Car Leasing with Bad Credit History

lala9

Hi All

My friend has bad credit ie defaults and their current leasing contract expires in September, contract gained prior to bad credit. Can anyone recommend a leasing company that would possibly take them on. I've seen MSGs website anyone had any dealing with them?

smitchy73

no idea who msg is, but has he even tried to discuss a new deal with his current lease supplier, if he hasn't defaulted on payment they may be quite happy to deal with him still. Most lease companies don't seem to bad with delaing with people with poor credit ratings as the car is secured and I think they kick things off pretty quickly if there are defaults, so he should try who he is with first then try around.
I personally have been knocked back for a loan with one bank but got accepted no problem at another, the same for other things too including before I got my car, i got knocked back for something, can't remember what and was worried when I was getting my new car, but it went through no problem, in fact the guy said it practically came straight back to him, marked approved.
Hope this helps.

DaniP

No mainstream lenders will consider someone with bad credit history, such as CCJ's, defaults, etc

BugsyBrowne

lala9 wrote: »

Hi All

My friend has bad credit ie defaults and their current leasing contract expires in September, contract gained prior to bad credit. Can anyone recommend a leasing company that would possibly take them on. I've seen MSGs website anyone had any dealing with them?

Would you give someone a leasing contract with a history of bad credit.....theirs your answer!

lala9

BugsyBrowne wrote: »

Would you give someone a leasing contract with a history of bad credit.....theirs your answer!

If you've got nothing useful to say... butt out!

slyracoon

lala9 wrote: »

If you've got nothing useful to say... butt out!

I thought it was useful, your friend needs a reality check...

Why are they taking out a lease when they obviously have money issues? Probably living beyond their means and wanting to drive a flash car they can't afford.

CKhalvashi

slyracoon wrote: »

Why are they taking out a lease when they obviously have money issues? Probably living beyond their means and wanting to drive a flash car they can't afford.

This is a bit unfair.

I'm obviously living beyond my means and driving a car that I can't afford, then.

The reason that I lease mine is because it comes off of taxable profit, and I don't have an amazing credit history either, even though I've never defaulted on anything and haven't been in serious debt at any point in the last 6 years. I have some big bills that need paying every month, which I do personally, then claim back.

In short, we don't know the reason for the bad history.

CK

lala9

This is my point, you don't know the history of this person and how the bad credit came about. My friend could have had something dreadful happen to them which caused all this. People are too quick to judge. I ended up bankrupt due to something terrible happening to me and out of my control unfortunately. These things happen. My friend is not after a flash car, just something simple and newish which isn't going to cost a fortune in repairs.

interstellaflyer

slyracoon wrote: »

I thought it was useful, your friend needs a reality check...

Why are they taking out a lease when they obviously have money issues? Probably living beyond their means and wanting to drive a flash car they can't afford.

Who mentioned a flash car, you can lease basic cars as well you know, a friend of mine leased a Peugeot 106 for 3 years.