Leasing a car as a student teacher

lj54321

Hi,

I'm currently a student teacher thinking about leasing a car, with a question about applying for the finance for the lease to go through.

When I was applying for a credit card a few months ago I got told not to because the bursary of 25 grand is not classed as a salary and so the credit would not be approved. Is this different when leasing a car? I can provide bank statements and university HR emails to prove that £2000 goes into my bank every month, but I am technically unemployed.

I do have a job lined up for September and so I could wait until then, but my MOT is due in March and the new VED coming in April will cost me an extra £400 across a 3 year lease if I get the car in September.

I could just apply for a lease now and if it isn't accepted go for it in September anyway, however, if the finance for the lease isn't approved will this affect a future application like not being approved credit would?

Thanks for any advice/help in advance.

lj

Ebe_Scrooge

Is leasing a new car really the wisest option ? Given that you currently have a car ( at least I assume so, since you mention the upcoming MOT ), given that you do not have a job yet ( the "promised" job may not materialise ), I'd advise against taking on more debt. The monthly payments on a lease may look attractive on paper, but it's still way more expensive than running an older car that you own outright.

andrewf75

As above, don't do it.

This bubble is going to burst in the same way the sub-prime mortgages caused the global financial crisis

neilmcl

andrewf75 wrote: »

As above, don't do it.

This bubble is going to burst in the same way the sub-prime mortgages caused the global financial crisis

If you say so.