You Have to Find Companies That Provide New Car Loans Even If You Have A Poor Credit History

With the way the economy has beaten down the average working family, there are more and more people with bad credit. It is not always due to neglect. Sometimes things happen that are out of your control and your credit get ruined. That is where a non-status car leasing program can help you.

When a job is lost or the house hold budget gets tight there may be late payments, or even missed payments. Life gets out of control, and credit ratings are lowered or destroyed altogether.

To be sure, you are not alone in this struggle. Many people have been turned down and rejected when they seek help getting a car lease. It is embarrassing to get told that you do not qualify to get the car of your dreams, or even a car to take you to work and back.

To be successful, or to even survive and hold down a job, you need to have a car. This car could mean the difference between holding a job, and losing it. Transportation is needed to work, and you need to work to afford a car. It is a cycle that can be broken by bad credit.

Car Leasing Bad Credit

There is a way to rent a car when you have bad credit. With the tough times, companies have come up with a solution to the credit trap. When you need to have a car to continue or start a job, there are a few things that a non-status car leasing company looks at before making a decision about lease.

Here are two major areas that are used to make the decision whether or not to lease a car to you:

1 Proof of your identification

2 Proof of your income

Needing proof of identification is as simple as your driver's license. You need this proof to even begin to qualify for help in your quest to lease a vehicle. Proof of income is needed to make sure that you can afford to pay back any loan or lease that you receive.

Criteria for determining whether or not you are financially able to take on a lease will be determined by your income. In this new way of giving people a chance of having a car, no more than 25% of your income would be allowed in getting a car. This is as high as is allowed for payments. Any more than that that would be taking a risk that is too great for the lender.

Even if you have bad credit or a bankruptcy, getting a lease can still happen. With the non status idea, bad credit is not the main thing that is looked at. The ability, at the time you are seeking a lease, is what is considered.

These companies realize that everyone can come into bad times, and they deserve a second chance to overcome their bad credit. With non status car leasing you will get a second chance for a car, and in time your credit score will improve.



Source by Irfan Sherazi Uddin

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