Can You Lease a Car With Bad Credit?

can you lease a car with bad credit

You may be wondering, “Can you lease a car with bad credit?”. The answer depends on your credit score. If you have a bad credit score, you will likely receive a lower lease offer, requiring a higher down payment and monthly payments. Even if you can qualify for a lease, it is not likely to be the first car you consider, so you should make some effort to repair your credit score before leasing a car.

Leasing a car with a poor credit score is not impossible, but it’s not easy. You’ll never get the advertised low lease payment. Lenders have categories for credit scores and tiers for them. While a credit score of six hundred and seventy is considered good enough for a lease, it may be harder to find a dealership. In fact, some leasing companies are automakers’ finance arms, so if your credit score is lower than that, you might have a hard time securing a lease.

Another way to get a car with bad credit is by having a cosigner. This person could be a family member or a friend with excellent credit. While the cosigner would not co-own the car with you, they would take on responsibility for your payments if you fail to make them. However, this requirement might deter some people. If you don’t have a cosigner, you can still lease a car with bad credit.