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Why leasing a car with a BKR registration is difficult

On November 2, 2020 written by Drs. Vera van der Vliet
  • Lawyer
Car leasing with negative BKR registration privately

Is it possible to lease a car with a negative BKR registration?

It is very difficult, and often impossible, to lease a car with a negative BKR registration. When you sign a new lease, your credit rating is assessed, and a negative BKR registration indicates late payments, which significantly reduces your chances of getting approved for a lease.

However, some leasing companies can assess individual situations. Still, the chances remain very slim, especially with a negative BKR registration.

A new loan with BKR registration

When taking out a new loan, your lender will look at your financial situation. This includes both your income and your current credit(s). If you cannot meet your financial obligations for an extended period of time, you will receive a registration with the Bureau of Credit Registration (BKR). This negative BKR registration can be very sour when taking out a new loan. Therefore, the options for a new loan with a BKR registration are very limited.

Private lease: here's how it works

If you don't want to buy a car, private lease is a nice concession. Private lease is the private leasing of a car, where the car is delivered as an all-inclusive package, so to speak. This allows you to enjoy your car without any further worries. Maintenance, repair and insurance are included in the lease. Your monthly charges are broken down as follows:

  1. The financial part
  2. The service part (tax, maintenance, repair and insurance)

If you want to lease a car, only the financial part is registered with the BKR. This is about 65% of the purchase amount. This looks like this:
If your lease contract totals €12,000.00, €7800.00 will be registered with the BKR (65%).

Want to learn more about leasing options with a BKR registration?

Effects of a BKR on the lease

When applying for a private lease, the lender will check with the BKR for your registrations. If it turns out that you have a negative BKR registration, the application will likely be rejected. This is usually true even with just one registration. Lenders assess whether it is responsible to take out a lease. This is done based on your current financial obligations. Financing a car with a negative BKR can therefore become difficult.

The disadvantages of installment plan

If you do not qualify for private lease, you can choose installment plan. This option, unlike leasing, is often possible with BKR registration. However, there are several disadvantages to this, namely.

  • Rent-to-own usually requires you to make a (hefty) down payment;
  • Interest rates are high;
  • Maintenance, repair and insurance costs are not part of the monthly payment. Private lease, on the other hand, is an all-inclusive package;
  • With private leasing, you can switch to a new car after the lease term ends. With installment plan , this option does not apply.
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Lender protection: what is possible?

Do you already have a BKR registration and want to take out a private lease on top of that? If so, lenders often take you under protection for this. Usually the combination of multiple loans creates heavy financial burdens and problems in your debt. This protection from lenders does not mean that a lease car is not possible at all. However, this does come with an expensive price tag. If you are willing to pay more money, the lender is often willing to grant you this financing.

Would you like more advice on this or are you curious if a BKR removal is possible in your situation? We are happy to look at the possibilities in your situation. Please contact us.

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