car finance and deposit

[mattyt]

theres a car come up i have seen and iv asked about monthly payments and all that malarky and thats fine and affordable its just the deposit they want up front . . i have not got that much money in one go. is there any way aorund this???

[barrett130]

what figures you talking mate? car price? avaible credit? and how much for deposit?

[mattyt]

well it works out at 94 quid a month which i can handle easily enough its jus the lump sum of a 400 quid deposit, the car is worth 4000

[mattyt]

is there a way to sort of bypass the deposit and jus start paying it off or something?? because by the time i have the deposit money the car will probably be sold

[mattyt]

bumppppp

[Danr]

You could get a credit card and put it on that. Then pay it off ASAP and you won't be charged that much.

[williamsvts]

you not got a car to trade in or sell for deposit?

[bpm]

Ask them to re arrange the finance with a final balloon payment, so theres no deposit. You will end up paying a little more but it will save upfront cash.

[mattyt]

cheers mate. my old car got stolen and written off so iv got nothing to part ex either!!

[betty02]

Credit card it, borrow of a friend/family emmebr and arrange to pay them back?

[mattyt]

problem is my dads workin away atm and all of my mates are in a skint position to lol i think i might take the balloon payment option if i can because i start a better payed job in a bout a month to

[Luke]

Won't they lower the deposit amount and raise the finance payments a little?

What car is it?

[Seery_VTS]

What car is it?

Citroen C4 - 1.4 I believe :p

[mattyt]

with regards to obtaining the finance i think im going to be credit checked, iv got 2 overdrafts one of which is student and the only direct debit i have is my phone bill. any opinions whether i will qualify??

[vtr_cheshire]

Credittttttt crunchhhhhhh

They have tightened up now end on giving out credit, you might struggle

[mattyt]

speaking on the phone to the sales manager he seemed like theres not going to be a problem . . .i mean my credit report isnt going to say a whole lot i dont think

[Mr_X]

^
which isnt a good thing

[mattyt]

and whats the crack with the whole gurantor thing?? i mean yeh iv got one sorted im jus curious

[mattyt]

bump
!!

[mattyt]

also i am going for another test drive tomorrow and if i decide i want it and my guarantor cant be there will they giv me something to take back for him to sign or can i take something with me from him?

[mattyt]

please help

[Danr]

Credit reports are very personal so it's kind of impossible to say if you will qualify or not.

On the guarantor side of things i'm pretty sure you can take the form away as it doesn't have to be witnessed. I'd expect them to want photocopies of a passport and stuff though. Maybe even credit check the guarantor?