FAQs

Your Questions Answered

01342 837 110  

We have put together the most frequently asked questions from our customers, if you cannot find the answer to your question here simply get in touch, we are always happy to help


 

Application and Acceptance FAQs

We are unable to guarantee every application but in truth no company can, however we have approximately an 85% acceptance rate upon all the required documentation.

Yes, if you are unable to show affordability you can have a family member or partner go on your leasing agreement contract with you in order to support your application. You can also lease a car for someone else.

Once you have been accepted you will be required to pay your initial (first) payment, this would have been agreed during the acceptance process. There are no deposits paid at CVS Ltd we only require your initial payment.

Yes, you would need to apply as a joint application.

Once we have received all your required documentation we should have an answer for you within 2 working days, the rest is dependant on you paying the initial payment and us sourcing and purchasing your car. Your car will take 10 working days from the day your initial payment is made to be delivered. However we will do our very best to get the vehicle to you sooner.

Yes, there are many households who do have multiple leased cars in one persons name.

Having bad credit can make it difficult to get car finance through a mainstream car leaser. However CVS do things differently and as long as you can demonstrate you can afford the lease we can help.

Once you have completed your application for personal or business contract hire, we will ask you to supply some supporting documentation which is usually:

Proof of Identification – Copy of your valid driver’s licence

Proof of Income – Pay slips and bank statements for the last 3 months. If self-employed instead of pay slips please provide your
HMRC SA302 form confirming your latest tax calculation

Proof of Address – You can verify your address by providing a UK utility bill (gas, electricity, water, telephone landline) issued within 3 months. The name and address on the bill must match those in the lease application.

We only accept customers with bad credit. So you can apply for a lease if you have an IVA, CCJ, are in a debt management plan or have a poor credit rating. As long as you can demonstrate you can afford the monthly payments we can help.

We welcome customers with individual voluntary arrangements (IVAs). We look at your current financial situation and whether you can afford the payments.

We welcome customers who are bankrupt or who have been discharged from bankruptcy. We look at your current financial situation and whether you can afford the payments.

We welcome customers with county court judgements (CCJs). We look at your current financial situation and whether you can afford the payments.

We welcome customers with county court judgements (CCJs). We look at your current financial situation and whether you can afford the payments.

If you can satisfy 2 key requirements then you qualify to lease a car:

  1. Are you traceable? What does traceable mean? It is not simply a question of whether you are on the electoral roll. It helps, but we will not discount an individual if they are not on the electoral roll. We consider a number of other issues such as how long you have been living in your home (you do not need to own it) and how long you have been in your current employment/self-employment.
  2. Can you afford the payments?
    We review your last three months bank statements to assess whether you are able to afford the monthly payments. We do not use any credit scoring methods.
Do I qualify to lease a car from CVS

have been in your present employment/self employment

You will be required to sign and send back your car leasing contract, which will be sent to you by post. 

Then you will need to pay the agreed initial payment and the one-off administration fee.

Once we have received your signed contract, and your initial payment is cleared funds we will then begin to source your car. 

A credit check is required to comply with the FCA and anti-fraud regulations. We only perform a credit check once we have pre-approved your application. The credit check is used simply to confirm your address, and we are not looking at your credit score.

Business Leasing FAQs

If your company is a Limited Liability Partnership (LLP), PLC, Partnership, Limited Company, or you are self-employed you can lease a car through your business.

Business contract hire (BCH) is another name for business car leasing. You pay an initial lease payment and then make fixed monthly payments for the length of the lease. Simply return the vehicle(s) at the end of the lease.

Business leasing, or business contract hire (BCH) allows you to rent a car or van, or a full fleet, for an agreed time – usually 3 years. Once you have paid the initial payment you will make fixed monthly payments for the lease term. At the end of the lease simply return the vehicle(s). Whether you are a sole trader, PLC or a new business we can help.  We can even help you to design your in-house employer benefit scheme. Our advisers can help you to design the best solution for you and your business.

If your business is VAT-registered you can reclaim 50% of the VAT on the monthly lease payments, or 100% if the car is used purely for work. In addition you can claim back VAT on maintenance costs.

Delivery FAQs

You have the option to come and collect the car, or we can arrange delivery. Delivery is free within 25 miles. If you choose to collect we can pick you up from Edenbridge or Lingfield train stations or Gatwick airport.

End of Lease FAQs

It is your responsibility to return the vehicle to the offices of Compass Vehicle Services at your own expense between Monday and Friday, 9am to 5pm.

Yes do please return the vehicle clean. This helps us appraise the vehicle accurately for any damage or wear and tear, and reduces the likelihood of disputes later.

We are happy to renew your motor vehicle within the last couple of months of your contract and will not charge you for any unpaid payments due. (Unlike any other lenders we know.)

Please return everything that was provided with your vehicle. This includes all keys, the service book, satellite navigation discs or SD cards, fixtures and fittings (e.g. headrests, parcel shelf etc.), and locking wheel nut keys. We may charge for any items that are missing when the vehicle is collected.

It is important that when you return your vehicle it has at least 5 days remaining on the MOT.

We will invoice you for the outstanding mileage at the rate agreed within your contract. Contact us as soon as you know that you are going to exceed the mileage, and we may be able to include the cost within your monthly payment.

Please contact us at least six weeks before you are due to return the vehicle. We will advise you about removing the plate from your car. It is important to remove this before returning the car, as it may not possible to have the registration returned to you.

Request a copy of the BVRLA industry ‘fair wear and tear standard’ from CVS.  If you find that your vehicle has damage that falls outside the guidelines of this policy, you should have this damage repaired prior to collection. Otherwise CVS will have the damage repaired and invoice the costs incurred to you the customer. 

General Leasing FAQs

Having bad credit can make it difficult to get car finance through a mainstream car leaser. However CVS do things differently and as long as you can demonstrate you can afford the lease we can help.

Most of our lease cars are nearly new, and so you should get at least 2 years from the original manufacturer’s warranty (depending on the age of the car when you lease it and the length of the warranty.) It’s worth pointing out that unlike most manufacturers Hyundai give 5 years manufacturers warranty, which means your whole lease agreement would be covered.

We welcome customers with county court judgements (CCJs). We look at your current financial situation and whether you can afford the payments.

We only accept customers with bad credit. So you can apply for a lease if you have an IVA, CCJ, are in a debt management plan or have a poor credit rating. As long as you can demonstrate you can afford the monthly payments we can help.

We welcome customers with county court judgements (CCJs). We look at your current financial situation and whether you can afford the payments.

We welcome customers with individual voluntary arrangements (IVAs). We look at your current financial situation and whether you can afford the payments.

CVS are the registered keepers of the vehicle as you will be leasing the car and as such never own it.

The majority of lease agreements are for 3 years (36 months). However, we tailor all lease agreements to suit your individual circumstances so if you need a shorter or longer lease we can arrange that.

If you can demonstrate that you can afford the lease payments then yes you can lease a vehicle without a credit history.

As standard with all leasing companies, we charge a one-off payment at the beginning of your lease to cover all administration for the duration of your lease agreement. This charge is £100 + VAT.

We only provide new and nearly new vehicles and specialise in designing a vehicle solution specifically for you. We can source any vehicle across the whole of the UK car market place. Because of our volume acquisition we also negotiate fantastic special offers to be delivered direct to your door. Whether you want to acquire your first car, or drive something suitable for the family we can help. You may wish to consider total economical packages, executive comfort and style motoring, sports engineering and performance, convertibles or just plain outrageous head-turning luxury. Whatever your preference we can advise you on availability, savings etc. Bad credit personal car leasing is easy with CVS Ltd.

Business leasing, or business contract hire (BCH) allows you to rent a car or van, or a full fleet, for an agreed time – usually 3 years. Once you have paid the initial payment you will make fixed monthly payments for the lease term. At the end of the lease simply return the vehicle(s). Whether you are a sole trader, PLC or a new business we can help.  We can even help you to design your in-house employer benefit scheme. Our advisers can help you to design the best solution for you and your business.

You choose the car or van you want based on your budget, we will then purchase the vehicle and lease it back to you. So your only limit to vehicle choice is your budget.

Being a small specialist independent funder your payment with us will not be reflected in your credit score, however we are happy to furnish you with a financial reference at anytime during your leasing agreement with us.

In most cases we can work towards budgets, so if you have £250 to spend we can show the types of vehicles that fall into that budget.  However you will find our prices will be slightly higher than the mainstream companies as there is an element of risk involved.

Insurance FAQs

Vehicle insurance is not included as standard in the lease agreement and is therefore your responsibility to arrange a fully comprehensive motor insurance policy. For personal contract hire the main insurance policy holder must be you.  For business hire the car insurance policy must be in your company name.

Before you collect or take delivery of your car or van we will require a copy of the insurance document for the vehicle. 

Maintenance FAQs

Maintenance, servicing and MOT are not included in the lease agreement and is your responsibility. An MOT is only required on vehicles 3 years or older.

Tax

If your business is VAT-registered you can reclaim 50% of the VAT on the monthly lease payments, or 100% if the car is used purely for work. In addition you can claim back VAT on maintenance costs.

Road tax is included as standard, and will be taken care of by Compass Vehicle Services as the registered keeper of your vehicle, throughout the term of your lease agreement.

 

Back to top