Credit Score and Car Leasing

Jep1805

I will defiantly enquire Into those companies a lot of my friends and family have said similar to you about me not being accepted and them who earn a lower salary and have more debt etc have been. I’m starting to think If I’ve made an error of some sort on the application :embarasse

[Deleted User]

No lenders won’t divulge their lending criteria to you.
That’s commercially sensitive information.

xlnc99

Jep1805 wrote: »

I do not need, but much prefer a lease, I have had both lease cars and bought vehicles in the past. Leasing is the better option for me less maintaince etc and I can easily afford the payments.

I just would prefer not to make other applications if it will hinder my credit profile if I’m likely to be unaccepted. Could it be worth calling prospective companies first and ask for their criteria?

Thank you again.

i got rejected by one company because they made an error with the spelling of my name. I only found out after they sent a letter to my house telling me t could appeal their decision. I went back to the broker who told me to send them a copy of my credit report to appeal it. I would have done but was arready accepted elsewhere. I would go back to your broker and the finance company an appeal the decision. They defo made a mistake, u should no way got refused

xlnc99

Jep1805 wrote: »

I will defiantly enquire Into those companies a lot of my friends and family have said similar to you about me not being accepted and them who earn a lower salary and have more debt etc have been. I’m starting to think If I’ve made an error of some sort on the application :embarasse

Yes i think you or the broker filling the form out will have made a mistake on the form, maybe wrong digit on address date of birth or even spelling on name. It happened to me as told above. Go back to them appeal, they wont do another search, just download ur report and email it to them

[Deleted User]

xlnc99 wrote: »

Yes i think you or the broker filling the form out will have made a mistake on the form, maybe wrong digit on address date of birth or even spelling on name. It happened to me as told above. Go back to them appeal, they wont do another search, just download ur report and email it to them

But you don't know that though.
Just because it happened to you doesn't mean it happens to everyone else.
And vice-versa.

OP - have you tried eligibility checkers for car loans/finance?

xlnc99

as far as i am aware there is no eligibility checker for car finance for leasing. You have to choose the car then go for the finance option of lease

the eligibility checkers just give you car loan products which is different

i have leased plenty of cars over the years and the procedure has always been the same for leasing, you cant check before hand of the likelyhood of getting accepted

bazzyb

xlnc99 wrote: »

They defo made a mistake, u should no way got refused

Absolute garbage.

There is, of course, always a possibility that somebody has made a mistake somewhere. However from what the OP has posted, assuming he has given us a full and accurate picture then I believe no mistake has been made, his profile at the moment is extremely unlikely to fit the criteria for any lender to get a £22k lease car.

xlnc99

bazzyb wrote: »

Absolute garbage.

There is, of course, always a possibility that somebody has made a mistake somewhere. However from what the OP has posted, assuming he has given us a full and accurate picture then I believe no mistake has been made, his profile at the moment is extremely unlikely to fit the criteria for any lender to get a £22k lease car.

Its not 'absolute garbage'

As i mentioned earlier i applied for a lease car two weeks ago. I got rejected. Found out a few days later that the broker made a spelling error in my name hence why it was refused. So it can happen. From what he has described he has a great profile for a lease car and if everything he has said is true there is no very little chance he would get refused. Car leasing is the easiest to get finance on cars! Ive been leasing for 10 years i know how it works.

[Deleted User]

xlnc99 wrote: »

Its not 'absolute garbage'

As i mentioned earlier i applied for a lease car two weeks ago. I got rejected. Found out a few days later that the broker made a spelling error in my name hence why it was refused. So it can happen. From what he has described he has a great profile for a lease car and if everything he has said is true there is no very little chance he would get refused. Car leasing is the easiest to get finance on cars! Ive been leasing for 10 years i know how it works.

But you're doing the "it happened to me therefore..." routine again.

He has a great profile? Do you work in lending? Have you seen his full and complete credit history?

xlnc99

!!! wrote: »

But you're doing the "it happened to me therefore..." routine again.

He has a great profile? Do you work in lending? Have you seen his full and complete credit history?

No im saying it Could be a possibility and given what he has said on this thread about his profile it seems like a plausible explanation. Im judging by what he said on this thread and the fact that he has great credit scores indicate he is doing everything right! Clearly a strong possibility of a mistake on his application form somewhere. He just come out of a leasing arrangement aswell. All boxes ticked for him to get another lease, no reason at all why he is rejected. As said before lease is the easiest finance to get! Big lump deposit plus the car is never yours and the asset belongs to the finance company who can just take the car back anytime if he misses payments! The big deposit upfront covers any losses incurred and more. There is no reason at all the finance company should reject the OP based on the info he has given