in a pickle over car finance.

disco1

MODS this may be in the wrong section.

I like many messed up my finances in 2009 . I lost my job and my credit rating, however I am working in a secure job now for 5 years. The problem is my credit is still bad and I need to replace my ten year old freelander as I drive daily from Drogheda to Dublin.
I work shift so waiting on busses late at night is not suitable.

Today I was yet again refused credit for a car dispite being able to make monthly repayments as I have plenty of disposable income. I have only recently started saving again, and don't have large savings in the credit union. My own bank is ptsb but again my credit is bad.

I paid car finance on an in-laws Audi A6 which she could not afford and this worked well for me not being able to access finance but it blew is engine and was too costly to replace.

I'm sure there are thousands like me, what options do I have as I need this car for my work.
Some will say ..tough luck I'm sure.

Thanks for any advice .

Ken.

Any chance you could save in a credit union for a few months and then apply for a loan from them?.

L1011

Bangernomics, unfortunately. You'll need to stick with old, larger engine, higher tax but very cheap to buy cars for a while most likely - some very decent condition and quality cars available for a grand, but a years tax is two and so on.

listermint

Bangernomics , you don't need a new car you don't need a freelander buy a car your can afford to run.

This is an easy one but I suspect just like 2009 you want to out spend your current situation.

You need to learn from that .buy something reasonable drive it and save until you can buy something you want and can afford

slimjimmc

Mod: Moved to Banking & Insurance & Pensions. You've a better chance of getting financing tips there.

disco1

Thanks for advice lads ....usual story .own the banks a few grand but owe them millions and get it written off.

phormium

Credit Union your only hope. Make an appointment to explain your case to loan officer, there are always exceptional cases that go to lending committee for decisions even if you don't fit the criteria.

disco1

Thanks.

Will try them.

Toots

Another vote for the CU - we just recently got a car loan with them for my husband. Similar story to you - he was driving up the M50 and the engine blew up, so the car is a dead duck. He works an hour away from where we live, and there is no public transport near us. I rang the CU and explained what happened, and they were able to organise a loan for us. We had looked at some cheap older cars, but when we added up the cost of fuel, tax and maintenance, it was actually cheaper for us to repay a loan every month - we got an 08 diesel and my husband's fuel cost has gone down to €20 per week. I've been a member of the CU for a few years though, so not sure if that would have made a difference.

disco1

Thanks for that .so there is a bit of hope.

flutered

thumbs up for the cu, even though their interest rates are higher they work with the persons life rather than a banks shareholders, even if one is to miss a payment ring them and thats the end of it, miss one with a bank and the pressure is applied immediatly, i could have a bank account if i wished, i am now on a loan which is well more than my 100th one