In order to lease a vehicle through 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 vehicle finance. 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?
You are likely to be eligible for personal finance based on the details you provided.
When filling out our online Personal Finance Application Form, you will be asked to provide the following information:
Personal details – Including marital status and number of dependants
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
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
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
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
This information will be used to ensure you are able to afford the lease you have applied for.
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:
Initial Rental £1,330.98 Incl VAT
Processing Fee: £198.00 Incl VAT
Subject to status and conditions
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.