Bad Credit Auto Lease

Bad Credit Auto Lease

With the downturn in the economy the major auto manufacturers are building up large volumes of inventory which they need to shift if they are to keep their plants running and keep employees in work.

This situation is forcing the auto manufacturers to consider making a bad credit auto lease in situations where they would have been unwilling to in previous times when the economy was in better shape.

Bad Credit Auto Lease-Down Payment

bad credit auto leasePutting down a large down payment on a bad credit auto lease will ease the concerns of the leasing company. In most new car lease situations it is actually an arm of the auto manufacturer who will provide financing for the bad credit auto lease.

Bad Credit Auto Lease-Co Signer

Consider having a co signer who has good credit to sign the bad credit auto lease with you. It will be very helpful for you in your search for a bad credit auto lease if you can convince a relative or friend with good credit to co sign the lease with you. The draw back in this scenario is that if you default then your relative or friend will have the late payments or missed payments on their credit report just the same as if they had actually missed the payments themselves.

If you are going to ask someone to co sign for a bad credit auto lease make sure that you will be in a position to make all the upcoming monthly bad credit auto lease payments. Also remember that in an auto lease situation you will get a tax bill on top of your lease payment every year. This can be a large amount depending on the value of the car leased and also the tax rates in your state.

Bаd Credit Auto Lease-Interest Rates

It is a very good idea to shop around for the best rates when considering a bad credit auto lease. Try not to have your heart set on a particular model or manufacturer. It is possible that you will find that certain dealers will be actively trying to move inventory and will be more inclined to give you a good deal.

Bad Credit Auto Lease-Dealers

Lastly try to shop the dealerships close to the end of the month when they are trying to attain monthly sales figures or quotas. They might be inclined to give you a great deal on a bad credit auto lease just so as they can reach their monthly targets.

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