You have always dreamt of getting a car, but you are an employee who works from home and does part-time gigs. You’ve always wanted to try getting a car lease, but you always take a step back because you are pretty sure that you are going to be denied. Does this scenario sound familiar to you? If so, then you are reading the right article.
Today, we will tackle the scenario presented earlier, and we will answer all of your questions. Here are some of the things that you should do and ask when you are a part time employee that’s also looking to buy a car.
1. Try Applying for a Personal Loan. You can only borrow a small amount when applying for a personal loan but honestly, a small amount is all you need. You do not have to buy an expensive vehicle, and a small one would do, especially if you travel alone most of the time. Take note that personal loans are typically unsecured though, so interest rates may be higher compared to traditionally secured car loans. You should also avoid applying for too many loans at a time, as every loan application is being recorded on your credit history, and declines can act as a red flag to other lenders.
2. Choose the Right Car Lease Company. Some of the car lease companies in Australia are wary of part time and casual workers, so you better choose one that welcomes everyone, even those with bad credit or part time jobs. Alpha Car Finance offers a car lease in Brisbane and other parts of Australia. We believe that every Australian deserves a second chance, even those with bad credit. We also allow part time and casual workers to get a car lease, as we believe that everyone must get a fair shot at getting one.
3. See if You Can Find a Loan Co-Signer. A loan guarantor can either be a friend or family, one that owes you big time. You can ask them to co-sign the papers for you, but you have to be extremely responsible. A co-signer is one that would take your place and pay the lease once you have decided that you cannot pay it any longer. A co-signer, of course, must be one that you trust and trusts you in return, as this is not a simple and easy favour to ask. Talk to them before going into the venture to avoid any distress in the future.
4. Put a Large Deposit In. This way, lenders will feel secure about your car lease - so if ever you default on the lease, they have fewer costs to recover.
Good luck on your application, and we will be expecting your call soon!