Car leasing finance issues

trevor_lock

Had a quick search through the motoring forum but could find anything directly related to my issue.

Basically I am looking to get a 24 or 36 month lease on a new car.
I have between £200 & £500 to spent a month & have enquired through several leasing firms for a couple of different mercedes models (as they have the best deals).

I am in my late twenties, no bad credit rating, salary over £30,000 and lucky enough to live with my parents so have a decent amount of disposable income to afford a good car on lease.
However I have been knocked back by all of the firms I have approached with them stating that without any of the following I cannot get a lease:
• own a house
• married
• salary larger than the cost of the car

The leasing firms would not even put through my credit applications as they said it would't even be considered.

I have also approached some leasing firms who deal with bad credit but they have also knocked me back for the same reason.

Does anyone have any ideas of how to get around this?
I am unlikely to achieve any of the 3 above requirements in the next 5-10 years so if anyone knows a way around this it would help greatly as I would love a new car without the issues associated with buying used.

bigjl

I would suspect that perhaps you are not on the voters register?

Or more likely you are presenting in a similar way that fraudsters do when they intend to lease a car then disappear, which is why the risk looks far too great for the companies to want to risk it.

If you are PAYE then there is no financial reason to have a car on a lease, self employed, sole trader or director of a small Ltd Co yes, PAYE no.

If you have a high disposable income I would suggest saving up a sizable deposit and using one of the "options" type deals.

I think it unlikely with your current living arragements that you will qualify for a 3(35) lease deal.

Or you could try that lease company that was on Dragons Den Lings Cars, as they quote for personal or business leases.

forgotmyname

Get a car that costs less than your salary, Sorted.

DaniP

Hi Trevor,

I find your situation hard to believe.

I have worked in the motor industry previously and worked for van leasing company. I know if you have CCJs, Bankruptcy, defaults or missed payments on your credit history you wont get a car on a lease.

I havent heard anything so stupid as to say you need to be married or own your own home to beable to get credit. That is crazy. What you do need is clean credit history, some sort of history (so the finance co can see you will pay) and be on the voters roll.

I just leased a car, I'm not married, I rent my home and my wage is not more than the car!!

The company I went with are just a regular leasing company, not for bad credit or anything. Give them a try. It was Purple Contracts, just google it.

Hope that helps. Good luck!!

Penelopa.Pitstop

trevor_lock wrote: »

However I have been knocked back by all of the firms I have approached with them stating that without any of the following I cannot get a lease:
• own a house
• married
• salary larger than the cost of the car

That's really strange. No one asked me about things like these. I just ordered leased Mercedes (very good deal) and I only had to go through credit check made by Mercedes Financial Services. It was approved in minutes.

Are you even sure that the cars they offer are available? I had problem locating car advertised in deals because they were sold out. Maybe leasing companies are fobing you off for some reason?

I used http://www.contracthireandleasing.com/ to find deals and then contacted a few companies directly.