Contractor Car Lease - Bad credit.

[paulatb]

Hi folks,

Hoping someone can point me in the right direction here.

I am a free lance IT contractor living on my own and I have just started a new LTD company. I have a joined loan still outstanding with an ex partner and in Scotlaw if I pay my half I am still liable for the rest also.

I refuse to pay on this basis.

I'm looking for a car leasing deal personal of contract hire however everywhere I have went seems to be expensive because of my circumstances. I also wondered if there are any companies that do 'Pre-Pay Leasing' deals where I could pay 1-2 years up front of the deal as I have spare cash etc.

I am hoping someone can help me here.

Kind Regards,

Paul

 

[bovine]

If you have the cash to pay up to 2 years rental as a deposit, why not just buy a decent second hand car and run that for a couple of years?

Get something current shape, stick a private plate on it and no one knows how old it is.

Obviously does depend on the car you want though.

And I do apologise for not addressing the original question, but thought it might be useful to suggest an alternative.

 

[paulatb]

If you have the cash to pay up to 2 years rental as a deposit, why not just buy a decent second hand car and run that for a couple of years?

Get something current shape, stick a private plate on it and no one knows how old it is.

Obviously does depend on the car you want though.

And I do apologise for not addressing the original question, but thought it might be useful to suggest an alternative.

Yeah - That's what I was going to do; however I want to explore all options.

Work is good just now, however I would prefer something new'ish.

Thanks for your advise anyways..

Anyone else?

 

[Lease4Less]

Several problems here.

You are a new start company. Therfore it is going to be very difficult to get any finance company to underwrite it.

You also have stated that your credit is not the best. So again we have the problem of getting you underwritten.

It doesn't matter what size of deposit you want to put down, if you have bad credit you will not be offered prime rates.

There are a number of finance companies that can help you, but you will pay more for the vehicle.

If you have spare cash I would agree with Bovine, get yourself a quality used vehicle, rebuild your credit rating and then get a new car.

And get the loan problem with your ex sorted out otherwise it wil be years before your credit is repaired.

 

[Angela Macready]

Sorry to be the bearer of bad news but if the loan has your name on it, you are jointly liable for the outstanding amount whether you have paid your half or not. That means that if they take action to recover the loan, judgment will be against you as well as your ex.

Just make sure you don't let it get so far as judgment against you otherwise you will be in real trouble. Speak to your ex now to try to resolve the issue. Perhaps she will agree to taking your name off the loan (although it's unlikely the company that loaned you the money will accept)?

Good luck

 

[PPI2909]

Paulatb

Try here, they are really good

good luck

http://www.msg-nonstatuscontracthire.co.uk/

 

[Stuartthomas]

paying off all the money would be your best bet...and i think you should do the same..