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06 May, 2012

Can you arrange leasing to companies in a CVA

Hi Richard When you enter into a CVA you must surrender all your forms of credit (i.e. credit cards etc.) and you will not be allowed to obtain any further unsecured credit until you have finished your CVA. You are however, entitled to use pre-paid cards. The bottom line is, if you are in a CVA, it is highly likely your credit rating is not in good shape. By entering into an CVA, your company will not have a bad credit rating forever and when you have completed your IVA, your credit rating will begin to repair itself if you keep up your repayments. However, to do this you will need to approach what's known as sub-prime finance lenders, some of them do van leasing, they charge a higher interest rate to reflect the higher risk. It is then by using these lenders and paying all your repayments on time that you can rebuild your company's credit history and eventually build your history back up to a point that you will again be accepted by prime lenders (the ones that charge you the lowest, or a 'normal' rate of interest). Hope that helps Richard. Andy

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About Andy

Andy has worked in the motor trade and more specifically been involved in supplying finance for vehicles, coming up to 20 years. He started his own business www.autorama.co.uk in 2004 selling used vehicles before expanding the company via its comercial vehcle leasing business in 2006. Back then the leasing business was pretty much just him, a laptop and a portakabin. Now just six years later Autorama through it's online brands vanarama.co.uk and pickuptrucksdirect.co.uk is recognised as the largest independant commercial vehicle leasing broker in the UK.

The last six years have seen continued growth and resulted in the company now employing 32 staff. Being able to offer some of the most competative rates in the country as well as industry leading levels of customer service have played a big part in our growth. However it is our ability and moreover our expert knowledge in this sector that has allowed us to best advise and therefor better serve our customers.

Every customers needs are different and there are so many options available that it's easy to see why people get confused by either inaccurate or simply poor advice. We are here to help and advise you so whatever your query, no matter how big or small your business or how complicated your situation seems. let us answer your van leasing questions.

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