Not all of our customers have the money to put down a large initial deposit (rental) when leasing or they simply may not want to. We are now able to offer no deposit car lease deals on our in stock vehicles. Historically, this was something only accessible to a few, no deposit car leasing has become more widely available. Were are extremely happy to advise we can offer No Deposit Car Leasing to anyone, providing they pass a credit check and are agreed by our finance partners.
Although no-deposit car leases are more widely available today, they tend to be reserved for people with excellent or good credit scores. This is due to a variety of factors. If you don't pay a deposit, you're entering a deal owing the lender significantly more than if you paid a larger deposit. Furthermore, you will need to prove that you can afford higher monthly payments. Generally, someone with a good or excellent credit score can demonstrate this.
| Benefits Of No Deposit Leasing | Drawbacks Of No Deposit Leasing |
|---|---|
| No lump sum to pay at the start of the lease. | Higher monthly payments. |
| Delivery included. | Usually only accept customers with good or excellent credit rating. |
There are more no deposit car lease options available than ever before, but they tend to be reserved for people who have good or excellent credit scores. There are several reasons for this. If you don't pay a deposit, you'll owe the lender a significant amount more than if you have paid a larger initial fee. It is also necessary to show that you can afford to pay larger monthly sums, and a person with an excellent or good credit score is more likely to be able to do so.
A car lease's initial payment is a lump sum paid to the leasing company after the car is delivered. By paying this initial payment, which is sometimes called a deposit, you reduce the amount you'll pay every month. With no deposit leasing you pay one month up front and then the same amount again each month for the remainder of your lease.
Yes. Our lowest initial payment we can provide on terms of 24, 36 or 48 months is just 1 month. This isn't a deposit however as you will not get this back at the end of your term. Although this may be a better alternative to putting down a larger sum at the start of your lease, it will make your monthly payments greater. The decision all comes down to what suits you best.