No credit score - car leasing

Dondon23

Hi, I wonder if someone could give me some advice please.

I have just checked with the 3 main credit companies and 2 of them do not have a credit file for me, I'm still waiting to hear back from Experian.

I work full time and have a moderate income with a decent amount of disposable income per month. My house is attached to my job. I have no credit cards, 2 mobile phone contracts (one for my son) with the utility warehouse who I also use for energy, landlines and broadband and no debt.

Approx 10 years ago I was left with debt from an ex and subsequently became bankrupt which is why I've been scared to get into any kind of debt at all.

Due to the bankruptcy, I have been thinking about leasing a new car, rather than applying for a loan (which I doubt I'd get accepted for) using savings to purchase an older one as I have less than £2k savings and am sick of the repair bills attached to the car I have.

Does anyone have any idea what my chances of being accepted for lease credit would be or am I better to start with applying for a credit builder card?

Thank you

GingerBob_3

Leasing a car isn't credit, but some lease companies think it is, and hammer you with a credit check. However, it seems from the experience of others on this board that many lease companies properly understand the meaning of "lease", and credit checking or reporting isn't done by them. Try and find such a company.

Dondon23

Aah, that sounds promising. Will take a look.

Thanks for your help

Dandytf

I got accepted with one of the advertised car leasing places 3 yrs ago -see my sig for my cr rating. I didn't go ahead with it though was offered a brand new car on lease terms almost 300 p/month.

Please shop around, as I got accepted for purchasing a 2011 car with 'Moneybarn' -approx 1yr-18 months after starting SC dmp.

Best decision of my life-2 yrs of 4 yrs paid next month (only 35k miles since purchase)

Thrugelmir

Are you on the electoral roll?

Dondon23

Thank you Dandytf,
I'm new to this and a bit unsure what you signature means. If you get a minute, could you please explain.....
In a pm if you'do rather.
Cheers
Donna ☺

Dondon23

Thank you, yes I am on the electoral roll and have double checked this after finding out I had no credit score.
Donna ☺

DCFC79

Dondon23 wrote: »

Thank you, yes I am on the electoral roll and have double checked this after finding out I had no credit score.
Donna ☺

A credit score is of no use as lenders don't see it.

Dondon23 wrote: »

Thank you Dandytf,
I'm new to this and a bit unsure what you signature means. If you get a minute, could you please explain.....
In a pm if you'do rather.
Cheers
Donna ☺

At a guess I wold say it's referring to his dmp with step change, it started a few years ago and so much has been repaid.

Dondon23

What is "dmp with step change? xx

DCFC79

Dondon23 wrote: »

What is "dmp with step change? xx

dmp

People who have debts where they cant pay all the creditors as the wages don't cover all the debts.

step change

If you look at the debt free wannabe board you will loads of threads started by various posters who are having financial issues and plan to call step change.

Dandytf

Dondon23 wrote: »

What is "dmp with step change? xx

Without covering what happened in past 2011 (Unemployed at the age of 37)

I started a debt management plan with Step Change after struggling financially for +18months.

DMP started mid 2012 owed total 13k@approx 180 per month.

I posted cause I purchase a car (2011 plates +20K miles)2013-with my 'trashed' credit rating.

Thought I would mention that your credit rating does not necessarily men you cannot lease or purchase a car via finance.

I love my car-without going into detail the total cost after 4years finance will total almost the cost a brand new car-certainly higher rate interest from money barn-though no complaints from me, it means I can travel to my full time job I started mid 2011-when it's fully paid in 2 years with NO missed payments, it won't do my credit rating any harm at all as I work towards dmp end late 2019;)