Finance for car

JamesKerry

Hi all.

Managed to get work in a town 25 miles away and need finance for a car in order to travel there. Of course most places nees proof of income but i cant provide it since i am only starting next week but cant travel there without a car!!!

No public transport available to the area where ill begin work.

Please can someone suggest a way to get finance in my situation?

Gf works part time and doesnt get enough of a salary to statisfy financers!!

colm_mcm

Is there any chance of getting a lift from someone else who works in the job I wonder?

You could buy something for a few hundred to start you off. Do you have any no-claims built up for insurance?

JamesKerry

I do. I have two years built up. You wouldn't mind but I have a bmw 320d sitting outside the door that i haven't been able to afford to run since october.. Needs an alternator and possibly a turbo now though. Don't think anyone from my area works there, not that i know of anyway.

colm_mcm

Is the 320d worth anything I wonder? Maybe flog that, swallow your pride and buy something cheap and nasty. Get the insurance on a monthly payment, 3 months tax on a 1.0 is only around €50

JamesKerry

At this point only about 300 at most since its not even running. I had thought of it but selling a 2500 euro car for 300 because i can't afford to fix it hurts but it may come to it.. (Swallow my pride lol because I have a bmw :P)

CPTM

Would it be worth going into your local bank with a special request to borrow 750-1000 euro? You might get lucky if you go well dressed with your contract and a realistic repayment plan mapped out. Someone with a bit of sense might acknowledge your difficult position and give you a dig out. Just my experience is when you talk to local bank managers, it's a different experience to the internet algorithms they have installed online at a top level. That'd be enough for a little runner and the first few months of tax/insurance..

JamesKerry

I actually was a business account holder at my local bank for over 2 years. Think they would help me out after all the business i gave them... Nope.. and I had quite large sums of money going through. But going past that, I think a will have to sort out some sort of run around for a few weeks. Once i start ill be on a great salary but when you can't prove it, they don't even want to know

colm_mcm

If you could get the BMW on the road again cheaply it would be an option, but you're still looking at the tax and insurance and potential repairs that will be tough when you're starting out in a job, plus spending money only to find there's more repairs needed.

By swallow my pride, I mean by driving some misery box shopping trolley for a while rather than by not driving the 320d.

bigroad

Maybe rent a car for a month or so till you get going.

CPTM

JamesKerry wrote:

I actually was a business account holder at my local bank for over 2 years. Think they would help me out after all the business i gave them... Nope.. and I had quite large sums of money going through. But going past that, I think a will have to sort out some sort of run around for a few weeks. Once i start ill be on a great salary but when you can't prove it, they don't even want to know

Such a pity. I know banks are businesses with rules and things, and they wouldn't make that much money off a small loan like this, but I feel the more rural ones could recognise the impact they could make to local enterprise with helpful loans like this. Even if they break the rules a little. Especially for amounts of 750 euros.

But sure look, a rant for another thread on a different day.

Best of luck with it and the new job.

MarkN

My sister in law did VW PCP on a Golf after only returning to Ireland after 10 years away and being in her job a week. Don't know what you do but on her occupation, the sales guy was able to select the company she works for from a drop down menu and the bank were satisfied that it's a big company and not going anywhere. Maybe an option for you, dunno.

bmwguy

I might get roasted for saying this but of you are really really stuck and have nobody that can help you out try provident personal credit. Kind of payday loan place. Very high interest rate but on a small sum over short period might not be too much. Just to get you going. Some of my work clients have used them for short term credit. Just pay it back over as short a term as possible and borrow as little as possible.

If it's a choice between that and not being able to attend work I would be giving them a call. Last resort. Just repeating that to save me being attacked!

oscar2

Is there a Credit Union branch locally. They're fairly approachable and more likely to stretch rules than a Bank ever will.

bazz26

OP is it possible to take out a small loan from a credit union? A few grand to buy a cheap daily driver to keep you going for 12 months or so. I think it's not wise taking out a large sum on finance when you are literally only going in the door of a new job. Your first 6 months of the job you will be on probation and what happens if you or your employer decide things just are not working out? Your then job hunting again but stuck with a hefty loan.

Nuw

bigroad wrote: »

Maybe rent a car for a month or so till you get going.

That's what I'd do, probably the less hassle while still relatively cheap if you stick to the base model in their range.