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It was a fairly clear cut choice: car finance or walking in the rain? The old banger had finally given up the ghost some while back, and so it became necessary to look around for a new car. Like most people in such a situation I took extraordinary pleasure in browsing the car showrooms and dealers' forecourts looking at a whole range of cars - some I thought I might be able to get a car loan or car credit finance for, and others that I could only dream about - but it was fun all the same. I discovered that car dealers and car salesmen are really great people. They all took such a keen interest in me, and were only too happy to help answer any questions I had, show me a few models, let me sit in one or two even. I got a free cup of coffee and a stack of brochures that would easily double up as a step should I need to change a light bulb any time soon. Then of course it came to sorting out the car finance. I didn't think my credit was too bad - I have a full time job, and although last year was a bit hairy in places thanks to the credit crunch, everything has been more or less sorted out by now. I knew what my disposable income was and what I could afford. To be honest, the old banger that had given up on me cost me just as much in parts, oil and servicing to keep it on the road as any decent car finance arrangement I could get hold of. One lovely salesman managed to persuade me to have a go at applying for car finance deals, and having fallen in love with a fantastic little car at a price I thought pretty reasonable, I was handed yet another cup of coffee, plus a plate of chocolate biscuits and custard creams, and we sat down to go through the application. What astounded me was how quickly the plate of biscuits was removed and the atmosphere significantly cooled once the computer returned the result of the application - declined. If you've ever been declined an application for credit you'll know the sinking feeling, the embarrassment and the wish to just get out of there as quickly as possible. I decided not to risk it again, and avoided car showrooms. I thought that the best place to go for a car loan would be my bank. They'd understand me, and realise that my circumstances last year were a little unusual, and that I am not what I would have thought could be classed as a risk. Like so many people the company I was in last year folded unexpectedly, and thanks to a great management decision to boost morale, none of us were advised of the potential problem until it was too late, and we were made redundant with no warning and no final pay. I was lucky though, after a couple of rather difficult months I landed an even better job on a slightly higher salary, so managed to keep home and family afloat, albeit having had a few nasty red letters from creditors pointing out that I had failed to keep to the agreement I signed several years earlier. Sadly they didn't seem to appreciate that I wasn't blessed with the ability to predict the future, and that feeding my children was of more importance at that time than paying off the credit card. Anyway, a quick but nonetheless embarrassing trip to the bank later and I my application for a car loan had again been declined. A classic case of the computer says 'no'. I toyed briefly with the idea of walking to and from work and the shops in the pouring rain each day, but didn't think that the laptop and the suit would survive terribly well, and as for public transport - the three busses per week all left at ten o'clock in the morning. I don't think the new employer would approve. There is good news however - I found a company offering guaranteed car finance. I didn't really consider it seriously at first. I tend to believe that if it sounds too good to be true it usually is. But to satisfy my curiosity I submitted an application. They seemed more interested in my current circumstances and my ability to pay rather than my credit history, which was not only a remarkably refreshing experience, but seemed to make a great deal more sense in today's uncertain world. Once the application was approved I had a fixed, guaranteed figure I was allowed to spend up to. Having a car finance agreement already in place I then had a terrific time browsing the forecourts and dealers once again, but this time, without worrying about being embarrassed. Now all I have to worry about is losing the pounds I piled on eating all those chocolate biscuits and custard creams they offered me!
Article Source: http://kawarthapublishing.com
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