Turned down for a lease car

NDAL83

Hi,

I recently applied for a personal contract on a new car and was refused, which is always embarrassing. Does anyone know what sort of credit score they are looking for to deem you worthy to lease a car? My experian score is 824, all payments are up to date. Any ideas?

AdrianHi

Doesn't experian or another credit checking agency give you a more thorough report indicating the problem?
It could be a previous occupant of your address with the bad history which then sticks with the address unless you take action to get your credit record cleared of this.

nickmack

AdrianHi wrote: »

Doesn't experian or another credit checking agency give you a more thorough report indicating the problem?
It could be a previous occupant of your address with the bad history which then sticks with the address unless you take action to get your credit record cleared of this.

Looking at the Credit Report may help, but it won't say why you've been refused for this particular credit line.

Credit reports don't take into account previous occupants at your address any more. It's only the individual and linked persons that affect you.

nickmack

NDAL83 wrote: »

Hi,

I recently applied for a personal contract on a new car and was refused, which is always embarrassing. Does anyone know what sort of credit score they are looking for to deem you worthy to lease a car? My experian score is 824, all payments are up to date. Any ideas?

The company assessing you for this particular finance may well not use your Experian score at all.

Ask if they can provide any more information on whether it's verfication of details or affordability they refused on.

Check your report for defaults, late payments and large lines of unused credit. Ensure you're on the electoral register and the information you provided to the lease company was accurate.