Discussions on life after your bankruptcy discharge.

Moderators: TalbotWoods, JaneClack

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By moaner
#205098 I would say no, this is what I was looking at, I was going to clear my credit files, but there is just so much info on them that is wrong, i just don't know where to start, and even if they were cleared, I might have to wait the full 6 years from bankruptcy anyway :roll:


I have decided to just save up for a year or so and buy a car with cash :shock:
By birdbrain
#205120 I have just been approved for vehicle finance but be warned it is expensive. APR is 34.1% and the minimum loan is 7k, I am waiting for a while to enable me to save up a bigger deposit but once approved the finance is there for when you are ready to take the plunge. As long as you can prove you're who you say you are and have been running a bank account with no problems since br you have a very good chance of being approved.
I haven't cleaned my credit files but it didn't make any difference.

Here's a link to the website:

http://www.wessexvc.co.uk/
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By TalbotWoods
#205127 Be careful!!

The companies head office is the same one as Yes Car Credits used to be!!!

And the sales site was originally a franchise for Yes Car Credit

I know dis 'cos I used to have a car from YCC on Hinton Road, in Bournemouth (where I used to live) and had lots of dealings with YCCs head office when I did the deed!!!
By birdbrain
#205141
TalbotWoods wrote:Be careful!!

The companies head office is the same one as Yes Car Credits used to be!!!

And the sales site was originally a franchise for Yes Car Credit

I know dis 'cos I used to have a car from YCC on Hinton Road, in Bournemouth (where I used to live) and had lots of dealings with YCCs head office when I did the deed!!!

When you say be careful do you mean keep an eye out for hidden charges or large penalties for early settlement?
The APR is obviously very high at 34.1% but I guess you'd expect that a few months after going br, there is a £225 documentation fee but other than that I can't see any other charges.
I suppose the fact that they are the same address as yes car credit used to be could either mean they're the same company trading under a different name or a different company trading from that address.
Wessex are the brokers but the name of the company that provides the finance is Duncton No 1 Ltd who are based in Rogate, West Sussex.
There was another company called Bell finance that could have helped if I had come up with a 50% deposit and at a lower APR.
There was another poster on here (foolishboy) who recently got a car via wessex and spoke very highly of them so maybe he can shed a bit more light on whether or not they are ok.
By foolishboy
#205320 Yes, happy customer here although I got mine pre-BR so managed to get mine via Bank of Scotland finance at 14% or so APR.

Foolish
By johnny 73
#205413 the problem with yes car credit was not only the high interest charges but the fact that several reports were made in the media of cars being overpriced and underserviced

they didnt have a good reputation
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By Red Devil
#205463 Having seen YCC on Watchdog I would be very wary of a company that might be linked to them.
By birdbrain
#205576
johnny 73 wrote:the problem with yes car credit was not only the high interest charges but the fact that several reports were made in the media of cars being overpriced and underserviced

they didnt have a good reputation

You can buy a car from whichever garage you choose, they just provide the finance.
By jonnie000
#205918 You could try one of the many car supermarkets who will have access to several lenders. But be very careful, as they will try to talk you into very expensive warranties, servicing packages and so on. You can buy a warranty quite inexpensively from companies such as Warranty Direct, they will give you an online quote for the vehicle you are looking at purchasing. And make very sure you know what you're letting yourself in for before putting a deposit down! Budget, then make sure you stick to that budget, else you'll end up bankrupt all over again :?
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By Red Devil
#206016 Tesco also have a car warranty scheme with 3 different levels of cover.