BadCredit.org suggests that the typical minimum credit score to be approved for a lease is 620; the best rates are available for lessees with credit scores above 660.
Can I lease a car with a 500 credit score?
Auto Leasing with Bad Credit
This is because there are some lending companies that will not look at a consumer if they have a score below 620. This means that you can lease a new car, even if you have a 500 credit score. Another option you can take is a lease to own vehicle, or sometimes called rent to own.
Is it harder to get approved for a lease or loan?
But if you can get approved for both a loan and a lease, then the choice becomes harder. “While buying a car for the long term can very well be more expensive, it’s easier to take out a loan than it is to lease on a bad credit score,” says Borghese.
What credit score do you need to qualify for GM Financial?
What do you need to qualify for GM Financial? Applicants with a credit score of at least 550 and up to 850 are eligible for GM Financial.
Does leasing a car require a credit check?
Leasing companies typically require a credit check on the drivers taking over the lease, but requirements may be less stringent than those for an original lease. Vehicle subscription services: Growing in popularity, dealer and third-party subscriptions services essentially allow you to pay to borrow a car.