Here at MSG Leasing we are able to offer you car leasing on any UK car or van – even if you have a bad credit rating, been previously refused finance, have adverse information such as CCJ’S – defaults – Iva or even a previous Bankruptcy. A Non status contract hire agreement can help you to drive the car of your choice when you are finding it difficult to get approved with mainstream finance companies.
But what does contract hire mean? Quite simply this is another word to describe a car lease where by you select the car or van of your choice and have a fixed monthly payment agreed over usually a three or four year period. At the end you simply hand the car back and are free to take a new vehicle once again. The benefits of a Non status contract hire are that you don’t need to worry about the value of the car depreciating as you don’t own it. The finance company when calculating your rental take this into account but even if the market drops suddenly and used car prices plummet – your direct debit based payment will not alter by one penny.
Non status is the term used to describe the fact that your credit profile is not really taken into account when the underwriters make their decision on your application and can be related to many situations. It could be that a Non status contract hire lease is the best choice for you as you have had very little finance in the past or not had the need to. Some high street lenders would react this as bad as having any bad credit as they have nothing to go off when accessing how much of a risk you are! Other reasons why MSG customers need to use a Non status based service might be if they have moved home address a considerable amount which believe it or not can cause alarm bells to ring with many banks or car leasing companies. The reason for this is that main stream funders believe activity such as frequent address change is suspicious behaviour. Now there could well be reasons such as being in a rental situation where it may be your choice to choose to change every six months or so as you are not tied to any particular property.Non status contract hire and the finance companies that we use that offer this facility can look past the usual requirements and are much more flexible. The main requirements are that you can prove who you are – usually with a driving licence or passport and also a utility bill to prove your address at the present time.
At MSG we are in the fortunate position where the lending criteria that applies to the the high street lenders doesn’t effect our decisions. We are so confident that we can help and we assure you that when we say that we can offer Guaranteed car finance we mean it! It would be a waste of your time and ours if it wasn’t something that we could offer to any UK resident – it’s that simple. Car leasing is a method of funding your choice of vehicle but you can also take advantage of our purchase schemes if you want to retain ownership at the end. You will have the road tax provided for you for each of the years you take the car over also so helps keep running costs down also.
