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How hard is it to lease a car with bad credit?

The complexity of your case and the path to getting a lease significantly depends on the credit score you have. The rule of thumb says the worse your score is, the worse terms of the lease you will receive.

In reality, every leasing company has its own rules and regulations as well as the threshold for leasing or not leasing a vehicle. However, if your FICO score is about 680, then you will get a fair deal in most cases. If your score is about 620, then you are almost at the bottom of the threshold; this means that you will get a lease yet under not that favorable terms (higher monthly payments, for instance).

In case your score is lower than 600, you will be considered a subprime leaser, and it will be significantly hard to get a deal. However, even with such a low credit score, you still stand a chance. You might need to get a more substantial down payment upfront, agree to the higher monthly payments and even be required to cover additional fee, yet in most cases, such a leasing agreement still becomes a better deal than a subprime loan for buying a new car.

 

Also, check:

Payday loans in Louisiana

Bad credit loans in Louisiana

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