Can You Lease a Car with Bad Credit?

Finance Paperwork with Glasses
 

When you need a new vehicle to get yourself around Detroit and Royal Oak but you have bad credit, it can feel like a barrier that stands between you and a safe, reliable ride. But, your ability to lease a new car with bad credit is more likely than you think, especially when you work with an understanding dealership like Ray Laethem Buick GMC, Inc.. Our leasing and financing center is ready to help you, regardless of your credit history. So if you’re asking yourself, “Can I lease a car with bad credit?”, learn more about the process below.

 

 

Is it Easier to Lease a Car with Bad Credit?

It depends on the lender. Some places are more open to helping individuals with bad credit than others, since there is more risk involved for the lender. At Ray Laethem Buick GMC, Inc., we want to work with you and help you improve your credit situation, so we’re prepared to help you lease a Buick, GMC no matter what your credit history is like. 

How to Get the Best Terms When You Lease a Car with Bad Credit

Now you know that it’s still possible to lease a car with bad credit, but at this point you might instead be wondering, can I lease a car with bad credit and still get good terms? The lease terms, of course, won’t be as stellar as if you had good credit, but there are some things you can do to ensure you get the best terms possible. Keep these tips in mind:

  • The larger the down payment you can make, the better. It may help reduce interest, and will help you bring down the monthly payment amount.
  • If you have time to plan ahead, spend a few months doing things to improve your credit before you start the car lease. This can include paying off smaller debts you might owe and combing through your credit report to ensure there are no mistakes; if you find a mistake, you should dispute it to get it removed from your credit report. 
  • Often, it’s an unexpected life event that can impact your credit but doesn’t reflect your overall financial habits. Our team understands that, and it’s part of why we’re eager to work with you through any situation. If you can, bring us some proof of income and anything else that can show you’re a financially responsible person. You never know how the information you provide can help you get better terms. 

You Can Lease a New Car with Bad Credit at Ray Laethem Buick GMC, Inc.

Want to learn more about guaranteed credit approval at our dealership? We’re happy to chat and provide more car-buying tips. Stop by our dealership anytime or contact us! We’re not far from Farmington Hills, and our team will be happy to help you.

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Ray Laethem Buick GMC, Inc. 42.4016, -89.918.