Non-Status Leasing on Cars & Vans
Businesses and Private individuals can increasingly find themselves unable to obtain credit for Contract Hire, Leasing or even Hire Purchase. This can be down to a number of reasons, including New Start Up Business with no trading results, a company established within 2 years with poor trading figures due to a business startup’s, CCJ’s or adverse credit.
Major leasing companies and funders have very strict criteria, there was a time when these big companies would accept just about anyone or anything, but they got stung with massive write off’s and vehicle repossessions. They now like to see positive balance sheets, 3 years worths of payments made on time or even a high credit score that even some millionaires fail to have.
Here at London Short Term Cars, we have been helping Non Status customers since 2007, utilising our Short Term Leasing fleet. This way we can help you stay mobile and get to your day to day job to earn money or as a new business its vitally important to have a reliable and smart vehicle to give the right impression to your new customers.
Criteria as follows:
We may require the following information/documents on receipt of your application:
BUSINESS APPLICATIONS (Limited Companies & PLC's)
A credit check is carried out for both personal and business applications. When a business credit check is processed, directors checks will also be carried out along with land registry checks.
No Credit Check Car Leasing?
All of our customers will undergo a credit check with a credit reference agency. We will also carry out checks to comply with the FCA and Anti-money laundering regualtions.
As you may appriciate, we need to ensure we tick a few boxes, so with all non-status applications we will also carry out affordability checks.
New business applications, may go through a different process, but our experienced underwriters can point you in the right direction.
Traffic Light System
We run a traffic light system for all accounts, non-status or standard.
We use this to monitor payments and the way you look after your car and account, more information can be found on the link below:
We Can Help!
London Short Term Cars can usually help with most non-status applications, whether its a new start business, CCJ, adverse or IVA. Our specialist underwriters look at every application case-by-case and wil determine eligibility.
Due to the risk, terms may differ on a non-status car lease and we may ask for a refundable deposit, higher initial rental, higher documentation or a guarantee.
Although the monthly rate will never change from those advertised. But you may be restricted to which vehicles you can go for and will have a credit limit imposed.