women in drivers seat of Dodge Charger 

Are you in the Chicagoland area and wondering if you can lease a new car with bad credit? While good credit will get you a better deal on your lease, even if you have bad credit, leasing should probably be the better option over financing, as the monthly payments are typically cheaper when you lease a new car. Let the financial experts at Elgin CDJR teach you more about leasing a car with bad credit below.

Apply for Financing Contact Us

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

Some of our customers come to us and ask, "Is it easier to lease a car with bad credit than good credit?" Unfortunately, the answer is no. Since leasing a new car requires a credit check, having good credit will net you a better lease offer. Better credit equals lower monthly payments and less money upfront. Still, even if you have bad credit, you may be able to get a lease on a car, albeit at a higher monthly rate.

Tips for Lower Lease Payments with Bad Credit

If you have bad credit but still want to get a new or pre-owned car, leasing might be your best bet. Here are some tips you should follow in order to get a lower monthly payment when you lease:

  • Before you even apply for a lease, check your credit score. This way, you will have a better idea of your financial situation.
  • Choose a car that is within your budget, and use online tools like payment calculators to see how much you can expect to pay on a monthly basis.
  • When you go to lease a car, bring with some pay stubs as proof of income. This way, we know how much you can afford and can suggest other possibilities.
  • Do your best to make a large down payment on the car. This can help you to get lower payments every month going forward and score you better lease terms.
man getting out of Dodge Durango

Lease a New Car with Bad Credit at Elgin CDJR!

When you come to Elgin CDJR, you can try and lease any of our new, used, or certified pre-owned vehicles whether you have good or bad credit! You can also apply for financing online right from our website, and contact us if you need more information on what the requirements for an auto loan are. For more on leasing cars, discover if it's better for you to buy or lease your new vehicle and what credit score you need to finance a car!