FREQUENTLY ASKED QUESTIONS

What is “Non-status” leasing?

Non-Status Leasing simply means that each proposal form received is dealt with on a case by case basis and not just purely credit checked through creditsafe and Experian.

Our underwriters are fantastic at looking at each individual or company application, looking at bank statements and making sure they the vehicle is affordable. This way, our short term products are open to more and more people and companies.

We look at everyones case differently and we have an extremely high acceptance rate for our short term products, with the majority getting standard terms on the contracts. Should you have alternative terms and you show us a good paying history, the terms would revert to standard terms.

New start businesses can also fall into the Non-Status category. They are overlooked by the major lenders as they typically don’t have any accounts filed or balance sheets. Our team can help, sometimes we may ask for Directors Guarantees or even a bond.

So how do we offer Non-Status? We offer our own vehicles on our own books, we take the risk. If we don’t like the look of an application and the evidence doesn’t stack up, then please don’t be offended by us saying no. It doesn’t happen often, but it happens.

 

Equalease Short Term Cars Ltd t/a Cocoon Vehicles Ltd are authorised and regulated by the Financial Conduct Authority (711074). We act as a credit broker, not a lender. We can introduce you to a limited number of lenders who may be able to offer you finance facilities for your purchase. We will only introduce you to these lenders. We may receive a commission payment from the finance provider if you decide to enter into an agreement with them. You may be able to obtain finance for your purchase from other lenders and you are encouraged to seek alternative quotations. If you would like to know how we handle complaints, please ask for a copy of our complaints handling process. You can also find information about referring a complaint to the Financial Ombudsman Service (FOS) at financial-ombudsman.org.uk

 

For complaints information when a transaction is completed online, please access the Online Dispute Resolution platform at http://ec.europa.eu/consumers/odr