Contract Hire for Bad Credit

Contract hire is the term used for car leasing in the UK and tends to indicate that the end user is a Business as opposed to a personal customer – though not always! Typical Bad Credit Contract Hire deals are spread over 24 – 48 months time and will usually include the road fund licence also. All UK models of car are available on a Contract Hire as there are many funders who are able to place a New or Pre-Reg vehicle onto a Lease deal so it doesn’t just require the actual manufacturer offering the finance. With many Business customers the main appeal is that the costs are fixed and the car can be simply handed back at the end without having to worry about selling the vehicle or pay a final balloon payment for example. Contract Hire for Bad credit is an option that we can look at here ar MSG Cars and will normally require two full months business bank statements along with the director or owners personal ones. Many customers choose this route as they are unable to prove their personal income if for example they use the Limited Company Banking as a personal account or for example if they take only a very small monthly wage when the company accounts are much higher. The majority of deals require a 4 months initial payment and once a deal is approved we can usually secure delivery within 5 days to the customers work or home address. Reasons that many Business customers on Contract hire have bad credit are factors such as personal bad debt, previous failed businesses or CCJ disputes.