Can I lease a car with poor credit
Car lease questions to ask
CCJ’s, loan defaults or missing payments on time can all result in you having bad credit, which is seen as negative by most companies. Credit usually means borrowing in some shape or form, this could be a loan, credit card, car finance and even a mobile phone contract. When people say ‘bad credit’ they are usually referring to your credit history.
Can I lease a car with bad credit?
Your credit history is calculated by credit reference agencies and shows how you have managed your credit commitments in the past. Every time you miss a payment, even if you make a late one, the lender will inform the credit reference agency. This information is then added to your credit file, the credit files are what lenders rely on when considering lending money. This can make it very difficult for you to borrow money, or when you can, will result in you paying higher interest rates, as you are seen as a much higher risk.
Do I have ‘bad credit’?
Your first stop to see if you have bad credit is to request a credit report, from a credit reference agency like Experian, this service is usually free of charge and will give you a good indication of how likely you are to be accepted for credit. Your score will be a number between 0-999 the higher your score the better, the lower the score the more likely it is that you have bad credit.
Why do I have ‘bad credit’?
You can have bad credit for a number of reasons, such as:
- Time at your current address
- Being in a debt management program
- Defaults (missed payments)
- Late payments
- Mortgage arrears
- Too many credit / loan applications
- No applications at all (never used credit)
Let us help…
When it comes to answering the question can I lease a car with bad credit we understand having bad credit can be tough, that’s why CVS specialise in offering leasing deals to people with poor credit. We do not believe that small hiccups in your financial past, should have an adverse effect on your financial future health. We only consider affordability and traceability when we look at your application, and design a leasing agreement you can comfortably afford, by finding the right car for your budget.