Can You Lease a Car with Bad Credit?

Many Cherry Hill drivers are asking questions about their lease options, but few questions are as common as “Can I lease a car with bad credit?” Acura Turnersville is here to help you sort out any of your leasing questions, and we’ve got the answer to this question, too. So, can you lease a car with bad credit? While a strong credit score is useful for any leasing prospect, whether it’s a new or pre-owned Acura, it’s far from impossible to lease a new car with bad credit. See how your Maple Shade commutes can get their upgrade as we bring you the answers below.

Getting Lower Lease Payments with Bad Credit

While bad credit may be prohibitive for many loan offers without a cosigner, it is possible to lease a new car with bad credit. Read on below to learn how to fit your budget and your vehicle needs into a great lease:

• It’s best to check your credit score through the bank or one of the credit reporting agencies before you apply for a lease. This will give you a fuller picture of your financing or lease options.
• Consult your budget closely to find a car that fits your Medford needs. Also, look into leasing specials that may put your favorite model within reach.
• A larger down payment can help reduce your monthly payments. Much may depend on whether you can prepay for the first few months, as this can help you secure better lease terms.
• With several months of pay stubs, you can prove your income. Even if you want to lease a car with bad credit, proving your ability to pay will put you in a stronger position.

Visit our finance department for more car buying tips, from answering “Can I lease a car with bad credit?” to “How do I refinance a car loan?”

Is it Easier to Lease a Car with Bad Credit Than Good Credit?

Is it easier to lease a car with bad credit? It depends on what you’re comparing it to. Good credit always provides assurance to the lender, because it shows that you will have a higher likelihood of making your monthly payment. A lower monthly payment usually comes with credit that is considered “good” or “Prime”. It will also likely come with a lower security deposit. Still, leasing with bad credit can often be easier than financing with bad credit. Bad credit or no credit at all may require you to pay a higher deposit and make higher monthly payments. To answer “Can you lease a car with bad credit?” you’ll want to consider if you can afford the higher monthly payments associated with it. Nevertheless, leasing will mean lower overall payments than if you were to take a loan out to finance a car.

Leasing with Acura Turnersville

However you plan to upgrade your Sewell travels, the specialists at Acura Turnersville are here with the expertise to get you behind the wheel of your next model. Explore more of our car buying tips from our Turnersville team, or simply contact us to learn the finer points of how leasing works.