Finance for buying a car

[fizzyBee]

I want to buy a new car within the next month. I have about �3500 for a deposit but I don't have a very good credit rating. I earn more than enough to afford the repayments. Would I have trouble getting finance for a car from a garage? Could I do it with a guarentor?

[muppeteer]

YES car credit are not too fussy. Also the website moneysupermarket.com gives loan info on different types of credit rating.
I do know somone who was refused a loan by a normal loan company for a car, but the garages own finance accepted them with no problems.
Good luck

[Oneeyedvic]

The finance in the secondary car market is going through quite a turmoil.

It used to be the case that car finance was 'realtively' easy - since a lender had the security of taking the car off you and selling it - something that they can't do with a normal loan or credit card.

However, car prices are dropping quite rapidly, and noone knows what a car will be worth in 1 years time - so they don't know if they will be safe or not if you default in your payments.

Working in the industry and knowing a fair few car dealers, I would suggest that at the moment you would be hard pushed to find finance.