YourCarChoice has an established reputation for exceeding clients expectations and delivering in circumstances when other companies could not.
There shouldn’t be as much mystery around vehicle leasing as there is. But we can’t deny the doubt, fumbling and misinterpretation that sits within a company’s investment plans.
Finance, for some, is a scary prospect. When people are mistreated, they may come back to you with tales of woe, even if they’ve only experienced a snippet of the industry. Your Car Choice would like to erase four myths that keep surviving in the leasing sphere; hopefully, we’ll surprise you, and show there are more possibilities in store.
1. Credit history doesn’t matter
That’s the first – and worst – misconception to have. Many of us don’t even know what our credit score is, never mind its applicability for leasing arrangement. But if you’re searching for a mainstream loan, it really does matter. Banks and other lending partners will scrutinise the debt you’ve already built up over the years.
Paying it off is the key to a higher score. So be vigilant with what you’ve already got, as a rating, and how that could be improved before the application gets off the ground.
2. Startups never get access to leasing finance
True, regular lenders are very skittish about backing a new business. They’re likely to think your accounts are ‘unproven’ i.e. that the company has barely taken out any debt, due to its age, and therefore can’t be seen as a viable (read: provable) choice for a cash injection.
Specialist lenders, however, are far less strict. They understand that you’re requesting help to be profitable; how else can we get the means to pay anything back in the first place? Instead of company accounts, they can look at your personal/director credit history, or the balance sheets registered under a former sole trading enterprise. In short – there is hope for everyone, regardless of trading experience.
3. Vehicles have a universal mileage limit
Nope: they’re set at a limit you prefer, which obviously makes the cost of the lease go up per month if you want to increase the distance a car or van can travel. Mileage is cemented in the contract; a factor we’ll help you analyse before approval. Leasers can choose varying degrees for their vehicles, as a whole, to gain the right fleet provisions.
The thing is, you can play smartly with mileage allowances until they move to the rhythms of your business activity. One car, for instance, may do fewer trips than another; if that’s the case, keep the mileage down whilst raising it on another that’s on the road more often.
4. Insurance is a separate factor from a lease agreement
Usually, this is correct – the danger, however, is believing there’s no exception. The best brokers can add insurance (which is essential for some lease types, such as a Personal Contract Hire) onto the bulk of your finance plan.
There’s a single payment for everything, so you don’t have to worry about keeping up with X or Y as separate entities. Furthermore, we can streamline a Road Fund License, if necessary, for the fleet in your hands.
Myth-busting is part of what we do. Your Car Choice live up to our name, maintaining absolute freedom in the vehicle finance or lease you’re hoping to get. That’s our promise. Find out more by calling us today, gaining access to specialist lenders in the UK for any and all shades of vehicle financing.View All
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