Can You Lease a Car with Bad Credit?

How Can I Get Car Financing with a Bad Credit Score?

As you shop for a new or used vehicle near Mount Vernon, you may be asking yourself “can I lease a car with bad credit?” Because car leases require a credit check, a good or excellent credit score is favorable. That said, bad credit car leasing is a distinct possibility – learn more with Victory Mitsubishi below!



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

As we noted above, due to the fact that car leasing requires a credit check, it’s typically easier to lease when you have good credit. Not only does it grant you lower monthly payments, but also a lower security deposit. With bad credit, a larger deposit will likely be required of you and you’ll probably have higher monthly payments. At the end of the day, however, you’ll still pay less than if you were to take out an auto loan. So, for those wondering, “can I lease a car with bad credit?”, the answer is “yes,” but you’ll have to take more of an initial hit.

Tips for Lower Lease Payments with Bad Credit

Here at Victory Mitsubishi, we’re happy to help New Rochelle shoppers with all types of credit scores get the best deal possible. We’ll even share tips for boosting your credit score! Take a look at our tips to secure lower lease payments if you have a bad credit rating::

  • Stick with your budget. If you have any questions about how much you’ll need to pay on a monthly basis, don’t hesitate to contact us!
  • Check your credit score before applying for a lease. That way, you’ll have a good idea of your financial situation before you get started.
  • If possible, make a larger down payment. Paying for the first few months upfront may help you to get better lease terms. Need help increasing your down payment? Value your trade-in to find out how much your current vehicle can get you.
  • Bring several months of pay stubs as proof of income. That way we know you can afford the lease you’re looking for.

Tips for Raising Your Credit

Of course, bad credit car leasing is not everyone’s first choice. You’d be surprised at how many simple factors can affect and improve bad credit. Here are a few tips for improving your credit so that you can lease a car even more easily:

  • What to do about missed payments: Even if you’re late on a payment, communication with the creditor is key. Quickly make up for lost time and after just a few payment cycles you’ll see a difference in your credit score.
  • Make Micropayments: Frequent weekly or biweekly payments are sometimes easier to manage than larger monthly payments and can help boost your score.
  • Request a higher credit limit: A higher credit limit can help improve a metric called credit utilization, which measures what percent of your limit your balance represents.

Lease a New Car with Bad Credit at Victory Mitsubishi

At our dealership near Westchester, the answer to “can you lease a car with bad credit?” is yes! Our finance experts are here to help you secure the flexible lease terms you desire, and our rotating selection of Mitsubishi lease offers can help you save. Visit us in the Bronx or call us at (718) 569-0048 with additional questions regarding our lease and finance options. We will also be happy to fill you in on bank vs. a dealership financing, the difference between used and certified pre-owned vehicles, and what’s covered by the Mitsubishi warranty, so come see us today!

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(718) 515-4600

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4070 Boston Road • Bronx, NY 10475

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Victory Mitsubishi

4070 Boston Road Bronx, NY

Phone: (718) 515-4600

http://maps.google.com/?q=4070%20Boston%20Road%2C%20Bronx%2C%20NY%2010475

Parts

Phone: (718) 515-4600

4070 Boston Road Bronx, NY

Sales

Phone: (718) 515-4600

4070 Boston Road Bronx, NY

Service

Phone: (718) 515-4600

4070 Boston Road Bronx, NY
40.8853426 -73.8287864
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Victory Mitsubishi
Victory Mitsubishi
4070 Boston Road
Bronx, NY, 10475 US
(718) 515-4600
https://di-uploads-development.dealerinspire.com/victorymitsubishi/uploads/2018/07/VictoryMitsubishiOGImage.png
Victory Mitsubishi 40.8853426, -73.8287864.