Can you lease a new car with bad credit?

A

alex 008

Member
My credit score is sitting between 580 and 610. My uncle, who has solid (possibly excellent) credit, is willing to cosign for me. What would be the smartest route to take with this setup?
 
You can lease with a score in the 580–610 range, but it’s gonna be tough without a cosigner. With your uncle backing you, you’ll likely get approved, but probably not with the best terms
 
If your uncle’s got good credit and is cool with cosigning, go for it. Just don’t screw him over. Missed payments hit both of you
 
you might want to consider buying a used car instead. Leases can be unforgiving with fees, and bad credit means higher money factors
 
Yeah, it’s possible but expect a higher money factor basically interest on a lease unless your cosigner has super pristine credit. Dealers see <620 as subprime. Your uncle could really help you score a better lease term if he cosigns.
 
I used to work in F&I (finance & insurance) at a dealership...absolutely yes with a cosigner like your uncle you’ll qualify. But be careful if you default, it hits his credit hard. Make sure you’re 100% confident on payments.
 
I sell Hondas. Just leased a Civic to someone at 595 with a cosigner. Down payment helped too. You’ll probably need $2–3K upfront though unless it's a manufacturer incentive deal.
 
Don’t put your uncle in that position unless you’re 1000% sure you won’t miss a payment. Cosigning is basically co-owning the debt.
 
Honestly with that setup, go for it. Leasing with a cosigner is waaaay better than financing solo with bad credit. Just make sure the monthly fits your budget tight.
 
Been there. Leased a Corolla with my sister cosigning. Credit was 605. Worked out fine, but i triple-budgeted every month so i’d never miss a payment.
 
Check with credit unions! They sometimes have leasing programs with better terms for lower-credit borrowers. Not always advertised.
 
Make sure your uncle knows it’s not just his signature......it’s his credit line, too. A lot of people don’t get how risky cosigning is.
 
Hey i get it. Leasing with bad credit is tough. Just please don’t jump at the first offer. Some dealerships prey on low-credit folks hard.
 
Make sure to read the lease terms—especially mileage limits, wear-and-tear clauses, and the residual value. A lot of people get screwed when they return the car.
 
If your credit score is sitting between 580 and 610, leasing a new car might be tough without a cosigner. But since your uncle is willing to cosign, that can definitely help get you approved. Just be aware that your interest rate will probably be higher than someone with good credit. It’s smart to shop around for the best deal....some dealerships specialize in bad credit loans.
 
With that score i wouldn’t get my hopes up too high. Cosigners can help but you’re still looking at paying through the nose in interest rates. Might be worth checking if buying a used car would save you more in the long run.
 
I’ve been there...bad credit, hoping to get a decent car deal. The cosigner definitely helps, but keep in mind they’re on the hook if you miss payments so it’s a big responsibility. Do your research to make sure you can handle the payments so it doesn’t end up affecting both your credit and your uncle's.
 
YES Cosigner is your golden ticket. I did the same thing a few years ago and it worked out fine! Just be sure to keep up with the payments to avoid ruining both of your credit scores.
 
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