Non Status Leasing
Non Status Leasing on Cars and Vans
Click on the links below to go to the section of the article:
– Overview of Non Status Car Leasing
– Non-Status Private Individual Criteria
– Non-Status Business (Limited, PLC, Partnership) Criteria
– Do we offer No Credit Check Car Leasing?
– What cars are available on Non-Status Car Leasing?
– What Terms will I be offered for a Non Status Lease?
– More information on Non-Status Leasing
– Short Term Car Leasing Links
Overview of Non Status Car Leasing
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 worth of payments made on time or even a high credit score that even some millionaires fail to have.
Here at Cocoon Vehicles 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.
Cocoon do have criteria for Non Status Leasing as follows:
Non-Status Private Individuals Criteria:
- Three years or more address history
- Three years employment history
- Proof of ID inc. Driving Licence at correct address
- Proof of address inc. Utility bill dated within the last 3 months
- Wage slip clearly showing income
- Bank Statements clearly showing income and expenditure.
Non-Status Business (Limited, PLC, Partnership) Criteria:
- Incorporation Certificate
- Business Bank Statements for last 3 months
- Company Registration
- Directors Details with ID
- Management Accounts (On Request)
- Directors Guarantee (If Required)
- Website details
- Previous or other company appointments (if requested)
Do we offer No Credit Check Car Leasing?
In simple terms, no. However, if you make sure that you tell us that you want a non-status car lease then we have specialist underwriters who look at all applicants on a case-by-case basis. They need to show affordability and stability.
A credit check is run for both personal and business users. When a business credit check is being done, the Directors of the business will also have checks carried out.
We can normally help in most circumstances, whether it has been a change of employment, recent divorce has scuppered credit or a few missed payments. So long as we can see that you can afford the car the answer could be yes!
The rates may differ from those advertised but generally if we feel the risk is higher, then we will ask for a larger security deposit. We must make you aware, that failure to pay for the vehicle will result in termination of the contract. If a Direct Debit bounces and it is not settled within 48 hours, we will arrange collection of the vehicle and you will be billed accordingly.
What cars are available on Non-Status Car Leasing?
This all depends on the Underwriters, sometimes all of the short term car leases would be available, sometimes only a small selection will be applicable. They will usually give you a reference number, which you can check against the individual car offers to see if you are eligible.
What Terms will I be offered for a Non Status Lease?
Again, this is down to your individual circumstances, however, it can be made up of the following:
– Higher Initial Rental
– Refundable Deposit or Bond
– Guarantee and/or imdenity
– Charge or debenture on property
– Or a bit of everything.
The terms will be laid out clearly once the acceptance has come through and you are not obliged in anyway to accept this.
More information on Non-Status Leasing
You are more than welcome to call our team to find out more about Non-Status Leasing. Please call the team on 01332 290173 or complete the form below. Click on the links below to find out more about the individual products we offer on short term car leasing.