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September 23, 2008 - I've just recently passed my driving test and im looking to buy a new car...problem is im only 18 and my credit rating is not that good. I've been refused two loans already so i dont really want to apply for more as of of yet so i dont mess up my credit rating more. Ive got two credit cards that i use but i pay these back in full every month What is the best way for me to get car finance?

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It sounds like your going to need a co-signer in order to get your car,since your credit rating is not so good.
My advice to you would be dont get car finance yet. There is no point going into more debt for a car. Buy a cheap runaround till you are in a better financial position to be offered a good rate by a reputable lender. Do NOT go to a lender who is willing to lend you money even if you have a bad credit score..they only rip you off..BIG style...take it from me..i know!!
I can't understand why anyone would get car finance - you say you have no credit card debts, then you're obviously not stupid. Spending Â£1000 on a car (not sure whether or not you're in the UK) will get you a perfectly good car that'll last for a few years without expense if you know what you're doing. Finance on a car is a dead loss - you pay interest, and the car depreciates, so you lose all ways. Don't do it!
The cheapest loan you will get is a personal loan from a banl. Every other type of loan will cost you more. Hire purchase will be the worst deal you will get Have a look at this site to see your options
As you have already been refused loans, I think you will struggle as all loan companies use similar methods of assessing you, so if one declines you, they usually all do. There are loan companies and car sales companies that openly advertise that they will give you credit even if you can't get it anywhere else, so if you desperately want credit, you could use one of those, but you need to bear in mind that as they are accepting you when other companies have declined you, they will charge very high interest rates, and often, the value of the car reduces quicker than the amount of the loan, so when you come to sell the car, and you use the money from the sale of the car to pay the loan company, you are still left with the outstanding amount to pay.
there are many online sources who provide car loans for people have bad credit and also with minimum rate of interest, for your reference http://www.carloan123.net my one of friend had recently got a car loan from there with bad credit and also with minimum rate of interest, you may try this source may be helpful to you.

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