Leasing a car is a simple, hassle-free process at Clear Car Leasing not matter your age
Leasing a car rather than buying outright has become increasingly popular here in the UK, especially with new young drivers wanting to get out on the road in a car that’s brand new but also easy to budget for.
The age you have to be before you can go ahead and lease a car is 18 but this doesn’t mean that you should charge out of the house on your 18th birthday and sign up for a lease – there are a few things to consider beforehand.
Firstly, because you are young this normally means that you have no financial commitments to speak of, which can look good to some finance houses but also means you haven’t gained any kind of credit rating as yet. What this means is that a finance house has no idea whether you’re going to be able to keep up with the monthly payments or not on your lease car.
However, all is not lost as you could go through a guarantor if you still wish to lease a brand new car, this should make you eligible for a lease contract.
A guarantor is someone who is willing to take on your monthly payments in the event you can’t pay, meaning that if a payment can’t be made by yourself then the guarantor will have to pay it.
When you choose someone to act as a guarantor they must be over 21-years of age, have a strong credit rating and have no links whatsoever to you financially.
Most commonly a guarantor is generally a family member such as a parent, or a close friend but even a work colleague could act as your guarantor, so long as they meet the requirements above.
So, whilst there might be a few things to consider before leasing when you’re young, there’s no reason why you can’t make the most of everything that leasing a brand new car has to offer – even if it does mean a little help from friends or family!
For more information regarding our car leasing services and special offers please click here, or call us today on 01904 55 75 44.