# Car finance/credit with CCJs?



## georgey2011 (Oct 24, 2011)

Ive recently sorted my debts out and what I owe by im left with 2 CCJs for the the next 5 years.. (idiot when i was 18 years ago) Im almost 27, take home about 21k a year after tax, buy and sell a few motors so always got a good couple of grand going in each month. 

I know people will say well if you have that much then why not save and pay cash? I simply can't do that, my outgoings a month all in total around £700, ive just paid my overdraft off and at the minute past couple of months im sitting about a grand in credit (so 2k in bank including 1k overdraft) next months payday comes in, another 700 out so each month im only saving a few hundred quid at most and I hate working my ******** off to live to limits with money id rather have a nice motor and pay it off per month.

Im getting sick and tired of pissing about with older cars, today made me realise that after trying to do what was supposed to be an easy job but nevermind. Im looking at something VW/Audi either turbo diesel or turbo petrol, at between 6 - 8 grand mark.

Found one i liked on the net but he said because of the CCJs he would have to pass my details onto a third party finance company and id end up paying more interest.

Does anyone know anywhere, or anyone, or anything i could try? Or am i a bit stumped with the CCJS hanging over me?


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## Mattey h (Apr 19, 2011)

You could check out your credit file with experian. The credit expert company can offer advice on how to repair your credit history.
I am in exactly the same boat as you, can't save money although I get plenty in each month. My credit history is shot too. Wanted a decent motor last year, as I was sick too of messing with old bangers. Got a £9k lexus on finance, but ended up with a much higher apr than normal.
Previously had a motor with welcome finance and had to pay 38% apr on it!
You will most probably just have to put up with the higher interest rates for the next 5 years or so.


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## georgey2011 (Oct 24, 2011)

Funny you should say that, i registered with experian and the activation code is at my parents so will hopefully be able to have a look tommorow!

Want something VW/Audi with plenty of power on tap. Id never get a run of the mill car on finance !

Who did you get your finance with if you dont mind me asking? I know already to avoid yescarcredit and welcome finance !


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## mattsbmw (Jul 20, 2008)

I think you are daft given the problems you have already had with credit.

But to answer your question you will just have to accept a higher interest rate if you choose to have more debt.

Noodle offer a free credit file checking service too, that may help you to check everything is OK.


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## Guitarjon (Jul 13, 2012)

Also, with money issues you shouldn't count a 1k overdraft as being your money. I have also been in a simular position, although not to the extend of ccjs and the first thing I did was get rid of my overdraft, after contacting haringtonbrooks who froze interest and consolodated al my outgoings.

I have a car finance. I had someone look into it for me and it ended up me not being able to pay the 6% one I had to pay 16% apr because of my credit history.


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## nick_mcuk (Jan 4, 2008)

If you have bad debt you need to improve your credit rating before you will get a normal loan and this wont happen over night.

You need to prove to the financial world that you are a changed person and have become more financially responsible....which and this isnt meant as being nasty isnt what you are showing here....you never count an overdraft as part of you savings/cash as its not yours and can be pulled from you by the bank at any time.

Also you may dearly love a nice car but in reality you cant afford it and if anything happened you would be back to square one and on the roads to more defaulted credit.

If I was you I would keep what I have knuckle down work hard and save the money yourself.

If you want to repair your credit rating I would suggest you get one of those Capital One cards that help you repair your ratings, pay it off in full every month and you will be soon on the road to recovery.

Oh and before anyone has a go...I have been in the same situation and its taken me over 6 years to undo and replay the debts I had.


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## Guitarjon (Jul 13, 2012)

Agree with the above post. It's ironic that the best way to gain a better credit rating is to go and get another credit card but it's the easiest way, providing you have actually changed.


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## GJM (Jul 19, 2009)

I deal with people like yourself every other day.....your sub prime as far as the lenders go and they will penalise you, which is only fair.

However some of the APR's they offer are nothing short of criminal but probably realise that most wont touch with a bargepole....which is a good thing for both parties I think.

Means you can go back to the drawing board and save some cash for your next car.

However like most I come across your figures don't add up...

'Always got a good couple of grand going in each month'

Outgoings are £700.....so do the math, if true and your heads screwed on the right way then don't see the issue.

Plus your probably evading tax from buying and selling a few motors...which is another help


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## McClane (Dec 9, 2010)

georgey2011 said:


> *Ive recently sorted my debts out* and what I owe by *im left with 2 CCJs for the the next 5 years..* (idiot when i was 18 years ago) Im almost 27, take home about 21k a year after tax, buy and sell a few motors so always got a good couple of grand going in each month.
> 
> I know people will say well if you have that much then *why not save and pay cash? I simply can't do that*, my outgoings a month all in total around £700, ive just paid my overdraft off and at the minute *past couple of months im sitting about a grand in credit (so 2k in bank including 1k overdraft*) next months payday comes in, another 700 out so each month im only saving a few hundred quid at most and *I hate working my ******** off to live to limits *with money* id rather have a nice motor* and pay it off per month.
> 
> ...


Important bits for me in bold.

Without wanting to sound sound overly harsh mate; but I think this will... So:

-just got out of debt (but problematically)
-sick of living to what you earn
-want a luxury car
-looking to get back into debt as soon as possible in order to get one, 
-"just can't wait" and save

Recipe for disaster if you ask me. Especially seeing your overdraft as "money in the bank".

I appreciate you having been in debt and having worked hard to get out of it you'll feel pretty flush right now, and possibly due a bit of a treat. But whilst it is a good acheivement, I think you need to realign your perspective to living back in the "black" side of a bank balance; so you're not wanting to always take on a quick purchase and pay it off for two years, but put away for two years and have the true means to spend.

No one likes having to wait, and scrimp and save, etc (well, some probably do). But life isn't easy and doesn't owe you anything. Give it two years and you could buy the car you want outright if your circumstances stay as described.


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## nick_mcuk (Jan 4, 2008)

The above post really couldn't have put it any better...migth seem a bit harsh and possibly what the OP will not want to hear but its the truth....get clear of all the past debts with a minimum of 2 years of saving and repairing.

Besides buying something you have worked hard and saved for will feel all the better!

Living beyond your means will ALWAYS end in disaster....you should be looking at a £3-4k car not £6-8k


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## georgey2011 (Oct 24, 2011)

I have no debts at present. Weirder still the estate agents said i had 2 CCJs and i owe someone or somebody £500 or something quid. Just logged into my creditexpert account for the first time experian/same thing. 940 score out of 999. The only negative factor is im in not on the electoral roll at my address. No mention of CCJS or outstanding debts, quite a glowing report really!


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## GJM (Jul 19, 2009)

georgey2011 said:


> I have no debts at present. Weirder still the estate agents said i had 2 CCJs and i owe someone or somebody £500 or something quid. Just logged into my creditexpert account for the first time experian/same thing. 940 score out of 999. The only negative factor* is im in not on the electoral roll at my address*. No mention of CCJS or outstanding debts, quite a glowing report really!


See bold...the fact you are not on the roll, is anything but a glowing report, probably one of the biggest factors.

I've seen people who earn very big salarys but not on the roll, get chucked out the water usually


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## 666 (Dec 4, 2010)

georgey2011 said:


> I have no debts at present. Weirder still the estate agents said i had 2 CCJs and i owe someone or somebody £500 or something quid. Just logged into my creditexpert account for the first time experian/same thing. 940 score out of 999. The only negative factor is im in not on the electoral roll at my address. No mention of CCJS or outstanding debts, quite a glowing report really!


did you use iva's to get out of debt?

iva's have been none to show up as ccj's even though they say they don't,

i don't rate the credit report checks, reason being,
my brother-in-law is being chased for 10's of thousands of pounds and has been for over 2 years, cant even open a bank account ,yet when we look at his file on experian etc he gets the same as you, fantastic credit but not on electoral roll and i have heard the same from a few people


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## NickF (Sep 25, 2009)

I think that there's been some great advice given out already on this thread, but thought I'd make a couple of general points:

Firstly, remember that there are 3 consumer credit bureaux in the UK. In no particular order, these are Experian, Equifax and Call Credit. All lenders (at least all lenders that I would consider borrowing from...) use one or more of these bureaux to make decisions upon whether you are a good risk. If you are having problems when applying for credit accounts and you don't know why then it's well worth getting your credit reports from each of these to see if there is anything that you don't agree with. Experian have Credit Expert, but the other two provide mechanisms that allow you to see the information that they hold on you as well. If they are holding incorrect data about you then they are obliged to correct it. 

Most lenders do not use a credit score provided by a credit bureau. They use the full credit report (sometimes more than one) in conjunction with information that you have provided as part of the application process in order to generate their own score. The fact that you have a good "Experian Score" as far as Credit Expert goes does not necessarily mean that a lender will score you in the same way. Generally speaking though, what Experian or any other CRA considers makes you a good risk will probably be similar to what a lender will think.

Part of the agreement that lenders have with the different Credit Reference Agencies is that in order for them to be able to view people's credit reports they have to give data back to the CRA's. It's called a "Reciprocation Agreement" and it's how credit bureaux get their data around late payments and the like. If a lender only uses one of the credit bureaux, let's say Experian, then potentially any negative contact that the lender has with you will only appear on your Experian credit report, not on the others. This is the reason why it is important to check all 3 for adverse data as most lenders don't publicise which of the three they use.

Finally, as someone suggested above, the single most important thing you can do to improve your prospects of getting credit with most lenders is to get yourself on the Electoral Roll. Also, if you are looking to improve your credit history, then get a credit card and make sure you pay it on time! Too many credit accounts will adversely affect how you are scored, but an account or two that show good payment history (no late payments and the like) is the best way of improving your creditworthiness.

Hope this helps.


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## Maggi200 (Aug 21, 2009)

Am I being stupid but where does the remaining 2/3 of your income go to if not savings...?


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## Skodaw (Mar 19, 2006)

The fact your not on electrol role will possibly mask hidden debt that the agency's have not found, plus as has been said without it you'll get nowhere.

Like you when I was 18 I was stupid, to the extent of over £20,000 worth of credit card debt, along with other debts I owed close to £30,000 

Now I'm 41 years old, and it still has a negative effect on my rating, although it has improved massively in the last couple of years. And I now can at least get credit cards again if I wanted - I dont, I dont like anyform of credit anymore and I do my damndest to avoid where ever possible.

I was living in my overdraft everymonth - to the limit and sometimes beyond, like you using money that wasnt mine - until I decided to call the bank one pay day and tell them to REMOVE my overdraft, was the scariest thing I've done, and was hard for the first few months - but its also the BEST thing I've ever done - I know live within my income, and even manage to save some each month - the first money I put in a savings account in over 10 years was a really good feeling


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## Bero (Mar 9, 2008)

OP - you say you can afford it, but also say your bank account has bee stable at £2k for a couple months. In that case you're NOT saving and CAN'T afford it unless you decrease your outgoings. Have you paid your CCJs? That will help somewhat. I'm guessing when you go onto the electoral register it will pull trough the CCJ info on you.

You might get a specialist to offer you finance. My sister is in car sales and had to go to a specialist for someone with bad credit, they were accepted and bought a new car at 30% interest....completely insane....but there's no fix for stupid!


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## woodybeefcake (Oct 12, 2008)

I just want to add my two pence to this! 

For a start, no one should flame anyone for being silly enough to get into debt when they're young. I too was 18 and I too did the same thing. No CCJ's or anything like that but I do have a pretty poor credit history. I had no idea what I was getting into and really wish I would have had someone teach me all about credit and the pros and cons of it. Like in school or something.

Credit companys are alright denying people 'who are no longer trustworthy' with their money - ie 27 year olds in good employment who have learnt their lesson but will happily dish it out to 18 year olds with part time jobs and full time education ahead of them (or not as the case may be). My brother is 18 and can easily get loans CC's and an overdraft as he was going to recently.

HOWEVER, OP you have set yourself up in the wrong way a bit here. I'm 27, I have the same sort or salary and my missus earns quite a bit less. We have a house as well as a car. 21k = about £1300 a month after tax. If you are only spending £700 on out goings where is the other £600 going? My outgoings are higher than that with rent and what not and I still manage to pay bills, debts AND SAVE money.

I do have car finance and I can totally see where you are coming from. I am very much a want it now rather than wait person. I couldn't afford an Abarth 500 for 3-5 years if I had to save up and buy it outright. Finance is good if used correctly. I make sure mine is paid on time and in full each month because I now fully appreciate the fact that keeping the car on the drive means being very sensible financially.

Also you say you have 'a good few grand' going in each month? Well I think you need to declare that to the tax man for your own good and also save up. If you want a £6k car by what YOU have said YOU can feasibly have that in a few months, not years.

Also, you say you want a high powered VAG car but don't want the niggles of old cars? You will only be getting high mileage rep mobiles if you want something fairly new for that money.

Godo luck to you, get some proper advice and do it properly and I'm sure you will get there!


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## georgey2011 (Oct 24, 2011)

Update on this. My credit history is very good. I do not have any CCJs (dont know what the estate agents where on about or where they got that from) I have no outstanding debts and im in good credit my only downfall not being on the electoral roll.

My bank were doing good deals on loans if you pay it off within 12 - 18 months, just had a payrise at work aswell. So applied for 3k to put towards a motor. Ive been provisionally accepted and they have sent forms out for me to sign and the money will be available within 2 working days once they recieve the forms back, so not sure whether that means ive been accepted or not?


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