Need a new car but can't get finance!

redunited

Not sure if this is the correct forum, mods please move if not!

Wanting to get a new Car or nearly new on Finance.

Found a used car I liked online at a dealership, I filled out the loan application and waited.

After 3 days of hearing nothing, I sent them an email. Still heard nothing so I thought id try s different garage.

Filled out the new finance application and waited, still no reply.

At this stage, I started to wonder if maybe something bad was on my credit score, so I contacted the ICB and got a copy of my credit score.

On this I was amazed to find my file blank, the only thing that showed was a Finance company accessing my file twice, presumably the two loans I filled out.

I was lucky enough to be left some money which enabled me to put towards my own savings and purchase a home without a mortgage.

I saved up and purchased a second-hand car for cash.

I have no debt and I work full time, take-home pay is roughly 500 per week.

I do have a mobile phone on contract with Three but this as always been paid on time but they do not show up on the ICB history.

So I am left confused as to why I dont get any reply to my applications from the dealerships, nor why I am unable to obtain credit!

How do you get credit if you have never had large credit, to begin with?

listermint

redunited wrote: »

Not sure if this is the correct forum, mods please move if not!

Wanting to get a new Car or nearly new on Finance.

Found a used car I liked online at a dealership, I filled out the loan application and waited.

After 3 days of hearing nothing, I sent them an email. Still heard nothing so I thought id try s different garage.

Filled out the new finance application and waited, still no reply.

At this stage, I started to wonder if maybe something bad was on my credit score, so I contacted the ICB and got a copy of my credit score.

On this I was amazed to find my file blank, the only thing that showed was a Finance company accessing my file twice, presumably the two loans I filled out.

I was lucky enough to be left some money which enabled me to put towards my own savings and purchase a home without a mortgage.

I saved up and purchased a second-hand car for cash.

I have no debt and I work full time, take-home pay is roughly 500 per week.

I do have a mobile phone on contract with Three but this as always been paid on time but they do not show up on the ICB history.

So I am left confused as to why I dont get any reply to my applications from the dealerships, nor why I am unable to obtain credit!

How do you get credit if you have never had large credit, to begin with?

So basically neither dealer called you back. So you don't actually have an answer yet..

There's your answer call the dealers

redunited

listermint wrote: »

So basically neither dealer called you back. So you don't actually have an answer yet..

There's your answer call the dealers

I would have presumed that it to be good customer service for them to call me, especially if they wanted to close a sale.

Either way surely had I got the finance surely they would have called me back?

elperello

You never got credit so you have no history to be recorded.
However you have a history of saving and you own your own house outright.
Ask your bank or credit union for car finance.
Secure your loan and go back to the dealers or better still let them stew and go elsewhere.

tayto lover

elperello wrote: »

You never got credit so you have no history to be recorded.
However you have a history of saving and you own your own house outright.
Ask your bank or credit union for car finance.
Secure your loan and go back to the dealers or better still let them stew and go elsewhere.

That still does not offer an explanation as to why neither dealer came back to the OP.
I'd love to know why too.

listermint

redunited wrote: »

I would have presumed that it to be good customer service for them to call me, especially if they wanted to close a sale.

Either way surely had I got the finance surely they would have called me back?

You know some dealers can just be crap. If the thread is about crap dealers then we should change tack.

But it's about not getting an answer on your finance request

No one here can answer the question. We are all just guessing including you.

You need to speak to the dealers for an answer.

Avatar MIA

redunited wrote: »

I would have presumed that it to be good customer service for them to call me, especially if they wanted to close a sale.

Correct, but that's irrelevant. Phone them.

How much are you looking for? It's one thing to have no credit history (bad thing), it's another to be looking for a large loan. Do you have a deposit, this will give the finance company equity to work with.

But, you've got the best answer above, go to your bank and get an approved amount you can access. The finance company wont know you from Adam.

€500 per week is about €30k per annum Gross, and doesn't tend to give a great disposable income... usually, but you've your home paid for which your bank will give credit.

Good luck!

elperello

tayto lover wrote: »

That still does not offer an explanation as to why neither dealer came back to the OP.
I'd love to know why too.

Sorry I thought he wanted to get finance.
He would need to go back and ask them.
Damned if I'd go back like a naughty schoolboy though.
He's obviously financially sound and their loss that they won't get a sale now and also lose future business.

pilly

Doing it online is the issue. Dealers don't take people seriously unless they meet face to face.

elperello

pilly wrote: »

Doing it online is the issue. Dealers don't take people seriously unless they meet face to face.

Sorry I missed that bit too (it's been a long day!)
It's not so hard to go back when you've never been there:)

Just get your approval and rock up to the garage that has the car you think will suit.
If they don't give you a good deal move on. There are plenty of cars out there.

Cee-Jay-Cee

Physically go to the dealer, get them to fill in the finance applications and see what happens. Plenty of people apply for finance to see if they can get accepted but they may have no interest in actually buying a car.

If you want a car then go and look at them in person and deal with an actual salesman.

DaveyDave

2,100 take home a month and no rent/mortgage, no reason you couldn't be approved for something? Are you trying main dealers like VW or Audi for example? As others have said go down in person. I was only paying an Eir bill when I was approved by VW for PCP. Proof of savings, full time permanent job and a deposit at the ready is all I needed.

Not having rent or a mortgage to pay puts you in a very good position. If I wasn't paying €725 for my half of the rent I'd be paying that on a car instead!