Advice regarding adverse credit

Terryschocorange

Hi I posted last week regarding my partner trying to lease a car. He gets a car allowance through his job and wants to take up a 24 month lease.

The lease company have said that he needs to have a 'good' experian rating. This is ok as his rating is only a couple of point behind this and increases every month. He is happy to wait until Spring.

They have also said that there must be no history of adverse credit within 5 years. This is the problem. He has a few late payment markers on his credit file where he has paid bills a bit late. The markers are '1' markers which I know are less serious than '2' or '3' markers but would this still be classed as adverse credit?

They are all from a couple of years ago.

Any advice would be great

andyfromotley

Hi,

It depends upon the companies lending criteria. They will have their own which they dont publish.

However in general a car lease would have a less stringent criterea than say a mortgage and more so than a mobile phone contract for example.

Lat payment markers whilst not ideal are usually not deal breakers, i obtained a mortgage with one and had no problems. The only way he will know is to apply.

All of the above is different to his 'credit rating' which is a general rating given as an indication by the reference agencies. No lender will see this, they all use thier own.

Hope this helps.

Terryschocorange

Thanks for your reply Andy. The email from the lease company said that use experian and look for an experian rating of at least good. It's his/our own fault if they won't allow the lease.

Whilst I know that none of us should pay late, surely late payments are very common??