Car allowance and leasing

Legacy_user

I've got a second interview for a new job that offers a £4,000 car allowance. The idea is I lease a new car using the allowance to pay for it but unfortunately I am rebuilding my credit history am unlikely to pass a credit check. Any idea on what I can do please? I don't really want to have to explain my position to my potential employer if i can help it. Thanks

TELLIT01

If you don't believe you will be able to lease the car because of your credit history I don't see that you have any option but to advise the employer at some point. I wouldn't necessarily to it at interview stage, only raise it if you are offered the job.
A car allowance suggests that you are required to travel for the job. If you can't fulfil that requirement you will come unstuck very quickly.
Do you have a reliable car of your own? If so, you may be able to take the allowance without using it to lease a vehicle.

Zero_Gravitas

Every time I've been for a job with a car allowance, it's been for either a company car that the employer leases and then gives you the car to drive; or you get the cash allowance (taxable). If you opt to take the car then the credit issue goes away. Would be worth clarifying.

getmore4less

if they give you an allowance and expect you to lease a car then beware, that's dodgy for you.

You get lumbered with the lease if you ever leave for any reason.

Also you go over the miles and it's your cash.

You want cash(taxed) and you choose what car to provide and how OR they take on the liability for the car.

Undervalued

getmore4less wrote: »

if they give you an allowance and expect you to lease a car then beware, that's dodgy for you.

You get lumbered with the lease if you ever leave for any reason.

Also you go over the miles and it's your cash.

You want cash(taxed) and you choose what car to provide and how OR they take on the liability for the car.

I would assume they simply expect her to have an adequate car to use and will then pay a somewhat reduced mileage rate as they are already contributing to the capital (or rental) costs? If so then how she goes about it is up to her. I agree if she is stuck with a lease on a significantly better car than she would otherwise run, then changes job, that is a problem.

However a poor credit history is going to make purchasing difficult too unless a family member is able to lend the money. At least with ownership there is an asset to sell if circumstances change.

Darksparkle

Do you have a car currently? Sometimes when you do you can continue to use your existing car providing it meets any standards the employer sets.