Car lease advice

timfry · 20 February 2019 at 7:25PM

Hi, I am looking at getting a car lease. We have been through tough times before and have been clear of debt for a while.
We are looking at a car lease and do not know if myself or my wife should apply.

My situation is my experian score is 999, I have one credit card with a small amount that I clear off by direct debit every month, however I am self employed but earn double my wife.

My wife is employed, has a lower credit score of 675, it was over 800, but made lower this weekend (by 147) by applying for a credit card ( accepted) in order to try and build up credit.

Which would be the best one to go for it myself or my wife? I dont want to do the wrong one and scupper our chances. Any advice would be great Thank you

[Deleted User] · 20 February 2019 at 7:28PM

Unfortunately your credit scores are irrelevant numbers, given by people who refuse to lend money.

What are your credit histories likes?
What is your income?
What available credit do you have?
How much do you want to borrow?
Have you tried an eligibility checker?

timfry · 20 February 2019 at 7:33PM

Hi, credit history is fine.
Its a car lease, so cant check for eligibility.
Understand about the score not being a certain, more concerned about self employed v's employed , I suppose.

[Deleted User] · 20 February 2019 at 7:38PM

Self employment may be an issue, but lack of credit history appears to be a bigger problem.

Having said that, car finance is easier to get as it's secured on the vehicle.

I would try an eligibility checker for a standard loan - and see what result you get. If it's positive, you should be fine with a lease. If not, drop the amount and repeat.

Car lease advice

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