With the way the economy has beaten the average working family, there are more and more people with bad credit. It is not always due to negligence. Sometimes things happen that are out of your control and your credit is ruined. That’s where a non-status car lease program can help you.
When a job is lost or the household budget is reduced, there can be late payments or even missed payments. Life spirals out of control and credit ratings are lowered or completely destroyed.
You are certainly not alone in this fight. Many people have been turned down and turned away when seeking help getting a car rental. It’s embarrassing to be told you don’t qualify for the car of your dreams, or even a car that gets you to and from work.
To be successful, or even to survive and keep a job, you need a car. This car could mean the difference between keeping a job and losing it. Transportation is needed to work, and you need to work to pay for 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 tough times, businesses have found 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 stateless car leasing company looks at before making a decision on leasing.
Here are two main areas used to make the decision whether or not to rent a car from 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 search for a vehicle lease. Proof of income is needed to make sure you can pay back any loans or leases you receive.
The criteria for determining whether or not you are financially able to accept a lease will be determined by your income. In this new way of giving people the opportunity to have a car, no more than 25% of their income would be allowed to get a car. This is as high as is allowed for payments. More than that would be too great a risk for the lender.
Even if you have bad credit or are bankrupt, you can still get a lease. With the idea of no status, bad credit is not the main thing that is looked at. Capacity, at the time you are looking for a lease, is what is considered.
These companies realize that everyone can go through bad times and deserve a second chance to overcome bad credit. With stateless car leasing, you’ll get a second chance at a car, and over time, your credit score will improve.
