What are the benefits of personal car leasing, even with an adverse credit file?
People from all walks of life, and for all manner of reasons can find their leasing applications being refused by mainstream leasing companies due to an insufficient credit score.
One of the most common ways of getting behind the wheel of a new or nearly new car is with bad credit car leasing. Many people who decide to lease rather than purchase generally do because of the depreciation that is experienced with new cars. With our car leasing agreements you do not own the car, so you do not have to worry about how much the car is worth at the end of your agreement, simply hand back the vehicle. Get all the information on leasing a car with Compass Vehicle Services.
What are my options when my Personal car lease ends?
Hand the vehicle back – providing you’re within your contracted mileage and the vehicle condition is within the fair wear and tear standards then you will face no further charges.
Renew your lease – over 90% of our customers renew their lease with us and generally upgrade their model.
Further benefits include:
Fixed Monthly Payments– Stay on top of your finances with fixed monthly payments.
No Depreciation Worries– No need to worry about your car depreciating in price as you simply hand it back at the end of your agreement.
Initial Payments Can Be Negotiable – Discuss with the CVS team in the beginning what initial payment you can afford.
Road Tax Included – Renewing and financing road tax is included in your deal as you’re not the registered owner of the vehicle
Access To Better Cars – Your budget can get you a better car.
Flexible Contract– Poor credit car leasing agreements can be negotiated to suit you and your personal needs.
Check out our NHS car leasing deals that are well suited to health professionals with a bad credit history.
To help you get the answers you need fast, we’ve compiled a list of our customers’ most frequently asked questions. If you can’t find the answer to your question, please contact us for assistance.
Q1. Can you explain personal car leasing to me?
Whether you are looking for your first car or simply need to upgrade your current vehicle, we can help you find it. Our ability to source vehicles throughout the UK allows us to provide you with new and almost new vehicles that meet your specifications. As a bonus, we are often able to work out great deals, thanks to our large vehicle acquisition. We can help you find the vehicle of your dreams, even if you have bad or no credit.
Q2. Can you explain business leasing to me?
Whether you need a single vehicle for your new business or you require a fleet of vehicles for your PLC, we can help you find the right vehicle(s) for your business. Our advisors will be happy to provide you with detailed information on business leasing and assist you in working out a leasing plan that works for you.
Q3. For acceptance do I need to provide an initial deposit or rental?
Q4. Can I have some act as Guarantor for me?
Q5. Is there a premium for non-status lease agreements or do you view them as you would someone without credit problems?
Q6. I recently returned to the UK after spending several years abroad. Would I qualify to lease a vehicle if there is no trace?
Q7. Is acceptance guaranteed?
Q8. My spouse will be driving the vehicle, but I am our wage owner. Am I eligible to lease a vehicle?
Q9. I am a resident of the UK, but I am not on the electoral roll. Everyone turns me down. Will you also turn me down?
Q10. I move addresses frequently because I’m in the Armed Forces. I’m not sure I’m on the electoral register. Can you help me?
Q11. How long will I have to wait to get my new vehicle?
After your documentation has been received, a decision should be made within 2 working days. From there, it depends on how quickly you make your initial payment. In most cases, due to our sourcing and purchasing your vehicle, you will it within 10 working days from the date of your initial payment. We will try our best to speed the process up when we can.
Q12. I have a vehicle already leased in my name? Is it possible to lease another?
Q13. My bankruptcy will be discharged one year from now. I’ll been turned down by other companies. Can you help?
Q14. My unpaid maternity leaves recently ended and I need a car lease. All I have is a single pay stub and a CC. Will this work?
Q15. Thanks to an ugly divorce my credit score is bad, can you work with me?
Q17. Will you work with me if I am currently in an IVA?
Q18. Will I be responsible for car insurance?
Q19. How long is the lease term?
Q20. Is the car in my name?
Q21. What kind of warranty can I expect?
This depends on the manufacturer and the vehicle’s age when it is leased. Typically, we lease newer cars that have at least 2 years remaining on the manufacturer’s warranty. Keep in mind that some manufacturers offer extended warranties. In some instances, your entire lease agreement may be covered.
Q22. What kind of car can I get?
Q23. Will I have to pay road tax?
Q24. What documents do I need to provide as supporting evidence with my application?
We ask that you supply 3 months worth of bank statements which clearly show incoming, outgoing, and running balance. A copy of a utility bill and a drivers licence (if you are using the old paper licence version a copy of your passport is also required). Sometimes our underwriters will request extra supporting information to help them assess your application.
Can I send Screen shots of my bank statements from my mobile?
The underwriters need to see a daily incoming, outgoing and running balance. Most screen shots from your bank app do not show this detail, therefore you will need to download the full detailed bank statements from your online banking.