Leasing Hub

If you're new to leasing & want to learn about the process, Leasing Options' comprehensive guide has everything you need to know about first-time car leasing

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Who is eligible to lease a car?

Technically, anyone over the age of 18 can lease a car. However, you need to pass a credit check during the application process.

This credit check looks at your financial history and current affordability and rates your score based on these factors.

The outcome ranges from very poor to good or excellent. Having a score which reflects the positive end of the scale is more likely to have a better outcome for leasing. However, if you have a poor credit rating, it doesn't mean you won't be approved for finance, as some lenders will accommodate lower scores.

Car lease eligibility checker

Before you apply for lease finance, our eligibility checker gives you an idea of the chances of being approved for a lease car.

Of course, we want customers to feel happy and comfortable with the payments of a leased vehicle. That's why our checker evaluates your circumstances and affordability factors to give you a realistic insight.

While your main application involves a credit check – you don't have to worry about this when using our finance check tool. Instead, the checker does a soft check on your score, which won't affect your official credit rating.

Why check if I'm eligible before applying for my lease?

Using an eligibility checker before applying for a car lease gives you the best insight into whether you'll be accepted for lease finance.

There are several benefits of doing this:

No effect on credit rating – checking before your application enables you to see whether you'll be accepted without it leaving a mark on your credit report.

See your chance of approval – you'll see what your chances are of leasing a car within a few minutes.

Understand the finance costs – using this tool gives you an indicator of the finance available and what it might cost.

What credit score do I need to lease a car?

When applying for a lease car, it's best to have a credit score rated ‘good' or ‘excellent'. This gives you the best chance of securing finance for the lease.

However, it is possible to secure lease finance with lower credit ratings. In addition, some finance companies offer solutions for individuals with poor credit reports.

If you're unsure of your credit score, you can check with companies such as:

Our credit score guide provides further details on what's required for car leasing and how to improve your score.

What happens when I apply for a car lease?

The process for leasing a new car is simple and follows five easy steps:

1. Choose your new lease car and get a quote

Browse through our stock to pick your favourite vehicle. If you're looking for specific car brands, filter results to narrow the options. Here you can select optional extras, mileage allowance, first payment amount and contract length.

This will give you an insight into how much the car will cost monthly. From here, you can enquire about the leasing deal and get a quote from our team.

2. Secure finance and place your order

Once you’ve confirmed your vehicle, it's time to apply for finance. Again, a credit check will be performed, and your funding will be arranged depending on the outcome.

3. Sign the finance documents

Once you receive your finance agreement, just sign and return it to complete your order. The contract is often emailed and you can sign it digitally to secure your vehicle more quickly.

4. Take delivery of your new car

When the finance company receives your signed paperwork, delivery is then arranged with the leasing company. If it's an in stock lease car, it's generally delivered within two weeks. But you'll be notified of the expected arrival date if it's on order.

5. Enjoy your car

Upon arrival, you need to inspect the vehicle and confirm its delivery. Then you're ready to go!

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Is there an age limit for a car lease?

Yes, you must be aged 18 or over to apply for a lease car, as it involves a credit check.

Do I have to be in full-time work to lease?

While your income forms a part of the application process, it doesn't mean you need to be in full-time employment to take out a lease agreement.

Car leasing is open to anyone over the age of 18. So whether you're a student, retiree, in part-time employment or are self-employed, there are finance options available.

What information do I need to provide when leasing a car?

When applying for a car lease agreement, the leasing company and finance provider will need key information to complete your order.

You will need to provide the following:

  • Full name
  • Date of birth
  • Five years of address history, including whether you are renting or a homeowner
  • Contact telephone number
  • Email address
  • Marital status
  • Employment status and details
  • Number of dependants
  • Bank details
  • Income and expenditure figures
  • A copy of your photocard driving licence

Additional information you may need for your lease

In addition to the above information, you may need to provide proof of address. This is usually in the form of a utility bill, credit card statement or bank statement. These documents have to be dated within the last 90 days. You may also be asked for recent bank statements.

What documents do I need to provide when leasing a car?

Other information required

  • Marital status
  • Residential status, as well as your address history (over the last three years at least)
  • Details for the applicant's bank account that would be used for your monthly direct debits

This information will be used to help assess your creditworthiness and is required by the credit reference agencies for all credit checks carried out in the UK.

Occasionally, you may be required to provide additional information to support your application or help verify your identity, including:

  • Previous gross salary info
  • Household/partners income
  • Student loans etc.

These may be asked for by some funders when they're conducting their fact-finding checks and affordability tests to ensure that the agreement is suitable and that you are not stretching your finances beyond your means.

Do I need to send hard copies of the documents?

It may be possible to send electronic copies of documents for your car lease application. However, you may have to provide your proof of ID and proof of address as a hard copy as well as photocopies, although this changes from leasing company to leasing company.

Our support team will contact you should this be required.

How long does it take to check if I'm eligible for my lease?

Checking whether you're eligible for a lease car takes a matter of minutes using our eligibility checker tool.

The full application takes longer to complete but you may still get a decision regarding the finance agreement on the same day. In some cases, additional information is required, which is requested at the time of application. The decision is then communicated once everything is processed.

How does the eligibility checker not impact my credit score?

The eligibility checker performs a soft check on your credit report. This is a general look at your financial history and circumstances and doesn't affect creditworthiness.

You will see soft checks appear on your credit report. But they are not visible to companies looking at your score during a hard check. They also have no bearing on your score or future credit applications.

Do I need insurance to lease a car?

All lease cars are required to have fully comprehensive insurance when you take delivery. This can be arranged separately, or you can opt for our Fuel & Go inured leasing package, which includes insurance and maintenance during your contract.

For more information about insuring a lease car – check out our complete guide to car leasing and insurance.

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