Bad Credit Car Leasing

If you’ve recently been turned down for credit or have a less-than-perfect credit history it can be difficult to lease a car.

Can I lease a car with a poor credit history?

FVL, along with most car leasing companies, aren’t able to lease a car if you have a less-than-perfect credit history. Our lenders essentially buy brand new cars and then hire them to our customers using a contract. As they make such a large financial commitment, the lending criteria they set is quite strict.


What is a poor credit history?

If you have a less-than-perfect credit history you should look to improve your credit rating before applying. So if you’ve missed one credit rental, for example, you’ll likely find it difficult to lease a car.


What is a credit report?

When you apply for a lease our lenders will check your credit report as part of your application to help build up a picture of how you have dealt with credit commitments in the past.


It’s sensible to check your credit report before applying for any finance. Sometimes there can be errors on your credit report which may be preventing you from obtaining finance.


How do I obtain my credit report?

There are three credit reference agencies in the UK and you can obtain your statutory credit report which is free. It’s a sensible approach to obtain your statutory credit report from all three to check for any inconsistencies which may be affecting you.

 

Experian - www.experian.co.uk/consumer/statutory-report

Equifax - www.equifax.co.uk/Products/credit/statutory-report

TransUnion - www.transunionstatreport.co.uk

How to find out more

To learn about ways to improve your credit rating head over the Money Advice Service, which offers free and impartial advice set up by the government.

 

Money Advice Service - www.moneyadviceservice.org.uk

Or call the Money Advice Service on 0800 138 7777


Can I still apply to FVL if I have bad credit?

Every time you apply for credit this can leave a record (known as a footprint) on your file and this can actually make it even more difficult to obtain finance. So we recommend you take the above steps before applying with us if you think you have a less-than-perfect credit history.


How to find out more if you are unsure

If you still are unsure if your credit history will prevent you from leasing a car, have a chat one with one of our friendly advisors today to see if we can help.

Please call 0333 00 333 025 or submit your details on a vehicle you’d be interested in and we can call you back https://www.firstvehicleleasing.co.uk/car-leasing