You may be able to take out a car lease with bad credit if you can demonstrate that you can afford the monthly payments and are open to consider other options to improve your chance of being accepted for a car lease deal, such as paying a higher initial rental or having a guarantor. Although ultimately the decision will be down to our leasing partners, who have varying criteria, therefore this is likely to differ between them.
Does Car Leasing Require a Credit Check?
Yes, as our leasing partners need to be confident that you'll be able to meet your monthly payments, which is why they'll need to test your creditworthiness through a credit check. They'll guide you through it every step of the way for a stress-free experience. This will most likely be a hard credit check, so you may see a temporary dip in your credit score.
What Credit Score Do I Need To Lease A Car?
To lease a car or van, our leasing partners typically require at least a good credit score to take out the lease. If you have a credit score of 700 and above on the FICO credit check score, you will certainly be about to get food car lease offers. Anything above 670 on the FICO scale is seen as good credit, and if your credit score is below this then you may face some challenges. Therefore, this figure may be a good basis and goal to work towards before applying for a car or van lease and it may be a good idea to check your credit score to see where you are in comparison to this figure. That said, our leasing partners and their funders have varying criteria when it comes to adverse or bad credit car leasing and some may be more lenient than others. In some scenarios, a funder may still allow a car lease for a person with a lower credit rating if they are able to prove they can afford the monthly payments, or potentially paying a higher upfront amount. If you have spotted a deal you like on LeaseLoco, you’re probably best to have an open and honest chat with our leasing partners to see what they can do.
Can I Lease A Car Without A Credit Check?
Unfortunately not. Our leasing partners will require a credit check to be passed before being able to offer you a lease deal as this is the best way for them to determine whether you will be able to make the monthly payments. Don’t be mistaken by ‘no credit check car leasing’ as these will certainly be misleading. The BVRLA states that all BVRLA leasing broker members adhere to FCA rules and will carry out credit checks, and those who don’t may be out to scam you – so be wary! Even though a credit check is required, the best thing to do is have a conversation with our leasing partners about your circumstances and see what they advise as they may well be able to assist you, even if it's just pointing you in the right direction.
Ready to Lease Your New Car?
If you have a good credit score, you will be likely to be accepted for a car lease, although if you are looking for a car lease with bad credit then it’s worth finding out what our leasing partners can possibly do for you. Now that you have read all about car leasing with bad credit, you can search and compare the millions of car lease deals available at LeaseLoco to find the perfect deal for you and make a free enquiry with our leasing partners. If you’re new to leasing and have some more questions, feel free to read our FAQs which you may find useful as it covers the most common questions asked about leasing with LeaseLoco. If you have any additional questions about searching for your perfect lease deal, give us a message on our available live chat and we will be happy to help.