I'm 18, with only a credit card + £200 limit. i was declined for a£4k personal loan at my bank, now I've found a website called young marmalade, which offers cheap insurance + a new car.

http://www.youngmarmalade.co.uk/

What do you think, i'm extremly tempted!

Do you think they will accept me the finance of £12k over 4 years? the site is aimed at young drivers from 17, and on the quote, they quoted Typical APR 10.51%. what are your thoughts on this site? it seems very good as is recomended by The Driving Standards Agency, Richard hammon (topgear),BBC2 - Working Lunch and The House of Commons: "The House congratulates Young Marmalade, for its pioneering safer car and insurance scheme"

I could get a Brand new fiesta + pass plus course and half price insurance. it looks brilliant, because my insurance quotes were all mid to late £3000's and this company quote me £42 a month.

Anyone had any experience with them?

It states on their website that you stand a better chance of being accepted if you have a guarantor backing you for the loan.

Also mentioned on one of the pages is Car Insurance starting at £150 per month.

Only way of finding out if they will accept you is by them running a credit check on you.

My Dad said he would be a guarantor but he has Bad credit history,and just today, barclaycard suspended his account!

Would this have a huge impact on the decision? or is it easy to get accepted?

I'm 18, just got a credit card which i will pay in full every month, and i earn £700 a month gross.

Will i just get declined? are there any similar companies? what other options do i have?

I am connected with Young Marmalade but, of course, cannot make specific recommendations in an open forum.

Credit for anyone under the age of 21 with limited credit profile is a tough challenge, which is made easier with support from another family member who has a decent credit profile, usually in the form of a guarantee.

Alternatively, Young Marmalade has introduced a unique lease scheme linked to the insurance deal. This is specifically designed for young drivers that have a decent income, who cannot get guarantee support, and their only black mark is a limited or zero credit history.

If a young driver makes an application and it is not strong enough for normal types of vehicle finance, the lease alternative could be a way forward. The car is returned at the end of the term, but provided the rentals have been paid on time, this is a qualifying agreement that does help to build a credit profile.