Bad Credit Car Leasing Tips
When you look at all those car commercials, you might get the impression that all those manufacturers and dealers are basically ready to do anything to make you buy their car. This is true only if you don’t read the fine print; somewhere at the bottom of the screen/ad, you’ll probably see that certain car is “subject to credit approval”. Of course the dealerships and car manufacturers will compete with their counterparts, but they aren’t going to sell or lease their products to just anyone. Anyone with bad credit knows this for sure. But, bad credit car leasing is possible! Keep on reading to get more info on it!
First of all, being realistic is a must in this situation. So, don’t look for expensive cars if you obviously can’t afford them. Even if you think you could get some nicer vehicle, try to look for inexpensive ones. The cheaper the option, the easier it is to qualify for it. In addition, monthly payments are significantly lower. Don’t push yourself to the maximum end of your monthly budget.
When to look for a car for lease? It is usually easier to get financed at the end of the year when dealers get brand new models and are motivated to move inventory. Also, don’t be tempted to jump at the first dealer who approves a bad credit car leasing. Getting the best deal requires patience and shopping around. Try to get quotes from as many dealers as possible. When you find a vehicle you would like to have, it’s recommended to use other leasing quotes to your advantage. The competition between dealerships might help you qualify for a car you would have been turned down because of a bad credit.
Did you know that every credit inquiry slightly lowers your credit score and dealership is going to run a credit check every time a client qualifies for a lease? How can you avoid it? It’s a good idea to get a copy of the credit report and to take it to any potential dealer.
Finally, if you prove that your monthly income allows you to pay both other bills and a monthly lease, you’ll be more likely to qualify for leasing a new car.