Lease car/pcp post bankruptcy

WickedWitch123

Hi all

I'm 2 years post bankrupcy and am in desperate need of a new car. i have held out for as long as possible with my old jalopy but she's truly on her last legs now bless her. My last repair bill was more than the car is worth.

Does anyone have any advice on if it is possible to get a car via a lease or pcp scheme? I'm not after a brand new car but it does have to be fairly new as i travel for work.

I'm really hesitant about applying for credit but realistically i'm not going to have time to save enough money before she passes away! I have a good income of around £45k and could pull a deposit together.

Any advice?

Thanks all

WW

roughsea

i get the feeling you will be able to lease a car but with higher interest rates and larger deposit

TheGardener

I think your chances are slim TBH. Is there any chance of a partner or family member taking out the lease and you paying them? There are some companies that will deal with poor credit customers but the rates can be eye watering. Or - can you save up a about £700-£1000 and get another 2nd had car to keep you going?

WickedWitch123

Thanks for your replies - I know my options are limited for a while yet.

I did remember though that I can use my local credit union for a loan. They've been a life saver over the last few years.

Thanks again

WW

WickedWitch123

Hi all


I just wanted to post a quick update about replacing my car that I posted in January. I managed to get a car loan a few weeks ago and am now the proud owner of a mini cooper.


The finance deal is with Motonovo and the rate is 19% which I didn't think was too bad actually considering. I didn't have a deposit or a decent car to trade in (only got £100 for mine).


Just wanted to share.


WW