Lexikon: credit checks (Bonitätsprüfung)
Credit institutions such as banks or leasing companies perform checks on their customers' credit worthiness before agreeing to a loan. Normally this is done by obtaining information from their customers' bank or the German credit data agency "SCHUFA". Such checks are a must for any reputable leasing company.
They can greatly reduce the number of non-performing loans. This is to the advantage of customers with a good credit rating since non-performing loans add to the total cost of a leasing company, which of course has a considerable effect on leasing conditions. Thus credit checks lead to more favourable rates for all customers.
To deal with commercial customers X-Leasing normally requires information provided by the company itself, its bank and credit rating agency "Creditreform". For private individuals information provided by yourself, your bank and credit data agency "SCHUFA".