Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • Click_safe91
    • By Click_safe91 19th Jun 19, 9:19 PM
    • 11Posts
    • 1Thanks
    BR & Company Vehicle
    • #1
    • 19th Jun 19, 9:19 PM
    BR & Company Vehicle 19th Jun 19 at 9:19 PM
    Hi all,

    I have a question for you, which may sound ridiculous, however youve never let me down before. Im in month 11 of my BR. Ive just been given a promotion at work which now entitles me to a company vehicle. Ive spoken to my OR whos basically said that I can continue down that route, however, the ongoing vehicle maintenances budget currently allocated will be changed to 0, which is fine.

    My question relates to the company vehicle itself. I know that the company vehicle scheme runs as a fixed loan sum finance agreement. Its an 18 month agreement which I basically make payments of X amount for 4 months. After 4 months/4,000 miles my company pays off and ends the finance agreement, and provide me with a new vehicle agreement and.. youve guessed it, another agreement for the next company car. Cars change every 4 months.

    My question, sorry its been a long thread, As my BR will show on my credit file for 6 years, will it make it difficult for me to get the company vehicle (finance agreement) or will the fact its a company vehicle alleviate any concerns?

    Any help, as usual, would be much appreciate.
Page 1
    • debt doctor
    • By debt doctor 23rd Jun 19, 10:54 AM
    • 4,485 Posts
    • 6,171 Thanks
    debt doctor
    • #2
    • 23rd Jun 19, 10:54 AM
    • #2
    • 23rd Jun 19, 10:54 AM

    Is it your company who are obtaining the finance and they take money from your wages or is it you obtaining the finance?

    If it is the company then I see no issue, but if it is you then I would imagine that your poor credit rating will cause a real issue and as you are still currently bankrupt (just) then at least on the 1st agreement you would have to declare your undischarged bankruptcy status as you will be borrowing more than 500.

    Debt Doctor, Debt caseworker, Citizens' Advice Bureau .
    Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

70Posts Today

1,657Users online

Martin's Twitter