And You Thought You Had A Good Credit Rating!
Poor Credit Rating And The Credit Crunch.
Everyone will tell their friends, “I have a great credit rating, I own my own home, I work full time and I pay my bills on time. I don’t have any county court judgments and I never default on any payments. BUT and there is a BUT!
This time last year they may have had an A1 rating but things have changed and it won’t always be their circumstances, they may still pay everything on time. But, the banks have moved on their undewriting criteria. Someone who was previously A1 might now be C3. Companies who were 97/100 will now be 53/100. Why? Well the answer is simple, the finance houses are limiting risk, they are not willing to risk their capital and so they are being very, ver careful who they lend to.
What does it mean for people looking at car leasing It means quite simply that the finance house’s purse strings have tightened to the point where they now cherry pick who they will lend to.
No matter who you are, if you want any type of finance, you are going to be credit searched. This is the first stage of any finance proposal. there is NO SUCH THING AS “NO CREDIT SEARCH FINANCE.”
YOU WILL BE CREDIT SEARCHED.
So if you think you A1 then fantastic, however we have seen Doctors, Lawyers, Social Workers, Police Officers, Bailiffs and Teachers be declined. Guardians of society and upstanding people all declined.
There is a solution:
If you know you have a poor credit history then tell us so that we can help.
Explain why you may have defaults.
Explain why you may have county court judgements, how much they are for and what they are for.
You need to lease a car or a van. We want to lease one to you.
Help us to help you.
