Car leasing for bad credit may not sound like a plausible option for you to consider, most especially if you are in dire need of a car, because you might think that it is just an impossible feat to undergo. But contrary to what you might think, even with a bad credit rating and history, you would still be able to lease out a car with total ease. It does not even matter if you are self-employed, or if you already declared yourself bankrupt (even in the past), or if you are going through an IVA or Individual Voluntary Arrange for your debt management plans, or even if you have an existing county court judgment or CCJ, it would not be a hindrance in the approval of your car lease application. So as long as you would be able to prove that you are already in a good financial situation to have enough capacity and capability to pay-off your monthly payments for the lease. If you are not yet fully back on your feet in terms of your finances, you do not have to worry about it at all because you could work with a budget that you would be able to afford for your monthly payments when leasing a car with bad credit.
Wide Range of Car Options
When leasing for a car, even with bad credit, you do not have to be limited to just a few car models. You do not even have to be limited to lease out old models and old or used cars. Even with your bad credit history, you would still be able to have the luxury of choosing the type of car you would like to lease out– as long as you afford the monthly payments, of course. If you are looking for a car that you would only use for city driving, or maybe even an SUV for a more comfortable ride, or a family car for your whole family to use, you could choose it from a wide range of makes such as a Fiat, Hyundai, Mazda, Mini, Peugeot, Renault, and Vauxhall. Not to mention that there are also automatic cars for you to enjoy. A bad credit history is already as bad as it seems, most especially with applying for financial aids and services, but it does not have to be all bad when you can lease out the car of your dreams.
Monthly Lease your Budget Could Afford
If you are not very specific to the make and the model of the car you would like to lease and is just more focused on a budget that you could afford, you could also still have a wide array of choices depending on how much you are willing to spend. You lease out a car for as low as £100-199 and as much as £500-599. The cheapest car you could get is the Fiat 500, which is relatively small car. But if you are just by yourself or if you are only a small family, and you just want a car for city driving, then this is perfect for you, and it is also quite affordable with only an initial payment of £299 and a £199 monthly payment for 35 months. If you are a big spender and want a really good looking car to impress, then you can opt to pay for £399 a month after an initial payment of £899 so that you could get yourself a Peugeot 308 Active or a sleek Mini Cooper Auto for a monthly payment of £379 and an initial payment of £999. The great part about leasing cars is that it does not only cater to your budget, but it also has a short time commitment of only two to three years.
Brand New Cars with Manufacturer’s Warranty
When you lease out a car, you would receive a brand new and un-driven car with a manufacturer’s warranty. Meaning to say, if the car breaks down on its own when you are using it, you would not need to pay a single pence to have it repaired. This also means that should your lease already end and you would want to get another car and a brand new lease, you would be driving another newly bought and un-driven car, different from what you previously leased. You would be able to test drive different car makes and models during the years you would be needing a leased out car. And unlike owning a car, you would not be burdened with the huge expenses that come with properly maintaining the upkeep of the car. From lease to lease, you would only have to pay the depreciation value of the car you are currently using for the time you would only be using it, unlike if you buy and own a car for yourself where you will be burdened by its depreciated value at the end of a couple of years.