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Can You Lease a Car with a Bad Credit Score?

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If you’re in need of a new vehicle to get around North Charleston but you’re not ready to invest in buying or financing a car, you may be interested in leasing. Car leases come with many of their own benefits, but what if you have bad credit? Can you lease a car with bad credit? Yes, you can lease a new car with bad credit. However, knowing what to expect before visiting a dealership can help you through the process with less stress. With that said, Rick Hendrick Chevrolet has put together this quick guide to leasing a new car with bad credit. Read below to explore our top tips before visiting our leasing and financing center in Charleston.

 

 

Is it Easier to Lease a Car with Bad Credit?

Getting approved for a new car lease may be more difficult with bad credit, but it could be easier than getting approved for an auto loan with bad credit. The notable caveats when you lease a new car with bad credit is that you’ll probably be asked to make a higher deposit, and your monthly payments will likely be higher than if you had good credit. Even so, you will likely still get a lower monthly payment than if you were financing the vehicle.

How to Get Good Lease Terms with Bad Credit

Wondering how you can get the best lease terms with a bad credit score? Check out these tips to get started:

  • Choose an affordable vehicle to help keep your monthly payments low. We have lots of budget-oriented new vehicles at Rick Hendrick Chevrolet, like the Chevy Spark and the Chevy Trax.
  • Review your credit history and know your exact credit score before visiting a dealership or applying for a car lease. Familiarity with your overall financial standing will help you advocate for yourself and get the best possible terms.
  • Make a significant deposit on the vehicle. If you’re able to provide the first few months’ worths of payments upfront, the dealership may be more inclined to work with you on your lease terms. If you have a current car you want to sell, the trade-in value can help you make a larger down payment for your lease.
  • Obtain proof of income dating back several months; this could be bank statements or pay stubs. If the dealership feels confident you can afford the lease, you’re more likely to get a good rate.

Can I Lease a Car with Bad Credit at Rick Hendrick Chevrolet?

Is it easier to lease a car with bad credit when you work with a Hendrick dealership like Rick Hendrick Chevrolet? We’re committed to helping Mount Pleasant and James Island drivers get behind the wheel at affordable prices. Contact us or apply for pre-approval to learn more about what we can do for you if you have bad credit. Additionally, don’t forget to review our current offers!

 

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Hendrick Vehicle Disclaimer:
$699.00 Closing Fee is not included in advertised price.

All prices exclude all taxes, tag, title, registration fees and government fees. Out of state buyers are responsible for all taxes and government fees and title/registration fees in the state where the vehicle will be registered. All prices include all manufacturer to dealer incentives, which the dealer retains unless otherwise specifically provided. Dealer not responsible for errors and omissions; all offers subject to change without notice; please confirm listings with dealer.

All vehicles may not be physically located at this dealership but may be available for delivery through this location. Transportation charges may apply. Please contact the dealership for more specific information. All vehicles are subject to prior sale.

 

Additional Disclaimers:


Well-qualified customers who purchase a new, used, or certified pre-owned vehicle, 4 model years or newer with less than 60K miles between June 3, 2024, and July 31, 2024, and finance through a participating dealer and lender have the option to defer monthly payments for 90 days from contract date. Finance charges begin to accrue on the date you sign the Retail Installment Sale Contract at the Annual Percentage Rate (APR) disclosed in the contract. May not be combined with other preferred lender financing offers. 72 months maximum term limit. Equal monthly payments only. Not available to Pennsylvania residents; see your dealer for details. Must take retail delivery by July 31, 2024. See dealer for complete down payment options and details.

*1.9% APR for 36 months. Monthly payment is $28.60 for every $1,000 you finance. Example down payment varies by model. Must finance with GM Financial. Down payment required at signing, if applicable.1.9% APR available for 36 months. 10% Off MSRP Based on an MSRP of $57,490. Must trade in a 2010 model year or newer vehicle. Not available with special financing, lease and some other offers. Take new retail delivery by 7/1/24.

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