Car leasing with poor credit

Cornucopia

leespot wrote: »

Don't forget that you may need a fairly large deposit depending on the deal.

Most basic leases require a deposit of 3 or 6 payments. Some PCPs are beginning to compete with this. e.g. I saw a Corsa advertised the other day as £169 down and £169 per month.

The OP hasn't mentioned how much they might want to put down as a deposit, but my advice would always be to put down as little as possible when one of the options (possibly the only option) will be to hand back the car at the end of the term.

austonic

Seeing evidence of an employer provided car allowance is positive for many leasing companies. You need to ask. Used will be cheaper to lease of course.

Don't forget to consider you might need class 2 business car insurance not just social, domestic and pleasure. Class 1 if carrying good associated with your work. (Think I have the classes the right way around.) SDP generally includes commuting to and from the same place of work on a regular basis but not going to different places in connection with your work.

BossKy

OP did you get anywhere with this? what was the result? did you find anyone willing to accept you as I am in exact same position now.

thanks

GazNicki

BossKy wrote: »

OP did you get anywhere with this? what was the result? did you find anyone willing to accept you as I am in exact same position now.

thanks

As advised in another thread, you would be best suited to start your own thread to get the appropriate responses and advice.

Resurrecting old threads will often lead to nowhere.

MEM62

If you have poor credit are finances tight?

If so, the before committing to the car perhaps you need to establish what kind of mileage you will be expected to do an whether the allowance covers it. (If not any extras are coming out of your pocket) Also consider that the car is commitment for the term of the agreement. Therefore, you are committed to this arrangement for whatever the term may be (two, three, maybe four years?) and cannot walk away if the job doesn't work out. Are you comfortable with that?

pcarsley

I have a similar problem where my soon to be new employer offers up to £400 per month dependent upon mileage to lease a car. I have a poor credit rating which I am currently trying to resolve, and was declined for personal contract hire but offered several approvals for hire purchase. I found this odd as PCH does not involve any borrowing.
As for the company car, it's not the perk everybody thinks it is! My current job provides a company car and fuel card which includes personal use. The catch is that the tax liability is quite heavy, around £400 per month on top of income tax & NI. Unless you drive a lot outside of work, it's not worth it and as I point out to friends, you can spend cash on whatever you like, whereas the car cannot pay for anything.

DCFC79

pcarsley wrote: »

I have a similar problem where my soon to be new employer offers up to £400 per month dependent upon mileage to lease a car. I have a poor credit rating which I am currently trying to resolve, and was declined for personal contract hire but offered several approvals for hire purchase. I found this odd as PCH does not involve any borrowing.
As for the company car, it's not the perk everybody thinks it is! My current job provides a company car and fuel card which includes personal use. The catch is that the tax liability is quite heavy, around £400 per month on top of income tax & NI. Unless you drive a lot outside of work, it's not worth it and as I point out to friends, you can spend cash on whatever you like, whereas the car cannot pay for anything.

Its your history your trying to resolve, the credit rating no 1 sees except you. Do the other 2 agencies rate you as poor ?