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Topic: Get a credit  (Read 823 times)

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Get a credit
« on: March 14, 2006, 03:00:24 AM »
I am going to relocate to UK and will reside in SW London suburb. So, I am thinking about buying a car but heard that in UK I am not qualified for a credited purchase until I live there for 3 years.

Please, advice if this is true and/or how to get first credit in UK.  ???

Thank you in advance,
- Michael
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Re: Get a credit
« Reply #1 on: March 14, 2006, 04:49:37 AM »
You will have a hard time getting credit for a car without at least a UK licence and some credit history.  I've never heard the 3 year rule before.
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Re: Get a credit
« Reply #2 on: March 14, 2006, 06:30:03 AM »
Well, I need a car to take a test and get the UK license, don't I ?
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Re: Get a credit
« Reply #3 on: March 14, 2006, 06:30:42 AM »
The 3-year rule isn't really a 'rule'... it's just that creditors will ask you for your addresses for the last 3 years, and if any of those addresses are not UK addresses, you will probably fail the credit score instantly.
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Re: Get a credit
« Reply #4 on: March 14, 2006, 09:18:46 AM »
Quote from: Michael_P on March 14, 2006, 06:30:03 AM
Well, I need a car to take a test and get the UK license, don't I ?

You can take the test in your driving instruction car.
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Re: Get a credit
« Reply #5 on: March 14, 2006, 04:09:05 PM »
Unfortunately I know very little about credit in the UK.
However, when we moved here we paid cash for our cars since we were told we had no credit whatsoever. Maybe you can get a good deal at the car auctions? We did.

Best of luck.
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Re: Get a credit
« Reply #6 on: March 14, 2006, 04:25:23 PM »
I've been here about 2 1/2 years and have a relatively low credit score because I don't have a lot of credit history, however I just bought a brand new Kia all on my own without dh's name being involved at all.  ;D

They turned me down initially (Kia credit) but then ran it through another credit company that they contract with and they approved a four year loan.... If you're working full time and have direct deposit everything will start to come together after about a year - have your bank account for 6 mos. then add an overdraft, maybe try for a store card, then add a proper credit card, etc.

Also, you have to have a provisional English license to buy a car (new rule) - you can't buy it if you only have a foreign license. The good news is you can get a provisional license right away - no tests or anything - you just have to send the form, a picture, and your passport to the DVLA (there's a long thread about this on the travel and transportation board....)
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Re: Get a credit
« Reply #7 on: March 14, 2006, 05:45:49 PM »
Also, if you're in London, a car may be totally unnecessary.  It depends on how far out you live and if there is bus/tube service.   
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Love your life, poor as it is. You may perhaps have some pleasant, thrilling, glorious hours, even in a poorhouse. The setting sun is reflected from the windows of the almshouse as brightly as from the rich man’s abode; the snow melts before its doors as early in the spring. Cultivate property like a garden herb, like sage. Do not trouble yourself much to get new things, whether clothes or friends. Turn the old; return to them. Things do not change; we change. Sell your clothes and keep your thoughts…

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Re: Get a credit
« Reply #8 on: March 15, 2006, 02:51:22 AM »
Guys, it is amaizing how worm I feel now. I wish I had  the same friendly relationships here, in NY...

We will be staying in Surbiton, SW of London. There are a few good swimming pools in nearest towns and we are going to visit them regularly, at least (I hope I avoid driving into London as I did for NY and Boston).

May I ask how to find a car auction?

Did anybody try buying a car in UK using American credit card and then transferring balance with 0% interest from card to card for awhile - only $75 fees involved and, certainly, some attention ?
 ;)
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Re: Get a credit
« Reply #9 on: March 15, 2006, 10:51:33 AM »
My husband and I bought a used Volvo off a dealer for cash.
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