Car Leasing?
What are the credit requirements of leasing a car. Do you have to have perfect credit? Can a lease payment change from one place to another on the same car? Is there a way to negotiate the lease payment?
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you don’t need perfect credit, but they might make you pay more money down. call around .
credit cards.no.yes depend on selling price ,rate,residual value.cash down,time period…24,36,48,60 months….
never never never lease a car super bad move get a beater, save your money and move up gradually otherwise you will be a slave to your creditors forever
Credit requirements for leasing and financing are no different, if you qualify for one in most cases you qualify for another. If your credit is very derogatory or very limited leasing may not be an option, because the banks that approve bad credit customers don’t generally have leasing programs. With the state of the auto industry today many lenders have become more lenient in their credit approval criteria, because everyone is fighting for a small pool of customers. So this is a good time for someone with marginal credit to try for approval.
Lease payments are dependent on 3 things essentially, price of car, residual value (end of term value) and money factor (or cost of funds to loan). Residual value is not negotiable, although you can change it based on the amount of annual mileage you require. The points of negotiation will be the price you pay for the car and what they charge you for the use (money factor), there is generally manuver room in either of those areas, so yes you can negotiate the payment based on what they are willing to sell you the car for and how much they mark-up the rate.