FAQs

Is a down payment required to lease from Xcelerate?

No, if your goal is to come in with your first payment only out of pocket, as long as you qualify, 100% advance is available to you.

Does Xcelerate offer “corp only” lease options?

Yes, if your company qualifies without the requirement of a personal guarantor we can provide “corp only” lease terms on one or many vehicles for your business.

Can I terminate my lease early without penalty?

It depends on the type of lease you enter into. Some leases offer a simple interest payoff if you replace the lease with another however, as a general rule of thumb, most leases will have pre-payment penalties so you should discuss this with your leasing specialist prior to committing to a new lease.

Do you offer terms shorter or longer than 36 months?

Yes, we offer terms starting at 24 months and can extend to 72 months.

Does my credit need to be perfect to be approved for a lease?

Our programs are mostly available to good credit clients however, we understand there are sometimes unforeseen events that could effect your credit without being a direct reflection of your ability to pay so you should not be deterred from applying even if you have a few minor issues on your credit.

Can I lease a vehicle under my business and it not report to my personal credit bureau?

Yes, some lessors do not report the account to the credit bureaus of the guarantor. Be sure to request this when applying to ensure you are matched to the correct program.

Can a friend co sign for me on the lease?

No, only a family member or spouse can co sign for an applicant.

Can a business partner guarantee my lease even if he is not on our company organizational docs?

No, the guarantor must be shown on the org docs and/or have signing privileges.

Do the rebates I receive from the manufacturer carry over into the lease?

Yes, unless the rebate is available for purchases only in which case it would not transfer over. If you are not sure if the rebate will travel just ask us and we’ll get you the answer.