How does a car lease appear on credit file?

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  • chanz4
    chanz4 Posts: 10,895 Forumite
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    100% does show on the reports, for the full amount
    Don't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.
  • GingerBob_3
    GingerBob_3 Posts: 3,659 Forumite
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    Thrugelmir wrote: »
    The person renting the car is responsible for it. That's the bottom line. Irrespective of the amount they are liable to pay. Taking a one sided view leads one straight up dead end alleys sometimes.


    So how come holiday car rentals and the like are not reported?
  • regency_man
    regency_man Posts: 274 Forumite
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    I think you have to be careful about what is true 'leasing' and other financial instruments used to sell cars which people think are leases.

    From my experience, a 'true lease' where you are effectively long-term renting the car does NOT show up on the credit report. However my 'PCP' arrangement DOES show up on my credit file with the full value of the car as the loan amount.
  • Barclayloan_query
    Barclayloan_query Posts: 70 Forumite
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    regency_man wrote: »
    I think you have to be careful about what is true 'leasing' and other financial instruments used to sell cars which people think are leases.

    From my experience, a 'true lease' where you are effectively long-term renting the car does NOT show up on the credit report. However my 'PCP' arrangement DOES show up on my credit file with the full value of the car as the loan amount.

    My car is 100% a lease vehicle - contract hire, not PCP or any kind of loan. There is no option to buy the car at the end of the 24 months. It's a Citroen leased directly from Citroen themselves so not a random back street company getting it wrong.

    I'm glad I posted on this thread though as I've just checked on my Equifax report and it's showing back as the value of the car again, despite them amending it to show the outstanding payments instead when I complained.
  • zippy1973
    zippy1973 Posts: 297 Forumite
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    I took out a PCH in September and not a thing is showing on my credit file which I found strange
  • SeanG79
    SeanG79 Posts: 977 Forumite
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    Leaseplan via Gateway 2 Lease, didn't show on credit reports for contract hire, so definitely depends on the provider/funder
  • debtfreein2008
    debtfreein2008 Posts: 72 Forumite
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    I have a car lease through Audi and this appears on my credit file. It started in Oct and every month they report but the balance remains the same!? I'm going to call them today. I have no issue with them reporting it, it is a form of credit but the balance should reduce, no?
  • GingerBob_3
    GingerBob_3 Posts: 3,659 Forumite
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    debtfreein2008 wrote: »
    I have a car lease through Audi and this appears on my credit file. It started in Oct and every month they report but the balance remains the same!? I'm going to call them today. I have no issue with them reporting it, it is a form of credit but the balance should reduce, no?


    But arguably it isn't a form of credit. You are renting/hiring/leasing the vehicle and it gets returned at the end of the contract. You are not borrowing money or obtaining goods on credit.
  • HSlade
    HSlade Posts: 28 Forumite
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    I have a personal contract plan through Barclays Partner Finance and it shows the full amount of the car, including the optional final payment at the end of term. The monthly payments decrease and it actually appears on my credit file as hire purchase, although the contract I have with Barclays says otherwise.
  • Spale_2
    Spale_2 Posts: 1 Newbie
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    Sorry guys, just a quick questions for the ones who lease cars on regular bases...

    We had one that appeard on my file, ended in July and since has disappeared.
    The new car on lease is on, but the old one doesn't appear in settled accounts.

    Anyone has more experiance with this?
    Thanks
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