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So the typical scenario at this point is that you are thinking of acquiring a new car.
If any of the above relates to you than the following would be very helpful to consider before you apply for car leasing.
Setting the budget right is the most important task before you plan to take out a loan. It is crucial to understand what and how much you are committing, any penalties and any surcharges that can occur and being confident you can afford to make the regular payments otherwise it can make or break your credit profile rating. Most loan applications favour those that have a permanent employed status with a continuous employment record that illustrates your case of being financially stable while it calculates your affordability score based on the finance you are applying for.
Generally the last thing on a leaser’s list but we recommend getting a few quotes from confused.com before you set your heart on a particular because this figure could drive your decision to which car will fit the budget.
It doesn’t come as a surprise that most of us are so concerned about being offered the finance we often forget to even test drive the demonstration lease cars before applying and accepting the contract hire agreement. Although you are not purchasing the car you are still committing to paying a considerably large amount of money over monthly instalments no only that but you some of you will be spending more time in the car than on your sofa so it’s important to get the feel of what you are committing to for the next 2-5 years.
Get in touch with a local dealership and book yourself a no-obligation test drive and it could be a good place to start your research to learn more about the car and also compare the car leasing deals offered by the dealers.
Most if not all finance applications you submit will incur a credit check which can have an adverse effect if you are declined. Before you hit the red button or sign the dotted line it may be worth paying a little to get access to your credit profile and checking your scores online with agencies like Equifax or Credit Expert from Experian that can illustrate the likelihood of you being approved for finance. You will also be notified of any concerning activities on your profile which you could be able to amend by taking appropriate actions that may increase your chances of being approved for finance.
If you have existing loans and you are keeping up with the payment it can sometimes illustrate that you are capable of managing your finances but on the other hand it could reduce your affordability for another loan so it may be worth clearing off any existing debts before you apply for car leasing finance.
* All vehicle images and car descriptions on this site are for illustration and reference purposes only and are not necessarily an accurate representation of the vehicle on offer.
T: 0800 910 1111
TFS Vehicle Leasing
25-39 Small Heath Highway
TFS Vehicle Leasing are a credit broker and not a lender. TFS Vehicle Leasing are a trading style of Central Accident Management Services Limited and are regulated by the Financial Conduct Authority. Registered No : 461286
Registered Office : 25 Small heath Highway, Birmingham, B10 0EU | Registered in England & Wales with company number : 05927767 | Data Protection No : ZA094260 | VAT No : 896128091
TFS Vehicle Leasing are a member of the BVRLA, membership number 7066.
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