Are you eligible for personal leasing finance?
Thinking of a contract hire? Considering a personal lease for a car? One of the first things you need to consider is – are you ‘eligible for personal leasing finance?’ which basically means – when the finance company runs its credit check as part of the process – will you ‘pass’ it and be able to lease a car with us.
Finance Check
It makes sense that our funders – i.e. the people that cover the cost of your car while you pay them back – will want to know that you can afford to make the repayments.
They’re wanting to make sure that not only can you afford the repayments but that you have a good history of making regular payments on time for any other financial agreements, for example credit card, rent/mortgage repayments etc so that they don’t have to spend time chasing you for their money.
At this point – it is worth noting that most funders ask for a ‘good to excellent‘ credit score in order to be accepted for vehicle finance. However, we must caveat that by saying we do work with some lenders who will offer finance to those that have a 'poor' credit rating so do please contact us if this applies to you.
So, before you get too far along in the process – why not check out this handy tool that will allow you to check your chances of being approved for finance without impacting your official credit score. Just simply answer a few quick questions and we will tell you instantly what your chances of securing finance are likely to be.
