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Car dealers who give loan for bad credit history?

  • 01-10-2015 4:34pm
    #1
    kevincool
    Registered Users, Registered Users 2 Posts: 283 ✭✭


    Hi,
    Do you know of any car dealers who give finance to people with bad credit history to buy a used car? Any names greatly appreciated.


Comments

  • #2
    Jayop
    Closed Accounts Posts: 17,388 ✭✭✭✭Jayop


    kevincool wrote: »
    Hi,
    Do you know of any car dealers who give finance to people with bad credit history to buy a used car? Any names greatly appreciated.

    Where are you in the country? I know one in Sligo.

    Problem is though that the rates you'll pay will be extortionate compared to someone with good history.

    Would you consider going the bangernomics route and then saving the money you'd have been spending repaying a loan you could buy the car you wanted in a year or two with no loan??

    http://www.boards.ie/vbulletin/showthread.php?t=2057493741

    I got a 2006 Citroen c5 with low mileage for €1000 this summer a week after getting approval for a €13,000 car that would have crippled me in repayments because the interest was so high.


  • #3
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,763 ✭✭✭✭Atlantic Dawn
    M


    There's an ad on the radio for one, think it's Sarsfield Motors.


  • #4
    kevincool
    Registered Users, Registered Users 2 Posts: 283 ✭✭kevincool


    I'm from Dublin


  • #5
    Gumbo
    Moderators, Society & Culture Moderators Posts: 40,366 Mod ✭✭✭✭Gumbo


    kevincool wrote: »
    I'm from Dublin

    Sarsfield in Kilmainham.
    Their ads are on FM104 every day.


  • #6
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    Most of these car dealers organise the finance through a bank, so not sure how much difference it would make. I think it would depend on exactly how bad your credit history is ie is it one missed payment, or is it a complete default?


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  • #7
    kevincool
    Registered Users, Registered Users 2 Posts: 283 ✭✭kevincool


    Toots wrote: »
    Most of these car dealers organise the finance through a bank, so not sure how much difference it would make. I think it would depend on exactly how bad your credit history is ie is it one missed payment, or is it a complete default?

    It was a complete default 5 years back. But now I'm thinking of correcting past situations.


  • #8
    darragh o meara
    Registered Users, Registered Users 2 Posts: 3,237 ✭✭✭darragh o meara


    kevincool wrote: »
    It was a complete default 5 years back. But now I'm thinking of correcting past situations.

    Mourdants in Clonmel have Pay as you go autos, its worth looking at. There is also Bluestone finance which is a sub prime lender so you'll end up paying a higher interest rate.


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