Can You Lease a Car with Bad Credit?

November 7th, 2018 by

Investment broker meeting with a young couple in her office to discuss their financial needs, view from behind the agent of the couple

Can you lease a car with bad credit? With a little help from Rallye BMW, the answer is yes! Car leases will require a credit check, and having great credit certainly helps, but Roslyn drivers can take advantage of leasing because it often comes with a lower monthly payment than financing. Find out how you can start taking advantage of our lease and finance offers at Rallye BMW today!

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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. It results in lower monthly payments and a lower security deposit. Bad credit can require a higher deposit and higher monthly payments. However, you’ll still have to pay less than if you take out a car loan to buy a car.

Tips for Lower Lease Payments with Bad Credit

You may have bad credit, but Jericho drivers can still get a great lease deal. Follow a few simple tips:

  • Find a car within your budget to lease. Contact us to find out just how much you’ll have to pay on a monthly basis.
  • Check your credit score before you apply for a lease. That way you can have a better idea of your overall financial situation.
  • Make a larger down payment. If you prepay for the first few months, you may be able to get better lease terms.
  • Bring several months of pay stubs as proof of income. That way we know you can afford the lease you’re looking for.

Can You Lease a Car With Bad Credit at Rallye BMW?

For more information on leasing with bad credit, lease buyouts, and more, contact us! Our financial experts can help you qualify for that BMW 5 Series or BMW 3 Series lease offer.  If you have any questions about refinancing, we would be glad to answer them. We can also work with you to help you decide whether leasing vs financing is a better option.

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