New Driver - Can't Get A Car - Lease?

IIKazzII

Hiya guys, I just passed my driving test so now need a car. We are a family with 3 young children, if not for that fact I'd be happy to go buy a £300 rust bucket, but we need something reliable, safe and decent. I went bankrupt 10 years ago, and even though discharged, I still can't get finance. I am also on disability so don't work. I tried with several no nonsense reputable companies (Concept Cars etc) and while they are willing to back me on finance, the pattern is they all want a Guarantor, and as far fetched as it may seem, there is literally nobody I know to ask. I don't have any savings and it would take me a good few months to save for a car within our requirements. If not longer.

A friend recommended leasing a car. Is this a viable option? Or ridiculous? I contacted a company called CVS who have said after looking at my details they are more than happy to provide me with a Ford Focus if I pay £600 up front then about £190 a month for 2 years, at which point I hand the car back, or renew the lease and possibly get a new car.

This seems to be my only option for a car, it's either this, or wait till after Xmas to buy something decent, by which time I'll likely need refresher lessons. Opinions?

Retrogamer

I'd wait until the end of the year and take some refresher lessons personally.

AndyMc.....

Do you qualify for a motability car?

http://www.motability.co.uk

missile

The interest charges on a bank loan will be cheaper ............. if you can get one?

deaston

This might be a stupid idea, but could you just rent one when you need it?

IIKazzII

I can't get a bank loan and don't qualify for motobility. I could rent one when needed but with the kids ideally I'd need one all the time here.

martinthebandit

If you can't, or haven't managed to save anything how are you going to pay back a loan?

forgotmyname

Can you afford £600 deposit and £190 a month + insurance and servicing costs.

If you can afford £600 deposit you could get a car thats not a rust bucket, especially if looking at a focus anyway.

Concept are not willing to give you finance, they are willing to give your guarantor finance.

I presume you have zero no claims so whats the insurance goint to be like?

Tiddlywinks

martinthebandit wrote: »

If you can't, or haven't managed to save anything how are you going to pay back a loan?

^^^ This.

IIKazzII wrote: »

Hiya guys, I just passed my driving test so now need a car. We are a family with 3 young children, if not for that fact I'd be happy to go buy a £300 rust bucket, but we need something reliable, safe and decent. I went bankrupt 10 years ago, and even though discharged, I still can't get finance. I am also on disability so don't work. I tried with several no nonsense reputable companies (Concept Cars etc) and while they are willing to back me on finance, the pattern is they all want a Guarantor, and as far fetched as it may seem, there is literally nobody I know to ask. I don't have any savings and it would take me a good few months to save for a car within our requirements. If not longer.

A friend recommended leasing a car. Is this a viable option? Or ridiculous? I contacted a company called CVS who have said after looking at my details they are more than happy to provide me with a Ford Focus if I pay £600 up front then about £190 a month for 2 years, at which point I hand the car back, or renew the lease and possibly get a new car.

This seems to be my only option for a car, it's either this, or wait till after Xmas to buy something decent, by which time I'll likely need refresher lessons. Opinions?

Can you really afford the £190 per month? You'll also have fuel and insurance on top of that too.

If you haven't managed to save anything to date then you may well be overestimating your ability to keep up the payments.

How will you pay for the insurance? As a new driver this won't be cheap.

We all have to cut our cloth according to our means... a brutal fact of life.

You really need to be clear about your budget before making a very expensive mistake.

My opinion? It is very rare for a car to be an absolute must-have... for most it's a nice-to-have. You've managed without one this far... keep on managing without for the next 12 months whilst saving £200 a month (the cost of the lease) and then you'll have £2,400 to spend. Plus this will show you that you can afford the repayments.

deaston

IIKazzII wrote: »

I can't get a bank loan and don't qualify for motobility. I could rent one when needed but with the kids ideally I'd need one all the time here.

"Ideally" I'd have a Bentley and a chauffeur. Sometimes we need to live to within our means. You could rent one when you need a car and the rest of the time walk/cycle/get the bus/train.

When I couldn't afford a car I just rented it when I needed it and quickly built-up quite a good relationship with my local Hertz. I'd often get a car way above the spec I'd booked and it works out a lot cheaper than owning one (with the depreciation, insurance etc.) and just having it sit on the drive most of the time.

Tiddlywinks

OP - Just seen your other posts today on another board:

IIKazzII wrote: »

Hiya guys. To cut a long story shortish, we got behind on our council tax, we setup a payment plan with the council and paid a set amount every month. My misses was working at the time. She quit work sometime after and went onto benefits for awhile, she then went back to work, quit a year after when our twins were born etc etc, basically due to a mix up with the benefits, and already being in arrears she was told she owed 3 years council tax, she kicked off because it was their mix up, but on them showing proof, we did owe the money. So she setup another payment plan. My son is disabled, and around October last year he was going through a rough time, in the chaos my misses missed a payment, and it was passed onto Rossendales Bailiffs. We did owe the money, so fair enough.

We got a letter from them initially. I called the agent the moment I read the letter to stop goods being taken. Agent said they was in the area and would pop round to discuss in detail. The agent ensured they were not the collection team, just an enforcement officer which is the first stage of the process. She came and I let her in (I didn't have anything to hide, and I DID owe this money). I was respectful of her job and the debt was for £2100, she asked for a £500 payment, I only had £200 in my bank, I explained what had happened and offered her the money. She said it was too low but due to being decent with her she would accept it and speak to head office if I could pay a weekly amount. I offered her £100 a week as I want this debt clear asap. She accepted and all was well.

Every week I contact her and pay £100 over the phone. I am given reference numbers for every payment and got confirmation with the council this is where the debt lies now (Rossendales). This is where it gets weird. I know I owe this money but during one of the phone calls, she told me the current year (2016 at the time) has been added to the debt. I contacted the council and they confirmed this. She said more fee's would be incurred.

Now initially there was 3 council tax debts (3 years) I was charged £75 fee for each one, and £235 fee for her visit. She told me the 4th debt which had been added had fee's of £310. Bearing in mind she told me about this new addition over the phone. I never had a letter regarding this, and only ever saw this woman back in October, once I have seen her, nobody from Rossendales has ever been back. On further reading online it seems the £75 is a Bailiff fee, and the £235 is a callout fee, but she never came out again for the newly added debt. Is she right to charge this £235?

I asked her about it on the phone, and she said "well I told you on the phone, I can either come to your house to explain the new debt, or just tell you over the phone, either way it's £235 fee" If that's the cae I'll pay it, but wanted to check, as £235 is £235!

There are more important things to spend your money on than a car....