Can I Lease a Car with Bad Credit?

Car loan papers

Have you been wondering if it is possible to lease a new car with bad credit? If so, you are in luck. While you will have to undergo a credit check to lease, and you will get a better deal the higher your credit score is, that doesn’t mean leasing is out of the question. If your credit is less than ideal, leasing may be beneficial because your monthly payments will likely be lower than they would if you financed your new car. If you would like more information about leasing with bad credit, the team at Jennings Volkswagen is here to help.

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

Because a new car lease requires a credit check, it’s usually easier to lease with good credit. The better your credit score is, the less expensive your monthly payments and security deposit will be. For Chicago drivers with bad credit, expect to pay a higher deposit and higher monthly payments. The benefit of leasing a used car with bad credit is that it is usually a more affordable alternative to financing a new car.

How to Secure Lower Lease Payments with Bad Credit

Wondering how to get the best lease possible with bad credit. These handy tips can help you save on the car of your dreams:

  • Be sure to stick to your budget. Don’t lease a car with more than you need.
  • Find out what your credit score is before visiting the dealership.
  • If you are able to make a larger down payment, do so. It can help to lower your monthly payments.
  • You should bring several months of pay stubs as proof of income. That will help us determine if you are able to afford the lease on the vehicle you desire.

Can You Lease a Car With Bad Credit at Jennings Volkswagen?

The finance department at Jennings Volkswagen is happy to work with you to help you find a lease option you can afford. If you have additional questions about the car leasing process or any of the new vehicles on our lot, you can contact us at any time.

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