Car finance on maternity leave

amyapple207

Hi, I am currently on maternity leave and going back to work in 3 months time (well my rolled over holidays start then and I physically return the month after but I will be paid from this point). I have an excellent credit rating (999 out of 999) and my question is whether I can get car finance for either a new or nearly new car on a personal contract plan (pcp) at this stage? I understand that lender might say no guarantee that going back (I am - I'm a Solicitor and want and need to go back financially) but feels unfair not to be able too when I have savings to pay for next few months payments on top of deposit required. Don't want to apply and be refused. I need a car now as I am struggling getting my heavy baby in and out of my 3 door and its giving me back problems!

Thanks in advance

Gaz83

Your credit score is meaningless.

All you can do is apply. Some companies might accept. Some might want to wait until you're back at work.

You could get a rear-facing front car seat. That's what we've got.

ViolaLass

amyapple207 wrote: »

Hi, I am currently on maternity leave and going back to work in 3 months time (well my rolled over holidays start then and I physically return the month after but I will be paid from this point). I have an excellent credit rating (999 out of 999) and my question is whether I can get car finance for either a new or nearly new car on a personal contract plan (pcp) at this stage? I understand that lender might say no guarantee that going back (I am - I'm a Solicitor and want and need to go back financially) but feels unfair not to be able too when I have savings to pay for next few months payments on top of deposit required. Don't want to apply and be refused. I need a car now as I am struggling getting my heavy baby in and out of my 3 door and its giving me back problems!

Thanks in advance

Be able to borrow money is not a human right.

foxy-stoat

amyapple207 wrote: »

I have savings

You can always sell your current car and use your savings as a budget to look for a better car that suits your needs, then take out all the finance you like once your back to full time work and buy a new car on credit - sell the current one and put it back into your savings pot.

If you buy wisely then the money you may lose on the car will off set the interest you would of paid on the finance.

Good luck

andyfromotley

Generally the 'bar' for car financing is set pretty low as they are fairly desperate to shift stock. So you may well be approved for car finance if you are committed to this route.