Poor Credit Rating And The Credit Crunch.

What does it mean for the car leasing industry, for business and personal customers? It means quite simply that the finance house’s purse strings have tightened to the point of closing.

No matter who you are, if you want any type of finance, you will be searched by a funder. This is the first stage of any financial proposition, look at it this way, would you lend your money to someone if you had no idea if they would pay it back? Any one who tells that you won’t be searched or that by moving addresses that you can hide from bad debt in the past is nothing more than a liar.

You will be searched and all bona-fide leasing companies will do this at the outset, they want your business and they also need to ensure your credit rating is not affected by repeated searches and declines from different funders. If a broker does not ask your permission to credit search you then walk away. If a broker takes your application and farms it out to all and sundry then your credit rating WILL be affected, the more searches that are done then the worse it normally is as this means you are searching high and low for finance and every funder knows you are doing this and that you are being refused finance. It does not help, so stick with one leasing company who can lease cars

Simple solution is this:

If you know you have a poor credit history then tell the leasing company so that they can help.

Explain why you may have county court judgements, how much they are for and what they are for.

Explain if you have defaults on payments, why and for how much and if arrears have been satisfied.

Be up front, it saves you and us time. You need to lease a car or a van. We want to lease one to you.

Help us to help you.