Do You Get Credit Checked When Leasing A Car?
The short and simple answer is YES, whether you’re a private individual looking to lease a car or a company owner wanting to lease a car/van or fleet of vehicles to help with the running of your business, we will conduct a credit check to ensure you’re eligible for vehicle finance.
When you decide to lease a new car, van or pickup from Flexed, even if it’s for one month or up to a year, you’ll be asked to enter into a legal contract between you (the lessee) and the registered vehicle keeper (the lease company). Therefore, we must carry out an affordability check to find out if short term leasing is right for you.
A credit check is an important part of the leasing process to determine whether or not a new customer can keep up with the monthly payments on a lease car. Using your credit score is one way of finding out if you’re going to be able to make the payments. A ‘good’ or ‘excellent’ credit score will generally guarantee you a positive decision, however your application doesn’t rely solely on your credit score, as factors such as other debts you might have and your ability to keep up with the monthly payments are also considered and a final decision will be made based on all information/documentation provided.
All new customers wishing to open an account with Flexed will be asked to fill in the appropriate Business Lease or Personal Lease application form depending on what works best for you (only takes 5-10 minutes to complete) and be credit checked.
Our own in-house finance department deals with every application and will perform checks to verify your identity and address. Your income and expenditure will also be taken into account and a decision made within 24 hours (weekdays).
Once you’ve been approved, an account will be opened to you and all of our lease vehicles will be at your disposal.
Dealing With ‘Grey’ Areas!
There may be times when you fall into a ‘grey’ area and if this happens, we might ask for a refundable deposit to help support your application. This deposit will sit on your account and be refunded back to you once your contract comes to an end – as long as you don’t incur any charges during the lease.
Because we have our own in-house finance department dealing with every new application, we can look at each one individually, so there’s no need to worry if you think your application may not be approved!
To find out more, please call 0800 311 8290 or drop us an email: firstname.lastname@example.org
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