If you have found out website then it is likely you are searching for Bad Credit Car Leasing and that you may have been declined or turned down for credit with one of the high street funders or perhaps have tried to obtain car finance or car loan and you don’t quite meet the finance companies criteria. A Bad Credit Car Lease is an alternative for many UK motorists these days as it will allow you to still drive the car of your choice even if you have suffered with previous bad credit or have a score that is just under the funders required level. Here at MSG Cars we are fully able to offer you non status contract hire or finance – even if you have had massive difficulties in finding someone to approve you previously. It might be that you had set your heart on the latest model from Audi and had even gone to the dealer to place a deposit. In many cases you can still fulfill that order as the only thing that changes is that we transfer the funds to the retailer on your behalf. Some customers come to us and we actually find them the identical vehicle but at a much lower retail price – saving them thousands from the start.
Can you really help with Bad Credit?
We wouldn’t waste our time saying it if we genuinely didn’t believe that we can actually provide the service that we offer. Many of our existing customer have a huge range of reasons for choosing to take out an agreement through us and they vary from just a few missed payments on credit cards or loans to being discharged bankrupts. The reason we are confident that we can help get you not just any but the actual make,model and colour that you desire is that we have excellent relationships with a number of specialist funders that have a considerably different lending approach compared to the highly cautious banks and car leasing firms. Even if you have adverse information showing it wont be an instant rejection and many different factors are looked at for reasons to actually do the deal. Put simply you will have a fixed number of payments between 12 months upto 5 years depending on who you are placed with. Road tax is always included with leasing and you just need to insure your car or van as normal. You have the option to take the vehicle over 5 years and then it is owned by you at the end – so do give us a call to talk through your options.
Pick your own vehicle
Just because you have poor credit you don’t need to be pushed into taking a vehicle that you dont want. With MSG you can select any UK make or model and we will be able to give you a confirmed monthly price. We can actually obtain the money from the finance company to buy your vehicle ourselves so are free to use this to our advantage to get you the best price for the car. You are even able to find the vehicle yourselves and we will arrange payment – its as simple as that. One of the major reasons that we see to take out a lease on your new motor is the fact that you don’t need to worry about what its future value is going to be. You have an agreed monthly amount to make and that is all you need to be aware of. You still have the choice of which car to go for and wont be pushed into taking something you don’t like. At the end of the contract the car is simply collected from you and you are free to order a new model.
Typical reasons to use MSG
Many of our customers have a number of reasons for using our services and some of the main ones are; Missed or late payments on their file resulting in declined applications from main stream lenders. This is very common and especially during the current financial problems many Banks and lenders are experiencing as they look to halt any possible ‘bad debts’ by accepting only the very best profiles as they are lower risk to their business. Missed payments are very common as it is very easy to do and doesn’t necessarily mean that the account holder is struggling to keep up repayments but will flag up on the report as a potential high risk. Problems associated with divorce or separation. In circumstances such as these payments may stop due to financial difficulties resulting from the loss of half the household income or one partner stopping to repay a joint application for example. This is a major factor in causing Adverse credit to show up against an applicant and is very difficult to prevent. Company car schemes ending. This again is very common as companies look to reduce outgoings to save money. This means that if an employee has a poor credit rating then they may struggle to line up a replacement vehicle for when their car is handed back to the company. We have many customers that have been put in this situation and it can be very distressing especially if the job involves a lot of travel. At MSG we are more than able to offer suitable alternatives to a company car scheme such as a Non status car leasing deal and more often than not are able to offer a similar vehicle at a price that is not too much more than what a Prime customer would be paying.
What about No Credit?
No credit rating! Yes – crazy as it seems lenders will also reject your application if you have had too little finance and your credit file shows very little. This is a result of them not having enough data to make their decisions on but do not panic if this is you as MSG can help no problem. This also applies for a new start business as many will be required to provide a full set of accounts to support the case. Well accounts are not due until the business has been operating for nearly 2 years so this one is going to be tough if vehicles are required to operate. For a fresh approach to your vehicle purchasing needs get in touch with us and see what we can offer – you won’t be disappointed.
Common FAQ’S for Non Prime Car Funding
With all applications you will need a Full UK passport that is valid or if this isn’t available we will need a copy of your birth certificate. The name that is on the identification needs to match that on the application form completed. You will also need to provide two months payslips or bank statements to support your proof of income.
The clock starts as soon as you hit send on the application form on our website and you can be assured of a quick turnaround. The great majority of customers will receive a decision Instantly with the rest within the hour and so there is no waiting days for someone to come back to you. As soon as you have then picked your new vehicle and are happy with the price we can issue your finance or lease documents for you to sign and return. All that is required then is for us to send the dealership the funds and away you go in your new motor!
With all of our current Car Leasing and outright Finance lenders you will have to contribute some form of deposit or initial payment – either by way of cash or your existing car as part exchange. This amount on most cases works out at around four times the monthly repayment amount as a minimum but on applications with a better credit score we can offer a reduced amount of £600. The higher the deposit amount though – the lower your monthly payment will be!
We can fund any car on finance providing it is purchased from a dealership and has less than 70,000 miles on the clock. It can be no older than 7 years in age either and we do prefer customers to use garages that have a decent forecourt with at least 10 cars for sale. It is just the same process if you were a cash buyer so even if your local dealer has declined your application we can make sure you still get the car you want.
In the eyes of the right type of lender and Bankruptcy will usually mean that a person has no outgoings other than rent and essentials and so has a clean slate as far as credit is concerned. This means that they are much more likely to be able to afford repayments – even when compared to someone with perfect credit but lots of obligations such as Mortgage, Bank Loan, Car finance and Credit Cards! Our lenders will consider all discharged Bankrupts.
Our main lender can offer instant decisions through our application form on any amount between £5000 and £25,000 depending on your salary. Other lenders we work with can fund vehicle purchases upto £70,000 so please let us know your requirements.
Put simply we are not here to waste anyones time – let alone our own! If we were unable to offer finance and lease solutions to customers with very poor credit why advertise the fact? This is our main business and so as a company we can only operate if we are successful on a daily basis in getting customers accepted on the car of their choice.
With any Lease deal that is advertised with maintenance included no matter weather it is for a good credit rating or not you will actually pay an extra amount each month for this privilege. It is a common misconception that all Leasing contracts come with this automatically and we find that in the office we speak to several customers each day on this matter. The ‘Full Maintenance’ plans that many people might have heard of are simply a form of insurance policy that runs alongside your monthly lease repayment and not quite an ‘all in’ amount as first thought. In our experience it is well worth looking into adding such cover if you expect to be driving over 20k miles per annum and will be keeping the vehicle for 3 years. It will cover all service costs and even replacement tyres which usually last for around 20k miles. On brand new cars the first service is typically quite a low outlay but the service plan comes into its own when it comes to the big bills found with higher mileage motoring. Each driver is different but if you only do low miles – say 8,000 per year then you would simply not get the usage from such an arrangement.