Think You Won't Get a Short-term Car Lease? Think Again!

The benefits of a short-term car lease, and the freedoms and choices it can bring, not to mention the potential for saving money, have been well-documented.

But you may not have heard of non-status car leasing - arguably the most rapidly expanding sector of the short-term car lease industry.

Both private individuals and business users can find sometimes find they are not quite able to meet the strict underwriting criteria of the major short-term car lease companies.

Terms and conditions of finance acceptance on premium rate products vary for private customers and business users.

For individuals the criteria for taking on a short-term car lease usually include:

• Five years minimum address history
• Three years minimum employment history
• Being registered to vote at the address given
• No adverse credit history
• Proof of ID
• Three months of wage slips or bank statements

For businesses, the criteria can include:

• Trading history of at least three years
• Business bank statements can be requested
• Company registration number
• Management accounts can sometimes be used in lieu of certified accounts
• Director's address and employment history
A standard credit check is also run for both personal and business users.

With some short-term car lease companies running at a rejection rate of up to 40%, it is easy to see why companies who can provide non-status short-term car lease are seeing an increasing share of the marketplace.

It is not just customers with adverse credit history who can benefit.

New start companies are often overlooked due to their lack of trading history. Customers who have recently been divorced or unemployed can often find themselves turned down for finance due to a perceived increase in risk.

Those who have moved to the UK to work, including those in senior positions, also make up a significant percentage of non status short-term car lease customers.

Non status or adverse credit short-term car lease companies off-set the perceived increased risk of missed payments by making rental fees slightly higher and increasing the profit margins for each deal.

Often the provider will own the car involved in the short-term car lease, so if a deal does go wrong, the leasing company simply collects the vehicle and lets it out to the next customer. It is also rare for non status short-term car lease providers to offer brand new vehicles they mostly offer nearly new or used vehicles.

You can find out more about this sort of short-term car lease deal by going online. But if you think your credit history or personal circumstances mean you have to lose out on the benefits - think again

If you only need a vehicle for a short while, it may surprise you to learn that applying for a short term car lease may be a highly affordable alternative.

A standard car lease typically lasts 24 months. Any period shorter than a standard lease is considered a short-term car lease. A short term lease can occur when a lessee who is looking to get out of a lease (sponsor) hands it over to another individual who wants to obtain that lease for less than two years.

A short-term car lease has many advantages for the lessee. One relates to the deposit. If the original lessee has already paid a deposit on the vehicle, the new lessee is relieved of it. By having a short-term car lease, the new lessee can also save money on the insurance for the vehicle as it has already been covered by the original lessee. (Although if the vehicle was subsequently damaged, the new lessee would be responsible for covering the costs.)

A short-term car lease can mean the new lessee saves 30-60% overall rather than taking the very same car on loan with the same terms and same down payment. So clearly a short-term car lease can be a great bargain.

If you are looking to acquire a short-term car lease, the best place to start is the Internet. There are many online companies who specialise in bringing lessees and leaseholders together, and who will help to arrange the transfer of the vehicle to the lessee.

If you feel you cannott afford to lease out a brand new vehicle through a standard lease agreement of 24 months, why not sort out a short-term car lease online? Even though the vehicle may not be the newest, you would be surprised how well a short term leased vehicle can be overall. With no deposits, and money saved on insurance, you are keeping a lot more money in your pocket. The chances are you will get a great bargain using a professional and reputable online company specialising in lease assumptions and transfers.

The best way of finding the company that matches your needs is to do some research online. Find out what they offer, the fee they charge, and think about whether their lease deals are exactly what you are looking for.

Also remember that even though you may need the vehicle quickly, you still have to complete all necessary paperwork before taking on your short term car lease. This helps to avoid any possible issues regarding the short-term car lease.