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    • By Superseded 9th Aug 18, 2:47 PM
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    Superseded
    Car allowance with poor credit
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    • 9th Aug 18, 2:47 PM
    Car allowance with poor credit 9th Aug 18 at 2:47 PM
    OK, so I've taken a new job, which comes with a pay rise (yay), and a healthy car allowance (yay). There's an option for a company car, but tax wise, I'd be significantly better off with the allowance (I emphasise significant).

    I currently have a "poor" credit score according to Experian, but all payments etc from anything in the last 3 years have been on time, and the new job will help me eradicate old debt quite quickly I hope (3-6 months)

    There are some rules to the allowance, but I don't have to spend it all, and I don't plan to so. Not only is the tax better, but the difference is mine to keep.

    The rules are:
    4 doors,
    No more than 2-3 years old.
    Has to be same class as a 3 series, audi A4 etc. (as long as it doesnt look like i'm spending as little as possible i think i'll be ok)

    I feel like this will mean a lease, or contract hire, which I've never had before. I can't afford a deposit, but i believe I can go with 1 month deposit payment with most companies. monthly affordability will be easily covered by the allowance (including maintenance, insurance, car tax)

    I'm looking for some direction as I'm nervous I wont find anyone to "borrow" from with my credit file. is anyone in the same situation? are there any options for someone like me?
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