Can You Lease a Car with Bad Credit?

A question our finance center often gets is, “Can I lease a car with bad credit?” You can definitely lease a car with bad credit. In fact, it’s usually easier to lease a car with bad credit than it is to buy a car with bad credit. With that said, even though leasing is a great option for customers with bad credit, there still is a credit check. But all hope is not lost! Drivers from Chicago and Naperville should read below, the Valley Honda experts have written some important information for those wondering if you can you lease a car with bad credit!

Is It Easier to Lease a Car With Bad Credit?

Leasing or buying, it’s always easier to obtain a new ride with good credit. For leasing, good credit results in lower monthly payments and a lower security deposit. Bad credit, on the other hand, means the opposite: higher deposit, higher monthly payments. At the end of the day, leasing with bad credit still costs less than buying with bad credit.

Tips for Lower Lease Payments with Bad Credit

That great lease deal, even with bad credit, isn’t quite out of your grasp. For drivers from the Oswego area, the below tips should help you improve your chances of saving money when leasing:

• 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, that might allow for 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? Inquire at Valley Honda!

Our Aurora finance experts are ready to help you drive off the Valley Honda lot in a new Honda Accord or Honda Pilot. If you decide buying might be worthwhile, feel free to apply for financing with us before stopping by. You can also learn more about trading in a financed vehicle, what to do after buying a used car, how to get used car in-house financing, how to improve your credit score, or what’s good mileage for a used car. For more information on loan terms and conditions or even what to look for when buying a used car, call us at (630) 326-4645!