Companies offering instant loans or quick loans often know that people will avail
these types of car leasing simply because they want to drive their car ASAP. The ASAP attitude as it is called in the leasing industry is what really ruins peoples credit and not dubious lenders.
How to avoid dubious lenders?
The key to avoiding a dubious lender is knowing the characteristics of one.
Mostly lenders that offer interest rates, which are too good to be true, are dubious and so there is something that they are not telling you. If you know what the government set rate is then you will also know that no lender can go below this rate, so if you see lenders offering interest rates, which are below this government, or federal set rate it means that there is something they are not telling. Usually these types of lenders will have tons of hidden charges, which you are only going to find out once it is time to pay your first bill and by then it is too late for you to do anything. What many people should do is to not get tempted by these so called great offers but rather look into what they are offering very quickly and then move on to find another lender as this will ensure that you do not get stuck with company car leasing that you are not able to pay off.
Know your personal finances
The other great way to avoid a fraud is to know where you stand on the financial scale. This means that you should know exactly what your finances look like and what your credit statement says about you. Using a company car-leasing calculator you can find out for sure if you can afford the car you want to purchase. If you see that you are unable to meet or can barely meet the monthly installments for the vehicle you should hold off your purchase, save for a down payment or find a cheaper car to purchase. All of these three options will work out better as opposed to you biting the bullet and trying to get a company to lease the car to you.
Company car leasing is an excellent choice for anyone wanting to buy a new car but you should never be in a hurry. The more time you take to understand how everything works the better position you will be in to find something which is easy to pay off and which in the end will add a few points to your credit history making it easier to find cheaper credit.