Car finance

Becca1261

Hello,

my 12 month DRO is due to end in July. My car is on its last legs and I am hoping to get one on lease when the 12 months is up. My credit rating will be shocking. Does anyone know if it will be possible to get a lease car with bad credit?

many thanks

sourcrates

Probably not, as your file will be full of defaults for the next 5 years.

Try and save as much as you can and buy something cheap for cash.

ManyWays

Car leasing normally requires an excellent credit record. You will be able to get Hire Purchase from the likes of Moneybarn at 40% interest or more. If you have less than £75 a month spare income it is unlikely you could afford this unless your situation is going to improve a lot. 
Possibly the best advice is to work out what this would cost and then try to limp along with your current car for as along as possible saving that amount up each month. Then when you have to buy you have money saved up so you borrow less and you also know how affordable payments of 3180 a month or whatever would be in practice.