Can I Lease a Car with Bad Credit?

If the question of “can you lease a car with bad credit?” has ever crossed your mind, you’ll be happy to know that the answer is a resounding yes. That said, if you have plans to lease a new or used car with bad credit in the Corona area, you’ll be subjected to a credit check. This can affect the rates you’ll be looking at paying. You can learn more about what you can do to lower your rates and whether it is easier to lease a car with bad credit or finance one. While you’re here, see what lease specials are currently available at BMW of Murrieta!

Is it Easier to Lease a Car with Bad Credit Than to Finance?

“Can I lease a car with bad credit?” You’ll often hear drivers in Riverside asking this question. Some drivers may have an easier time finding a lease for a new car with bad credit than trying to finance. This is because it is less risky for a dealership to offer a temporary lease instead of a long-term loan. That being said, bad credit still means higher monthly payments for leases, and a larger down payment upfront. Even still in the majority of cases, this is a more cost-effective option for Ontario drivers with low credit than a car loan with high interest rates.

Tips for Lowering Your Lease Payments

If you have chosen to lease a new car with bad credit, there are a few protective measures you can take to help lower your per month payments. These ideas are often vital when you are trying to find out if you can lease a car with bad credit:

  • Make sure you know what your credit score is before applying for a lease.
  • Make a larger down payment if you have a subprime credit score. This helps you to negotiate a lower monthly rate.
  • If you are rebuilding your credit and are financially stable, bring proof such as pay stubs and bank statements. This will help to reassure the dealership that you can make consistent payments.

Can I Lease a Car With Bad Credit at BMW of Murrieta?

Is it easier to lease a car with bad credit or take out a car loan? Can you lease a car with bad credit? BMW of Murrieta is here to help make the answers to your questions easy by providing you all the tools and information you need. Our finance department will sit down with you and explore all of your options to find the best fit for your budget. Contact us today to speak to one of our expert staff, or to schedule a test drive of a new car. Looking for ways to improve your credit score? We’ve got you covered, visit our finance team for more information.

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