Leasing for Student ?

smallzoo2

Is it possible for my son who is a student and works part-time as a carer to get a small car on lease or is it either impossible or too expensive. He has to travel sometimes an hour to a client so buses etc are very difficult. Taxis are working out very expensive. He doesnt want to give up the job as he enjoys it so much.
Probably a silly question with a flat no answer but thought I would ask

[Deleted User]

smallzoo2 said:

Is it possible for my son who is a student and works part-time as a carer to get a small car on lease or is it either impossible or too expensive. He has to travel sometimes an hour to a client so buses etc are very difficult. Taxis are working out very expensive. He doesnt want to give up the job as he enjoys it so much.
Probably a silly question with a flat no answer but thought I would ask

It probably is possible but the rates would be horrific and he'd be taking out credit to purchase at the bottom end of the car market.  If he has/can save £500-£1000 he could get a car that gets him from A to B.  If he can't save that much then he probably couldn't afford a car on finance anyway.

smallzoo2

Thanks for that but when we looked into that insurance was horrendous on older used cars , around £2500 a year even for a 1.2 engine.
I used to remember a scheme for young drivers including insurance but maybe my memory is playing me tricks
cheers

macman

The insurance isn't going to be any less on a new car then, leased or otherwise. Most of the  risk for a young driver is in covering potential 3rd party claims, not the vehicle.
You can lease a Fiat 500 for about £114pm, 3 year deal, 5k mileage (just a random example I pulled up from the carwow site). 
The problem is that you give no indication of your son's ability to afford to service the lease, let alone the other overheads of running a car: mainly insurance, fuel and servicing. Does he have the income from his part-time work to do so?
Remember that a lease is a cast-iron deal: you can't get out of it early. Once you sign you are committed for the full term.

MallyGirl

smallzoo2 said:

Thanks for that but when we looked into that insurance was horrendous on older used cars , around £2500 a year even for a 1.2 engine.
I used to remember a scheme for young drivers including insurance but maybe my memory is playing me tricks
cheers

I think you need to shop around a bit. I know it depends on your postcode but ours is not a cheap one and my daughter's insurance on a vw polo was £850 at 17 dropping to £550 at 18 - with a black box but that has not been an issue and can come out for the next renewal..