Bad credit is one of those stigmas that can follow you around for a long time, and it can be especially frustrating when you need to buy a car.
Does Bad Credit Affect a Lease?
If you have enough cash on hand for your down payment and other related leasing fees, your credit score probably won’t be an issue.
However, it will have an impact if you need to take out a loan. Lenders use a credit score to decide whether someone will be able to pay off debt. Lower scores could be perceived as a risk, which is why the interest rate may be higher.
No Credit Situations
Just as it can be tough dealing with a low credit score, the same is true when you don’t have any credit. Without any sort of history to look at, lenders will be wary, which could also result in a higher interest rate.
Leasing Improves Credit
Leasing could be your best option if your credit situation isn’t the greatest right now. When you make your payments on time for the duration of your lease, this will help raise your score or build your credit.
Regardless of your credit score (or lack thereof), we’re confident we can help you secure a loan and create a payment plan that fits your budget. If you have any questions or concerns about the leasing process, feel free to contact us. We look forward to helping you secure a Jeep Grand Cherokee lease soon!