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Are you eligible for personal leasing finance?

In order to take advantage of a cheap car finance deal with Nationwide Vehicle Contracts, you will need to undergo a credit check as part of the finance application process.

Most funders ask for a good to excellent credit score in order to be accepted for car leasing. A lender may also look at other factors such as your ability to make regular payments on time and any other debts you may have. All credit lending decisions are based on your current circumstances, not any future changes. You can check your current credit score on Experian for free.

Take our brief interactive questionnaire to find out if you are likely to be accepted for personal leasing finance.

Are you over 18 years of age?

How many years have you been at your current address?

We need at least 5 years address history for a personal application

Are you in full-time employment?

How many years have you been with your current employer?

Have you ever been declined for finance before?

How many years ago was this?

Have you got any adverse credit on your file? eg. CCJ, missed/late payments, bankruptcy, IVA scheme

How many years ago was this?

Good News!

You are likely to be eligible for personal finance based on the details you provided.

What would you like to do next?

We're sorry, but you are not currently eligible for personal finance

Lenders may require more detail on some of the answers you provided before you will be eligible for finance.

Please call us on 0345 811 9595 to discuss your finance options

Car lease deals

What we need to know from you when filling in a finance application

  1. Personal details

    Including marital status and number of dependants.

  2. Address details for the past five years

    This information is used to verify your identity and may also be used to determine the credit histories of anyone you are financially connected with. Previous residents to which you have no financial association are not considered.

  3. Employment details for the past three years

    This information is used to determine how your present income and expenditure is likely to evolve over the period of your lease.

  4. Your bank details

    This information is used to determine how you have managed your existing accounts and your ability to make payments on time. Although the details must be provided for the account for which you will be setting up a direct debit should your application be accepted, no money can be taken from your account without your permission.

  5. Your monthly income and expenditure

    This information is used to ensure you are comfortably able to afford the finance deal for which you have applied.

Additional information that might be required

As part of your application, you may be asked to provide additional information in certain circumstances – for example, if you are not currently in full time employment, or if you’ve only been with your current employer for less than five years.

We might ask you for:

  • Further detail about your employment history
  • Further detail about your monthly income and expenditure
  • Copies of bank statements showing a regular income from other means

This information will be used to ensure you are able to afford the lease you have applied for.

I’ve recently moved to the UK, will I be accepted for vehicle finance?

If you’ve recently moved to the UK from another country, you may need to supply additional information in order to be considered for vehicle finance. This is because it can be difficult for the finance provider to view your full credit history outside of the UK. Additional information they may ask for could include:

  • Annual bank statement or account summary showing at least 6 months of payments received or spending in the UK
  • Proof of residence in the UK such as a tenancy agreement or residential mortgage statements
  • Contract of employment or an employer letter confirming employment with evidence that the employer is genuine (for example, their Companies House number)
  • Proof of UK bank account, such as bank statement showing your full name and address

What credit references agencies are used to check my credit history?

Most finance providers use a credit reference agency to assess your eligibility for vehicle finance.

There are three credit reference agencies in the UK - Experian, Equifax or TransUnion (formerly Callcredit) - who all use information such as your current and previous lending history, indebtedness, the electoral register and demographics to form your overall credit score.

If you wish to find out your current credit score, we’d advise that you contact the credit reference agency direct to obtain this.

How long does the credit check take?

Once you have completed the Personal Finance Application Form, a sales representative will be in touch by phone to confirm your order and run through the necessary pre-credit checks before submitting you for finance.

Most funders respond to a credit application within 2 working days however during busy periods, it can take up to 5 working days to receive a response from the funder.

What to do next

If you’ve taken our quiz and are likely to be eligible for finance, you can:

Personal leasing deals

Once you’ve found the vehicle of your choice, you can fill out an online quote form and one of our representatives will be in touch.

Alternatively, give us a call on 0345 811 9595 and we’ll be happy to help.

If you’re still unsure whether you are eligible for personal finance, please call us on 0345 811 9595 to discuss your options.

Alternatively, if you’d like to find out more about how lenders decide to give you credit, read this guide from the Citizens Advice Bureau.

Personal Leasing Leasing a Car with Bad Credit

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