Lease...will i get finance

[noway]

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

[Sarnie]

Have you checked what Experian & Equifax are saying about you?

[Rick101]

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.

[noway]

Sarnie said:

Have you checked what Experian & Equifax are saying about you?

Experian wanted my credit card details which i dont have,havnt tried equifax yet...

[Sarnie]

noway said:

Experian wanted my credit card details which i dont have,havnt tried equifax yet...

Well, whats detailed on Experian & Equifax is exactly what the lender will see..........

[Wacky Racer]

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.

[noway]

Thanks for the replys so far,got my credit score which is 592 out of 700 which means zilch to me but id say thats fairly good.

[Sarnie]

noway said:

Thanks for the replys so far,got my credit score which is 592 out of 700 which means zilch to me but id say thats fairly good.

It's not higher because it sounds like you have a lack of credit history to build it up higher....

[Fore Left]

Sarnie said:

noway said:

Thanks for the replys so far,got my credit score which is 592 out of 700 which means zilch to me but id say thats fairly good.

It's not higher because it sounds like you have a lack of credit history to build it up higher....

Higher Seems pretty high to me

[TheAngryDog]

credit score numbers provided by the credit reference agencies are fairly meaningless. The finance companies do not use this score (or even see it). They all have their own Criteria for offering finance.

[kentlad]

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.

[750turbo]

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?

[Regiment]

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.

[johnwilliams77]

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...
no credit issues