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, contact us! Our financial experts can help you qualify for that BMW 5 Series or BMW 3 Series lease offer. We can also work with you to help you decide whether leasing vs financing is a better option.

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