Car finance

I have a £2000 grand monthly salary and still don't think I will pass my credit score to get this car approved for me it’s still not fair what do others think?

Reply 1

hotpud

Firstly read this article
https://www.moneysavingexpert.com/loans/credit-rating-credit-score/

Secondly, never get car finance. It is a rip off. Similarly, don't lease a car. It is a waste of money.

If I were you, go to your bank and see if they will give you a loan. Buy a car for £5k, pay off your loan and then run your car into the ground over the next 10 years. Sure, you won't have a brand new car, but you will have free motoring once you have paid off your loan. You will probably get a reasonable deal from your bank too.

Reply 2

Emma:-)

Entertainment Forum Helper, Careers Forum Helper

Original post

by ShahidullIslam

I have a £2000 grand monthly salary and still don't think I will pass my credit score to get this car approved for me it’s still not fair what do others think?

It might seem fair, but the lenders have credit score checks/affordability checks etc for a reason.
Why do you want to finance one? Get a cheaper car that you can afford to buy outright.

Reply 3

ThunderNyx

£2000 income is good but credit score also depends on other things like past debts, missed payments or how much credit you already use. You might want to check your score and try improving it before applying again. A cheaper car might be the better move for now.

Reply 4

Admit-One

Universities Forum Helper

Original post

by ShahidullIslam

I have a £2000 grand monthly salary and still don't think I will pass my credit score to get this car approved for me it’s still not fair what do others think?

That's strange, in all your other threads you've stated that you've been unemployed for 9 years.

Reply 5

Riley Ingle

It can definitely feel frustrating when your income seems enough, but your credit score still holds you back. You're not alone a lot of people face this.
If you’re having trouble getting approved for car finance, it might be worth looking at a more budget-friendly car for now and working on improving your credit. Even small changes like paying bills on time, lowering credit usage, and avoiding new credit applications for a while can help build your score.
Also, consider getting advice from your bank sometimes they can offer a simpler loan with better terms than car finance companies. At least that way, you fully own the car from the start.
Don’t give up sometimes the smarter move is just taking a smaller step first.