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Hi Edwin, I need to take out a loan for another vehicle. I currently have 1 going on at the moment. The situation is this - i was in a car wreck about a few weeks ago. Before that happened I went home on leave (i'm in the navy). While I was away my car insurance lapsed and ultimately expired. Not realizing this I drove my car when I got back in town. Thankfully my car was the only car involved (I slid off the freeway ramp). Like I forestated I am still paying on the first loan which was £10,000 and i still owe £9000. However, I am in desperate need of transportation and my bank will not finance me for another vehicle. Is there anything you guys could do to help me out?
Hi Terrance, how is your credit history? There is a possibility that we could get you approved for another car loan but you'd have to have a very good credit history. If your credit isn't A1 then the only thing i can suggest is getting a family member to finance a car for you and have yourself as a named driver on the insurance policy. The last option would be to obviously save some cash for a run-around. Kind Regards, Edwin
Hi Dave, there is a possibility of getting two cars on finance as long as you can show that you can afford the two cars with either payslips or bank statements. Who is the 2nd car for? If it's a family member can they apply for the finance or not? Kind Regards, Edwin
Hi Dave, i understand. As long as you can show that yourself personally can affod 2 cars then you'll be ok. If not then we may struggle as the lenders may feel you're over committed. Kind Regards, Edwin