We are often asked whether car leasing is available for motorists with bad credit, and the simple answer is, yes. While most big-name automakers will refuse to lease cars to those with poor credit scores, we are able to find flexible solutions based on a number of factors.
Leasing a car can be confusing, but we aim to make the process as simple and hassle-free as possible, providing a range of solutions and lots of advice to ensure you drive away happy. Check out our guide to ensure you have all of the information you need before finding your ideal vehicle.
Common Misconceptions of car leasing and credit scores
- Is my credit score the only thing that determines whether I can lease a car?
We consider a variety of financial aspects when finalising a lease agreement. This is one of the most common concerns for lots of people looking to lease a vehicle, but don’t worry if you have poor credit, as this is just one of many things we look into. Scroll down to discover what else we look for.
- Am I too young to lease a vehicle?
We have leased vehicles to customers as young as 18 in the past. Most people are of the belief that young adults cannot have great credit, but this simply isn’t true. We have had several teenagers with credit scores in the high 700s due to their financial sensibility with phone contracts and the like. There is no minimum age when it comes to our lease deals – as long as you can afford the lease and insurance, have a driver’s license and pass our checks, you’re free to lease a vehicle with us.
- Can I lease if I have a red credit score?
The dreaded red… Most big-name lease companies will refuse anyone they find to be in the red after a credit check. However, our credit checks are a lot more flexible, and we have often leased vehicles to people with poor credit. If you find out you have a bad credit score with the likes of Experian or Clear Score, don’t be afraid to give us a call to see what we can do for you.
- I’m leasing a car for my business – do my accounts need to show 2+ years of trading?
This is usually the case when leasing a car straight from the manufacturer, but not with Just Vehicle Solutions. We aim to support startups and small businesses, and are able to offer vehicle leasing to those with little-to-no-credit history. Give us a call on 01636 858458 to discover the array of options at your disposal.
What do companies check before leasing a vehicle?
At Just Vehicle Solutions, we create a Risk Scoring Sheet for anyone considering leasing a vehicle from us. This is an overall score devised from the following checks:
We take a look at the information you provide to determine whether or not we believe you can realistically afford the monthly payments required for your chosen vehicle. This is the key question we ask ourselves, the answer to which comes from the next three bullet points.
- Previous bank statements
We look for your other regular payments as a means of concluding how reliable you are at paying things on time. If you are already making consistent, timely payments for your current car, this is a huge bonus, as it tells us you are more than likely able to afford a replacement.
- Disposable income
Your salary and disposable income are two other key factors in us determining whether or not you can afford the lease. For instance, if we notice you consistently end the month in the red, your chance of leasing a vehicle are slim. However, if we can see you end the month with enough disposable income to afford our lease agreement, it is extremely likely you will be awarded your chosen vehicle.
- Credit Score
While the credit check is not the only one we do, it does play a role in the overall handover process. We are certainly able to provide lease agreements to those with bad credit, but you will need to provide decent scores in other areas of the process.
How can I lease a car with bad credit?
One of many things that separate us from the bigger vehicle manufacturers is that we are able to offer leased vehicles to those with bad credit. We do this by requesting the person or business in question pays a refundable deposit to us at the start of the lease term. Providing there are no issues throughout the lease agreement, this deposit will be returned to you at the end of your lease.
If you’re looking for a flexible lease agreement and do have poor credit, check out some of our special lease offers. As well as regular vehicles, we have an excellent selection of company car lease deals.
Car Leasing Credit Tips
Remember, each time you get credit checked, it affects your credit score. This is why we STRONGLY advise that you take extreme care when approaching various leasing companies to explore your options.
For more information on credit checks and how they influence your credit score, check out ClearScore’s guide.
How long does it take to find out if I can lease my chosen vehicle?
The turnaround from the moment you call or visit our office to putting pen to paper on your lease agreement is usually a maximum of 24 hours.
I’ve agreed on a lease – how long until I get my vehicle?
After signing the lease agreement, most customers get their car as soon as within 2 weeks, although the wait time can sometimes be a bit longer depending on the model and colour of vehicle you request.
Explore our current offers using the links below:
We can supply any UK vehicle, so be sure to give us a call on 01636 858458 or email info@justvehiclesolutions if you have a specific model in mind!