Lease...will i get finance
Discussion
Evening all,
Im currently looking at leasing a new car for myself but as im semi-retired,self-employed with no fixed income (invoice as and when i work,few months a year),no mortgage (paid off few yrs ago),no credit cards or any other finance but decent savings and so im told by my financial advisor at my bank ("ive a good enough credit score to get a better interest rate than the employees here") will i struggle to get the credit to lease....
I spoke to a couple of leasing companies and they asked me to fill in all the forms and see but i thought id ask before getting excited about my new lease car.I dont want to buy outright as it took many years to save what i have and with the low miles i do leasing looks like my best option.
thanks
Im currently looking at leasing a new car for myself but as im semi-retired,self-employed with no fixed income (invoice as and when i work,few months a year),no mortgage (paid off few yrs ago),no credit cards or any other finance but decent savings and so im told by my financial advisor at my bank ("ive a good enough credit score to get a better interest rate than the employees here") will i struggle to get the credit to lease....
I spoke to a couple of leasing companies and they asked me to fill in all the forms and see but i thought id ask before getting excited about my new lease car.I dont want to buy outright as it took many years to save what i have and with the low miles i do leasing looks like my best option.
thanks
I think lease finance is relatively easy to get. If they are struggling to make the figures work maybe suggest a higher initial. That may ease things.
I did consider paying for mine in full up front but decided it was better to 'monthly' in the end. not sure what the process is or if it is at all possible.
I did consider paying for mine in full up front but decided it was better to 'monthly' in the end. not sure what the process is or if it is at all possible.
Somebody might own a million pound house outright, (Maybe in London) but only have a pension of £15,000 pa. (Extreme example)
The house is no use to the leasing company if you fall behind with their monthly repayments.
If you can put in a decent inital payment, rather than a few hundred, that should help.
Good luck.
The house is no use to the leasing company if you fall behind with their monthly repayments.
If you can put in a decent inital payment, rather than a few hundred, that should help.
Good luck.
Unfortunately 592 out of 700 is actually fairly low when applying for credit if you want anything like a decent rate...but as others have said, the finance won't be offered based on these scores. The company will do a credit check to asses your payment history, disposable income etc. It's not as simple as having a good or high score.
kentlad said:
Unfortunately 592 out of 700 is actually fairly low when applying for credit if you want anything like a decent rate...but as others have said, the finance won't be offered based on these scores. The company will do a credit check to asses your payment history, disposable income etc. It's not as simple as having a good or high score.
Really, checking on Clearscore the average for the UK is 380. my local area average is 420. I am well above that, but not at 592 and I have never had an issue with credit at all.So, on the face of it, well to me anyway, 592 looks very good. Am I reading this wrong?
750turbo said:
Really, checking on Clearscore the average for the UK is 380. my local area average is 420. I am well above that, but not at 592 and I have never had an issue with credit at all.
So, on the face of it, well to me anyway, 592 looks very good. Am I reading this wrong?
592 is very good.So, on the face of it, well to me anyway, 592 looks very good. Am I reading this wrong?
750turbo said:
Really, checking on Clearscore the average for the UK is 380. my local area average is 420. I am well above that, but not at 592 and I have never had an issue with credit at all.
So, on the face of it, well to me anyway, 592 looks very good. Am I reading this wrong?
I'm 500 and it says that's very good... So, on the face of it, well to me anyway, 592 looks very good. Am I reading this wrong?
no credit issues
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