Purchase Car Hire

kinnell.martina

Just wondering if someone can help me out. I am wanting to get a car on PCH as soon as possible as my old car has now died. However we are due to complete on our new mortgage any day now. Are we in a position where we can go for the PCH without it doing any harm to our mortgage application. We are literally 9 tenths of the way. Any advice would be really appreciated!

foxy-stoat

Your better off hiring a car for a week or two and applying for new credit once you complete.

JP1978

Credit requirements for PCH (Lease) are no where near as strict as PCP / HP as the security is all in the car - they only need you to be 'good' financially for the depreciation of the car, which is basically what you are paying for (plus their profit) on the monthlies.

Speak to your broker.

Mind that unless you are very open minded on what car you want on a lease, you may have to wait for delivery, sometimes 6 to 9 months! Call a few lease brokers up, or even your local dealer and ask them at what stage do they do their credit check - I shall be honest in that I dont think that I was checked on my lease. I left £250 deposit and only handed over driving licence and ID when i collected the car. Got the £250 deposit back and drove away. The initial rental (the 6 out of the 6+35) was taken from my bank about 14 days after. This was Audi - all VAG dealers maybe the same.