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Can I Lease a Car with Bad Credit?

Credit History Document

 

Wondering if you can lease a new car with bad credit? Capital Ford Winnipeg is here to guide you through the car leasing process. While you can lease a car with bad credit, the terms and rates offered will be directly influenced by your credit score. That being said, leases typically offer lower monthly payments than financing. Learn more about leasing with bad credit in this guide from the experts in our Finance Centre, then stop by our dealership in Winnipeg to review your options today!

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

Since a new car lease will require a credit check, you can expect lower monthly payments and a lower security deposit if you have a good credit rating. Conversely, bad credit can require a higher deposit and higher monthly payments. However, no matter what your credit history may be, you will still pay less to lease vs. buying a car.

Tips for Lower Lease Payments with Bad Credit

Even if you have bad credit in the Selkirk area, you will be able to find a great lease deal at Capital Ford Winnipeg. Here are a few tips on how to get the best price:

  • Choose a vehicle that is within your budget to lease. Our convenient online payment calculator can help you determine what your monthly payments will be..
  • Check your credit score before you apply for a lease in order to 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 at Capital Ford Winnipeg?

The finance team at Capital Ford Winnipeg will help you qualify for a lease that works with your budget while filling you in on options such as a lease takeover. If you decide that financing is a better option than leasing, we can assist you with avoiding high interest rates on your auto loan. Make sure to explore our new vehicle specials to find some of the best deals in the Steinbach area. Please feel free to contact us online for more information on lease and loan terms and conditions, or better yet, visit our lease and finance centre near Winnipeg today!

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