Van leasing, bad credit, can't prove income...help please!
Discussion
Hi all,
I ask on behalf of my BIL.
He's a good chap who hit hard times in March. He was laid off and since then both his credit score and his payments to CC companies have been late/not met/bad.
He has been offered a job that pays well, is steady and with a good firm, but they require him to have a van, new, leased with 20k miles a year possible.
He's looked everywhere and cannot find someone lease him a van.
Any ideas on the sub-prime leasing market for someone that cannot show and income and with bad credit? (he can get a copy of the job offer and the wage more than covers the lease of the van).
Thanks chaps, help me help him find a lease van... or other thoughts/suggestions welcome?!
I ask on behalf of my BIL.
He's a good chap who hit hard times in March. He was laid off and since then both his credit score and his payments to CC companies have been late/not met/bad.
He has been offered a job that pays well, is steady and with a good firm, but they require him to have a van, new, leased with 20k miles a year possible.
He's looked everywhere and cannot find someone lease him a van.
Any ideas on the sub-prime leasing market for someone that cannot show and income and with bad credit? (he can get a copy of the job offer and the wage more than covers the lease of the van).
Thanks chaps, help me help him find a lease van... or other thoughts/suggestions welcome?!
Everyone can fall on hard times, well done to him for getting through it.
There is bound to be some van equivalent of w*nga. But is there a family member who could maybe lease him a van in their name? It would help him get back on his feet if he wasn’t having to pay huge interest on top of the van costs. Surely van leasing or something is low risk, return the van if anything goes wrong, albeit with some admin fees or settlement figure.
There is bound to be some van equivalent of w*nga. But is there a family member who could maybe lease him a van in their name? It would help him get back on his feet if he wasn’t having to pay huge interest on top of the van costs. Surely van leasing or something is low risk, return the van if anything goes wrong, albeit with some admin fees or settlement figure.
The problem is that even if the job offer will cover the lease, he might not last a week in the job and then where is the lease company left then when he clearly has no assets or other income. Getting someone else to lease it for him is also foolish because even with the very best of intentions if this job falls through for some reason (or gets hit by a bus 2 weeks in) what then?
There almost certainly is someone who'll do it but they'll price the risk so it may put the repayments out of his reach. You'll need to go to a broker who'll start looking at tier 2/3 lenders for him (who you'll have never heard of), unfortunately I'm not familiar with vehicle financers as much as asset based lenders but I'm sure a quick google for bad credit van finance brokers or something like that will turn up loads.
There almost certainly is someone who'll do it but they'll price the risk so it may put the repayments out of his reach. You'll need to go to a broker who'll start looking at tier 2/3 lenders for him (who you'll have never heard of), unfortunately I'm not familiar with vehicle financers as much as asset based lenders but I'm sure a quick google for bad credit van finance brokers or something like that will turn up loads.
V8RX7 said:
I wouldn't consider leasing a car / van for a job that could easily fail.
Surely 90% of legitimate companies would provide a van ?
Most small/medium courier companies work in the same way.Surely 90% of legitimate companies would provide a van ?
Why lease directly when you can get your drivers to do it?
Or else they charge the earth to lease one of their vans.
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