Financial lease rejected?

Financial Lease rejected?

It may happen that a Financial Lease application gets rejected. This can have several reasons and depends on the individual situation. Here are some reasons why a Financial Lease application may be rejected:

• Credit score: In some cases, the applicant may not meet the credit score requirements set by the finance company. A negative credit score, outstanding debts or other financial problems may affect approval.

• Incomplete documentation: Failure to provide required documents, such as financial statements, VAT returns or income statements, may lead to rejection.

• Age of company: If you are a start-up company and just started out, this may make approval difficult as there may not be a comprehensive financial history to review.

• Object not eligible: In some cases, the vehicle you want to lease may not be eligible for Financial Lease. This may be due to the vehicle's age, condition or other factors.

At Lease.car we offer a second chance!

Rejecting a Financial Lease application is more common than you might think. Banks have strict credit score standards these days, but that does not mean all doors are closed. 

At Lease.car we understand the complexity of financial situations and do business with many different Financial Lease partners. As a result, we can often still be of value even after a rejection.

If your application is rejected, we are happy to offer a second opinion
We can look at your options and advise you on the best steps. We believe it is important that you are able to bear the monthly costs, both now and in the future. Sometimes, this might mean that the bank requires a larger down payment, or that we recommend selecting a vehicle that better fits your financial situation. We are ready to help you with this.

Many common reasons for rejection include:

• Too recently started the business

• Negative credit score (BKR registration)

• Negative records from bailiffs or collection agencies.

• Negative equity and/or working capital.

• Critical industry.

In short, there are plenty of possible reasons for rejection. Fortunately, banks differ in their underwriting standards. At Lease.car, we compare all conditions to help you get approved for your Financial Lease.

Request a second opinion right now, and we'll get back to you within 24 hours!