Can I lease a car with terrible credit???

Question

I am in the military and I am getting stationed in Alaska. I will need a vehicle while I am down there but I dont want to purchase one and have to deal with selling it around christmas because that is when I deploy to afghanistan.

Any help is appreciated. Thanks

Answer 1

There is a lease type that would allow you to have a car while considering your credit amount. This is what is called a subprime lease. You can ask your dealership if they offer that kind of lease.

Answer 2

I'd be aware of car dealers that offer auto purchases--even if you have "bad' or no credit; they snag you with high interest.  Even if you DO pay off the note, there's no guarantee that will improve your credit.

Inquire about short term leases w/ reasonable monthly payments.  Explain your military situation and hopefully, they'll draw up a contract that suits both you and them.

Car rentals is an option I'd look closely into---but likely isn't a good option, given their weekly rental rates and fees.

Answer 3

You cannot get a lease or a smartbuy program with bad credit.  I am a manager at a dealership and we will not even think about those programs unless we see a credit score of 680 or higher.  There is a lot of red tape when it comes to a lease so be careful when looking for one and make sure you ask about the balloon payment if any at the end of the lease when you turn it in.  also ALWAYS buy a higher mileage lease!

Answer 4

You still will have a credit check with a lease.  Most people can get car loans today with any credit, however, your interest rate will reflect your credit score...be careful!