Are there any 'poor credit' car finance companies that come reccomended?

[rodenal]

As the title really, a bit of a stupid question to ask i suppose but are there any of these companies that wont try and take the p**s out of me?

 

I already have a welcome finance car loan at astronomical rates which i am about to pay off, the problem being the car is fairly useless to me now, as i do about 500 miles a week, it's older and although i can fix most of the things that go wrong myself i'm getting tired of spending my whole weekend doing so. It's also petrol which is no use.

 

Anyway i have defaults from about 1.5 yrs ago, no other bad credit and have had an excellent payment history since, although i realise this is not a long time.

 

Just wondered if it would be possible for me to get a semi-reasonable rate or if im dreaming really, and should forget the whole thing and put up with the fuel/repair costs for a while longer.

 

I have about 1k deposit plus the car which i'll get about 2.5k trade in on if that would make any difference. Ideally a car about £9k so 5.5k finance over a couple of years.

[coxyloxy]

For God's sake don't use Duncton, they are absolute a***holes. Rip off stealing thieving idiots! I used them; they used a low residual value to calculate my car hire payments...which were quite high but I felt was worth it as the residual value of the car at the end was way under market price therefore I would recoup some money then. Well last week they have spanked £7000 onto the resiual price saying they can and the residual price is not contractual. I hate them...I have just wasted 2 years paying a stupidly high monthly premium and can get nothing back at the end!! I may as well have burned money every month. Grrrrrr!

[gizmo111]

Can you not get something decent for £3.5k and then save up what you would be paying monthly to upgrade when you have the money.

Try your bank first as if your credit is good with them they sometimes over ride the external CRA's

[steveoram1]

Fairly new company called Blue Motor Finance who's rates are more reasonable than most & will unlike most do a 5 year term getting you into a better car. Generally only available through motor dealers but google them & give them a call.

[BigBadCAGBagger]

Blue motor finance are a commission based agent, who use companies such as Duncton. Don't use Duncton