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Can I Lease a Car with Bad Credit?

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A common question for those recovering or trying to build up their credit score is whether or not they can lease a new vehicle, Planet Honda is here to assist you in answering that question. And the answer is yes, you can lease a car with bad credit. The rates and options can vary depending on the lender. Getting a car lease does require a credit check, so getting the best deal is easier with excellent credit. Leasing, however, can be a solid option for customers with bad credit. Leases usually have lower monthly payments than what you can get with financing. Denver drivers and other nearby drivers can find out about leasing with bad credit with our team today.

Can You Lease a Car with Bad Credit?

Usually it is easier to lease a car with good credit, because the process does require a credit check. Thus, the result of leasing is a lower monthly payment and a lower security deposit. However, bad credit may mean that you have a higher deposit and higher monthly payments. And yet, you will find leasing will still allow you to pay less than if you were to take out a car loan and purchase a vehicle. 

How to Get the Best Price with Bad Credit

Even if you do have bad credit, customers from Lakewood and Arvada have been able to find a great lease deal with our team at Planet Honda. Check out some of our tips to get the best price:

  • First you will want to find a car that is within your budget. You can contact us today to find out how much you’ll have to pay on a monthly basis or check out our payment calculator.
  • Be sure to check your credit score before you apply for your lease. This can help you to get a better idea of your overall financial situation.
  • Make a large down payment. Explore the idea of prepaying for the first few months, as this could help you get better terms on your lease.
  • When you come in to discuss the price and terms of your lease, be sure to bring several months of pay stubs as proof of income. This can help us give you the best price possible when you are trying to lease a new car with bad credit.

Is It Easier to Lease a Car With Bad Credit at Planet Honda?

Leasing a car with bad credit requires the same amount of work as leasing a car in general. We have experts on our staff that are eager to help you qualify for a lease that works for your budget. Additionally, if you find that financing is a better option than leasing for you, we are happy to assist you. Hopefully, we can also help you avoid high interest rates on your auto loan. If you are looking for more information on loan terms and conditions, call us today or apply for financing online! You can stop by the dealership near Arvada and Golden today.

 

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