Leasing a car

[Julie]

Hi all,

We've been looking into leasing a car and are waiting for our IP to give the go ahead on the monthly payments.

However, we will need to pay 3 x payments as a NON refundable deposit...does anyone know if this normal? This will be approx £1500 and I'm not comfortable about paying this for nothing -if you know what I mean? Furthermore I don't know how we'll fund that type of payment.[:(]

Any help gratefully received [:)] xx

[LoneRanger]

Alot of the companies that provide leasing for people will with adverse credit will expect a few months deposit up front.

If this is 3 X payments then is that just not your first 3 payments in advance and then you will just continue to pay monthly?

[Julie]

Hi Steve,

I thought thats how it would have worked out but just had confirmation that it doesn't work that way. Have to pay 48 months plus the non refundable deposit.

Just noticed your new footnote - have you got a new job???

xx

[LoneRanger]

Well its a tempory contract into 2009, only curry's home delivery but its full time regular work which is the main thing. I hate the hours and the money is rubbish....but its work.

So are they saying that you pay this 3 months and then start making monthly payments straight away? Seems a bit steeep but maybe thats how they work then. Have never leased a car so don't really know, but how do they expect people to find that kind of mney!!

[MelanieGiles]

This is quite normal Julie - it is usual to pay three instalments as a depost and then the rest on an ongoing basis. I think it is supposed to keep the car's depreciation in line with it's value.

[Julie]

Thanks both,

Well we've taken the plunge and accepted the deal. To be honest the chap we're dealing with is really nice and extremely helpful.... so thanks for pointing us in his direction Melanie.

At least we know hubby can get to and from work safely.

Steve - I'm glad you've found something, it may not be the job of your dreams but its money come in. [:)]

xx

[kabby3]

Heh Julie which leasing company did you use ??

Karen x

[Julie]

Hi Karen,

Melanie gave us the name of someone she knew. We did "shop" around but a lot of the other companies couldn't provide a car to the spec we needed at a price we were comfortable with.

xx

[PoorbutHappy]

Someone pointed out "Long Term Rentals" too sometime back. Seemed to be an alternative (with out a big deposit)

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=16047

[Julie]

Thanks Poorbuthappy,

I did refer to the posting and contacted bellhire but they couldn't meet the criteria of car we needed and the monthly payments were far higher.