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  • Car On Finance

    Ok, is having a car on finance good? I'm 19 nearly 20, ill be coming out of my electrical installation apprenticeship in july ish time i hope , and will be on better money, i was thinking of selling the golf, to pay for my insurance for the astra vxr, and then putting the vxr on finance, do you think i would be aloud to go on finance due to my age? my credit rating should be good because i have all sorts going out of my bank acc and i dont miss any payments. Any tips..

    Many thanks, Ed

  • #2
    Providing your comfortable and can manage the repayments, why not


    BUILT BY WG MOTORWORKS

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    • #3
      allowed.........and yes you only need to be 18 to get finance in your own name provided you finances are up to scratch
      Stage 3 Arden Astra gone
      Stage 2 burg

      ....................Arden Astra .....................
      Airtec Fmic/tophat/direct route/miltek/weight reduction/RnD mapped

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      • #4
        Originally posted by Edwardioo View Post
        I'm 19 nearly 20, do you think i would be aloud to go on finance due to my age?
        I can't see why not. I had one at 18 in my name . Your credit rating isn't so much based just on outgoings and not missing payments. You get better credit being in managable debt for instance - loans, morgage, credit cards etc.
        Last edited by Crampo09; 31 May 2011, 11:45 PM.
        Peter: Hey Lois... what's this word? Lois: Evil. Peter: And this one? Lois: Knievel. Peter: And this one? Lois: Was. Peter: And this one? Lois: Born. Peter: And this one? Lois: In. Peter: And this one? Lois: Montana. Peter: Ah... oh, hey Lois did you know Evil Knievel was born in Montana? Family Guy - I Take Thee, Quagmire 04x21

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        • #5
          im looking at it for me when im 21 end of year aswell mate aslong as you can afford the payments i think it will be fine and can save a nice amount for a deposit. You wil need your mum or your dad on the finance aswell because your under 21 just incase you can't afford it they come to them i believe.

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          • #6
            Its worked out ok for me mate, finished my electrical apprenticeship year before last, got a coup that died so got a vixer on finance, i have a few direct debits, phone, credit card etc but all payed on time and a default on my credit report which wasnt my fault and i still got a good deal with g-mac, a company in partnership with vaux so you should be good to go without much bother, plus theyll bend over backwards to get you away with a car, just a word of warning. Make sure your insurance is ready to swap over as the free weeks insurance is only for over 25's on the vxrs, i nearly had to wait longer to get mine but i got the cert through email praise jebus
            http://www.vxronline.co.uk/forum/sho...raigJG-s-VXRed

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            • #7
              Yea ill shop around and have a look! Cheers 4 the help

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              • #8
                You might have a few isues without a guarantor mate, i only just about got finance on my vixer (at a decent rate anyway) i'm 22 and my credit score is deemed excellent. The issue they had with me was the amount of history that was available as although what i had was excellent, there wasn't enough. I did manage to though after a bit of haggling

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                • #9
                  I would always buy on credit, providing you can comfortably afford the monthly repayments as it saves you having to shell out a load of cash upfront. As long as your sensible with the term, ie, if your going to keep the car for 3 years, make sure the loan is for no longer than 3 years (or your paying for something you would potential not have any more) and your not going to be struggling to find the repayments. As your young I doubt there is much credit history available for you so it my limit the number of providers who will lend to you, and push up the interest rates so make sure you look around

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                  • #10
                    Another route to consider is the PCP offer that is available on the VXR, not sure if there are age restrictions though.



                    my VXR history: Arden Corsa, Astra Nurburgring, Corsa Arctic, Evoke VXR8, Black Corsa, Silver Vectra, a long weekend with an Insignia, a chilli burger and now a siggy tourer!

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                    • #11
                      Originally posted by moeman View Post
                      Another route to consider is the PCP offer that is available on the VXR, not sure if there are age restrictions though.
                      Whats pcp?

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                      • #12
                        Originally posted by Edwardioo View Post
                        Whats pcp?
                        Personal Contract Purchase - http://www.vauxhall.co.uk/offers-fin...g-options.html

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                        • #13
                          Cheers M8!

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                          • #14
                            as an example of my finance, my bro works in a bank and came with me to the dealer.
                            basically he gave them what he can get and told them to either match it or beat it, so they did which saves me hassle paying off my bro and getting him into debt.

                            so you can barter a bit with them - and also they looked at something like 7300 for my care after PX and i basically said 7k on finance plus my clio and your on...so he came back out with 6995 *hand extended*

                            basically what im saying is theres the possibility to barter with finance rates.

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                            • #15
                              provided you can afford it go for it

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