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Can I Lease a Car with Bad Credit?

Are you dreaming of leasing a new MINI for cruising around San Francisco and Oakland? If your credit isn’t so great at the moment you may be a little worried, with questions like, “Can I lease a car with bad credit,” coming to mind. Rest assured, it’s absolutely possible to lease a new car with bad credit – you just might have a higher security deposit and monthly payment. East Bay MINI is committed to helping every customer who visits us in their quest for a reliable new vehicle. Learn more about bad credit leasing, below.

Is It Easier to Lease a Car with Bad Credit Than to Finance?

Can you lease a car with bad credit? Yes. But is it easier to lease a car with bad credit? No matter where you go, good credit will always earn the most favorable rates and terms. However, if you compare bad credit car leasing to bad credit auto loans, you may very well find that it’s easier to get a lease with bad credit than it is to get a loan. This is largely because car leases are contracted with a dealership, which will generally be more forgiving of bad credit than third party lenders.

How to Secure a Good Lease Payment with Bad Credit

When you lease a new car with bad credit, you might be required to put down a higher security deposit and agree to a higher monthly payment than if you had good credit. Still, you can look forward to a lower monthly payment than if you were to get an auto loan. With this in mind, here are some quick tips to help get the most favorable monthly payment on a bad credit car lease:

  • Lease a car that is under budget. You can estimate and compare payments for your favorite options using our monthly payment calculator.
  • Know your exact credit score. This will help you get a clearer picture of where you stand financially before seeking to lease a new car with bad credit.
  • Offer a big security deposit. The more you can pay upfront, the more favorable your lease terms may be.
  • Show that you’re financially stable. Dealerships understand that a person’s credit score doesn’t reflect their entire situation. It is easier to lease a car with bad credit if you can provide a few months of pay stubs as proof of stable income.

Can You Lease a Car With Bad Credit in Pleasanton?

Livermore drivers hoping to lease a new car with bad credit will find friendly, understanding associates at the East Bay MINI lease and finance center. Visit us in Pleasanton or contact us to learn more about your options!

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East Bay MINI 37.700250, -121.876910.
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