Best to opt for no credit check car finance offer?
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Written on: 29.10.2009 [15:53]
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Saha
Saha
Topic creator
Posts: 3
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Which deal is better overall: a poor credit history loan, or a no credit check car finance deal? I don't have a great credit record, and I'm not sure exactly what the differences are between these options and which one is more suitable long-term. |
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Written on: 30.10.2009 [11:46]
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Mason
Mason
Posts: 1
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Since everyone's personal situation is different, there probably isn't a hard and fast rule for deciding between these two. In general I would imagine that if you have a really poor credit history, a no credit check loan might work in your favour. The loan would be determined by the amount you wish to borrow and your ability to repay it, rather than be judged based on your past behaviour. On the other hand, poor credit history loans are designed to ensure that customers with a poor credit rating get a good deal. Have you tried applying for different kinds to compare the offers they give? |
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Written on: 10.11.2009 [15:00]
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Joe
Joe
Posts: 2
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Try the online calculators to see what company is willing to give you a good rate. Websites such as MoneySupermarket have a special filter system to show you which companies offer to customers with bad credit history and you will probably be able to search several companies at once there! Good luck!! |
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Written on: 17.11.2009 [12:20]
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Phoebe
Phoebe
Posts: 3
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I don’t know, wouldn’t it be that the poor credit history loans are designed to get the most out of customers who know no better? It seems strange that any profit-making business would try and base its custom on people who are known to not be able to financially sort themselves out. It seems more logical that they would be out for themselves and not to give us the best deal possible…. Maybe I’m a cynic but hell, why wouldn’t they? |
