today that finance could be shakey on me getting it! Now i can easily afford repayments every month as i live with my mum still and have next to no bills! but becuase my current job is so new would it go against me? Just worried as have my heart set on a 200cup!

Anyone else in the same boat? Sam

 

[Mike]

Hi Welshy, what cars have you had before this?

You may find it difficult getting finance, there are two possibilities: Loan from your own bank; you are more likely to get accepted for one through them as they see how you operate your account. The other possibility (not sure if this can still happen) is parental guarantor?

Then there's the question of insurance!! :w00t:

 

[Mike]

Actually, I know who you are



???

 

[Willis]

Welcome Sam!!!

Firstly if you're not on the Electoral Register then that will go against you getting finance. Also, not having much on credit/finance believe it or not wont help you either because you won't have much of a history for creditors to look on and see if you're a good payer or not. A bigger deposit will help you though, but be warned that sometimes finance can be a gamble...

What I mean is my credit score is very very high (Experian), but because of that it's hard for me to get credit because I pay everything early or on time so creditors don't make much profit on me hahaha!

Car finance or Hire Purchase works differently as you secure your repayments against the car. You shouldn't have a problem getting it, just be aware that it's not always a formality.

Anyway, great choice with wanting a Clio. If it all goes through then you'll be over the moon, these cars really are superb.

 

[Roy]

You will get finance threw Renault but the interest may be a little higher
My son had the same problem 5 yrs ago with no credit history but within 20 minutes Renault had sorted it at a extra 1 percent
Good luck and welcome to the site

 

[Roy]

Mike were you get that sticker RAW???

 

[Mike]

Mike were you get that sticker RAW???

Ask Welshy; it was his car!!

 

[lukeeddy]

Massively depends on who you go though to get your loan/finance, my bank(Halifax) wouldn't lend me £1000 pound but a armed forces finance company lent me £13,500 so shop around, and everytime they do a credit check your credit rating goes down aswell

 

[BBKhorwell]

im only 19 and got my finance no trouble at all. I'm earning 18K a year and all I needed was a guarantor to cover me e.g parents. Think i built up a credit rating from phone contract payments never been late etc. I did it through carlyle finance incase you cant find anyone.

 

[knuckles]

I'm 21 and got finance no problem. Where are you based? I got my car from jct600 in Leeds. They do 0% finance and only have 1owner low milage cars in stock. May be worth a look? They had a blue 200 in last time I was there

 

[Welshy]

Hi Welshy, what cars have you had before this?

You may find it difficult getting finance, there are two possibilities: Loan from your own bank; you are more likely to get accepted for one through them as they see how you operate your account. The other possibility (not sure if this can still happen) is parental guarantor?

Then there's the question of insurance!! :w00t:

Hey man! yes thats me! Ive had a saxo 1.1, VTR as pictured !, 106 rallye, 2.0 306 gti-6, 1.9 e36 x2! Yes a long standing member on saxperience untill i got perma banned a whil back from a mod that didnt like me when i told him what i thought of him! Thanks for your help! Really want this 200!!!

Welcome Sam!!!

Firstly if you're not on the Electoral Register then that will go against you getting finance. Also, not having much on credit/finance believe it or not wont help you either because you won't have much of a history for creditors to look on and see if you're a good payer or not. A bigger deposit will help you though, but be warned that sometimes finance can be a gamble...

What I mean is my credit score is very very high (Experian), but because of that it's hard for me to get credit because I pay everything early or on time so creditors don't make much profit on me hahaha!

Car finance or Hire Purchase works differently as you secure your repayments against the car. You shouldn't have a problem getting it, just be aware that it's not always a formality.

Anyway, great choice with wanting a Clio. If it all goes through then you'll be over the moon, these cars really are superb.

Yes i have a credit card and pay off my debts when they are due but im so new! i really hope it goes through! And yes my mum was trying to get me to buy other new cars but none of them have the same appeal as a 200!

You will get finance threw Renault but the interest may be a little higher
My son had the same problem 5 yrs ago with no credit history but within 20 minutes Renault had sorted it at a extra 1 percent
Good luck and welcome to the site

Thanks! this gives me hope! haha

Mike were you get that sticker RAW???

The RAW is my mates garage check it out RAW motorsport on facebook or http://www.rawmotorsport.co.uk/

I'm 21 and got finance no problem. Where are you based? I got my car from jct600 in Leeds. They do 0% finance and only have 1owner low milage cars in stock. May be worth a look? They had a blue 200 in last time I was there

Really thats good! im based in southampton we have a specialist dealer in pompy although the guy i spoke to today was a KNOB! he had a blue cup in and he just wanted to sell me that with like 2k worth of extras i just didnt need and would only try and sell me the hire plan! wouldnt even go into detail the PCP plan! -.- idiot.

 

[Roy]

It's just my initials raw any chance you can get me one I willing to pay and advertise his business :thumbsup:

 

[Matt197]

Getting finance should not be a problem, I saved up most the money and got a loan for 5k when I was 21 no problem.

But I would never take out a loan for a car ever again.

 

[Mike]

Welshy, which mod was it? I can guess at Ryan or J22222222222222222222222222222222222222222222222222222222222222RA???

That used to be my heart and soul that site. It has evolved somewhat from when I used to go on there

 

[Welshy]

It's just my initials raw any chance you can get me one I willing to pay and advertise his business :thumbsup:

Yeh i can get you one buddy, give me a PM with address and stuff and ill give you his paypal and i'll send it off for you, a certain colour may need to get ordered for extra although there is lots of colours available!

Getting finance should not be a problem, I saved up most the money and got a loan for 5k when I was 21 no problem.

But I would never take out a loan for a car ever again.

Really? i know im very dubious but i want to do the PCP plan as that way i could trade it in again in 3 years and get the newest clio again or the megane 250!

Welshy, which mod was it? I can guess at Ryan or J22222222222222222222222222222222222222222222222222222222222222RA???

That used to be my heart and soul that site. It has evolved somewhat from when I used to go on there

Yeh man J2222222 the man is a complete c-unit. Such an idiot that site i put alot of time into made good mates and he got me banned over something stupid! ohwell! onto bigger and better i spose!

 

[Mike]

Yeh man J2222222 the man is a complete c-unit. Such an idiot that site i put alot of time into made good mates and he got me banned over something stupid! ohwell! onto bigger and better i spose!

You are very welcome on here, we have no nobbers on here, our Moderators prevent nastiness :hug:

My best friend is a Sax-p person, and I still see at least 5 people regularly from there.

But anyway, good luck with the finance!!

 

[shurm]

You should be fine on the Renault PCP deals as its their finance and if they pass you Renault sells a car so they are sometimes the easiest way to finance a new car. Most Dealers have used and new salesmen make sure you see a new chap, the guy today was probably used and not interested in selling a new car or explaining the PCP to you.

Anyway good luck, hope you get one soon.

 

[knuckles]

no good mate

iirc jct600 is a chain (right word?) may be worth seeing which is closest to you

 

[Welshy]

Ive been accepted although i need a garentour, this one guy at this dealership said i couldnt get anyone else but someone at my address to agree! but my mum doesnt want to do it! i was devistated and then i rung up another dealer and they said they didnt have to live at the same address!! anyone shed any light on this?!

 

[shurm]

It usually has to be a parental guarantor more than living at the same address ?? Who were you thinking of ? You can't just ask a mate