HelsW

Hi All

So we return to the UK after nine years in the USA in a couple of weeks. We need to buy a car but may need to do so with some financing. Has anyone done this successfully? I have no idea how difficult or easy it would be to get financing given the gap in our credit history in the UK.

Thanks, any help most gratefully received!

Helen

Tumbling_Dice

Depends if you are going to buy or lease... I imagine dealers have good options for leasing, but the figures need to stack up. I never found that leasing would be more economical than buying a 3 year old car.

Last time I financed a car in the UK was 2008 and went to my bank, who were able to beat anything the dealer had on offer. Also more attractive than hire purchase.

If you still have a relationship with a UK bank, they may be able to do something for you.

Have a read at What Car... they have some decent advice on purchasing.

HelsW

Will do, thanks!

cyrian

Your problem about getting finance or even a bank loan will be difficult if you don't have a UK credit rating.
You MAY have a better chance of getting a personal lease of a vehicle. (Personal Contract Purchase or PCP)
If you lease over a period of 36 or 48 months then you pay a deposit followed by a monthly payment for the agreed period.
The monthly payment is only for the difference between the new price minus the end-of-lease price plus any interest charges.
You are given a fixed or guaranteed price for the vehicle at the end of the agreed period and you can either buy the car outright or simply return it.
If you search UK vehicle websites or dealers then you will see the deals on offer.
Most car dealers push these deals to prospective purchasers.