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Thread: Leasing a VXR

  
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    M1C VX's Avatar
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    Leasing a VXR

    I was interested in buying a VXR, but, my credit rating is dreadful
    when i was 18-20 i never paid anything, thought it was funny at the time

    i am now 26 and struggling to get credit for a car.

    so

    i thought i would ask a few companies about a personal lease
    does anyone lease a car at the moment (personal)
    what are the advantages and disadvantages
    cheers in advance
    What is cross posting? Is it when you get angry and post it on a forum?

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    Andy's Avatar
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    never had one but..

    advantages - no worrys for tax, insurance, service etc.

    disadvantages - it isnt yours and cant do anything to it,


    if you cant get finance it is difficult, might be better off staying with what you have until you can build your credit rating up,
    Drives - 08 Astra SRi XP 1.9CDTi 150

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    i thought you still had to pay for insurance
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    Live in the East Midlands?

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    alan hanson's Avatar
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    a friend of mine does something lik ethis im not too sure if you can do it on any car though, as mentioned above you cant do anything to it but if you got a vxr what would you want o do to it, major problem is you never actually own a car so really is like renting a house money down the drain

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    nasayr's Avatar
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    you have to pay for insurance, and on some deals you will pay for servicing etc...

    im sure you get credit checked for lease as its also classified as finance. best bet would be to speak to a leasing company to see what they can do for you.
    "Don't waste your time on jealousy. Sometimes you're ahead, sometimes you're behind. The race is long, and in the end it's only with yourself"

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    Phil B's Avatar
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    Quote Originally Posted by alan hanson View Post
    major problem is you never actually own a car so really is like renting a house money down the drain
    depends on the monthly lease cost really. If you buy a new car you will be losing a few hundred a month or so on it to depreciation anyway, so it may be no different financially.
    At least you can hand a lease car back without any hassle, rag the crap out of it, and dont cop servicing/repair bills if there are any.

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    Mark_W's Avatar
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    You still have to pay insurance and i belive it will be more than if you owned the car, mainly because you have no reason to look after it

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    Quote Originally Posted by Mark_W View Post
    You still have to pay insurance and i belive it will be more than if you owned the car, mainly because you have no reason to look after it
    Correct - you do have to insure it. Fully comphrensive too.
    No reason why it would be more than if you owned the car though?

    Finance is dealt with my a major lender, so typical credit checks would follow.
    Based on the current financial market, and your ppoor credit history - it could prove difficult.

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    Like Byron said, leasing agreements go through the same credit checks as Hire Purchase agreements so with bad credit you facy the same problems.

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    im also about to lease a vxr, 275pm for 2 years tax inc just got to insure it .. even allowed to slight modifications as long as returned to stock when i give it back

    only reason im leaseing is to free up money on sale of old coupe and get a house

    Regards
    DaveMark

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