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

IIKazzII

Thanks guys, no I am not in financial difficulty, as said in the council tax thread, I am paying that off at what some may consider a substantial amount £100 a week, and it's done in 6 - 7 more weeks. I am also disabled as is my son, hence the higher income of (it works out more like £2750 a month than £3k).

I've never been a saver, hence having no savings, I went bankrupt about 15 years ago due to health etc, since then I've never been able to get credit, despite what people say your not clear after 5 years discharge, it stays with you forever. I have a credit builder Marbles card which is great, but it takes an age to build the rating back up.

Most of the places I looked don't require a deposit at all, the CVS place wanted £600, I could save that within a couple of weeks to put down, but after friends advice and suggestions here I am now thinking it's a waste of time to lease. On with the searching!

bertiewhite

Don't you still need to pass a credit check when leasing a vehicle anyway?

motorguy

IIKazzII wrote: »

Thanks guys, no I am not in financial difficulty, as said in the council tax thread, I am paying that off at what some may consider a substantial amount £100 a week, and it's done in 6 - 7 more weeks. I am also disabled as is my son, hence the higher income of (it works out more like £2750 a month than £3k).

I've never been a saver, hence having no savings, I went bankrupt about 15 years ago due to health etc, since then I've never been able to get credit, despite what people say your not clear after 5 years discharge, it stays with you forever. I have a credit builder Marbles card which is great, but it takes an age to build the rating back up.

Most of the places I looked don't require a deposit at all, the CVS place wanted £600, I could save that within a couple of weeks to put down, but after friends advice and suggestions here I am now thinking it's a waste of time to lease. On with the searching!

The unfortunate thing is, these places will charge you a fortune if they're going to take you on at all.

forgotmyname

bertiewhite wrote: »

Don't you still need to pass a credit check when leasing a vehicle anyway?

They will mainly check the ID and they will also want to see the OPs bank statements to see if they really can afford £200 a month.

Your bank statement will tell them more than just a credit search.

On top of that it wont be a new car but a used one, the website said a 2016 car, but what are the chances they will say their finances are worse than expected and then require a bigger deposit and more £ per month, and the car will be an older one?

mrmot

With your lack of driving experience, you'll be hard pushed finding a rental company that will rent a car to you.

RickRastardly

Save up and buy a cheapish car for about 1000 with 12months MOT. Wont be new, but most cars have been 4 or 5 Star Euro Ncap for the last 10 years if that's you're only concern with buying an older car. Besides if you're financial situation is a good as you say it is then in the 12Months while the banger has its MOT you could easily save up for a better car once you've finished paying off £100 p/w council tax rebates. that's 400 P/m X 12 = £4800 for a quite modern car that should last you for years.

Rain_Shadow

motorguy wrote: »

£600 ish would buy you a quite presentable car - I'd recommend a Ford Focus .

There are plenty out there of which this was the first I found.


http://www.autotrader.co.uk/classified/advert/201704094234681?maximum-mileage=70000&onesearchad=Used&onesearchad=Nearly%20New&onesearchad=New&make=FORD&model=FOCUS&sort=sponsored&postcode=w1a1aa&radius=1500&price-to=1000&advertising-location=at_cars&fuel-type=Petrol&page=1

macman

As suggested above, if you can afford £400 a month then you need only to save for 2.5 months to buy a reasonable runner outright for £1K. Much better than heaping up further debt by taking a loan which, given your poor credit, will be at penurious rates.
Your insurance will also be steep as a new driver (even a 'mature' one)-have you actually worked out all the overheads involved in running a car? You will also have no NCB to bring that cost down for now.