Is it easier to lease a car with bad credit, or should you buy instead? Buying is often easier, but if you’re sure that you want to lease a new car with bad credit, our financing team can help! If you’re wondering, “Can I lease a car with bad credit?”, the answer is probably yes, at least in some cases.
Read on to find out how to improve your chances of approval and learn more about the reasons that many Philadelphia-area drivers with bad credit choose to purchase a used vehicle instead.
Bad credit scores are those which fall between 300 and 579. It is very difficult to lease a new car with bad credit, since a leased vehicle doesn’t work as collateral in the same way that a purchased vehicle does. However, even scores as low as 600 fall within the average range for U.S. buyers–so the new vehicle you want to lease just might be within your reach!
If your credit falls within the bad or fair range (580 to 689), there are several things you can do to improve your chances of approval:
Since you’d only be holding on to the vehicle for a few years, your first instinct may be that leasing is easier than buying a new car. But is it really easier to lease a car with bad credit than it is to buy? Most experts suggest otherwise, for several reasons:
So, can you lease a car with bad credit at BMW of Turnersville? A lot is up in the air, but you’ll benefit from working with our team of financing experts. Make the next steps as easy as they can be by valuing your trade-in or calculating your monthly payments today!