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How It Is Still Possible To Lease A New Car Even If You Have A Bad Credit History Record A lot have people have suffered greatly due to the economic problems that we are facing and have ended up with a bad credit record. Even with this poor credit history it is still possible to obtain a lease on a new car if you know what to do. Many people actually need a car for various reasons, but the truth is that plenty of them have a bad credit history, so leasing a car is not as simple as they wish it would be. Leasing companies are also aware of the fact that many individuals have had their credit history stained because of the economical crisis and that is why they have set up special leasing programs for clients with poor credit. With that in mind, in the following paragraphs this article will focus more on car leasing bad credit. Getting your own credit report and credit score Before people will manage to lease the car of their dreams, they'll first of all need to obtain their credit history. Luckily, this can be done easily and free of charge at one of the 3 top credit bureaus out there (Trans Union, Equifax and Experian). The credit history report will contain all past and current loans, mortgages, credit accounts, etc which will give people a clear picture of their credit worthiness. The credit "score" is basically the FICO score, which is a single number ranging between three hundred and eight hundred and fifty. This can be obtained for a few extra dollars. Know what to expect Having a bad credit history, people should expect to pay a higher down payment when leasing a car, but also offer a security deposit and pay higher interest rates. For individuals who have a very bad credit history, it's best if they consider several dealerships and inquire about the likelihood of their credit score being approved for a lease. For non status car leasing individuals, it's best to try and meet this criteria, as it's the only way through they'll eventually be able to get approved. Taking a few months for saving money and improving credit score It's true that some need a car, but they will not actually need one right away and that is why it's recommended for them to take a few months in order to save money and thus improve their credit score. To do so, they have to decide on the amount of money they can afford for a monthly vehicle payment and set that amount aside each month. During this time, regular payments on any credit accounts should be maintained, in full and on time.


Considering different dealerships Requests for credit scores and reports will affect the FICO score little by little, so those who already have a subprime score will suffer the consequences even more. However, there is a way around this and it involves people making their inquiries unnecessary by bringing their own score along. This means that they should bring their score to the dealership and show it to the finance director and not allow him to perform a credit check until striking a deal. Lenders specialized in subprime loans Last but not least, people who have trouble getting approved through dealerships may want to consider a subprime loan. On top of that, individuals may also get better rates if they arrange a pre approved loan with a subprime lender. It's very simple and it can be done through internet lenders that specialize in financing vehicles for individuals who have a poor credit history. With that being said, by following these tips, people will have a better idea on what they need to do to lease a car even if they have a bad credit history. Resource A few years ago it would have been virtually impossible to obtain a lease on a new car if you had a less than perfect credit rating. But times have changed and now you can arrange car leasing with bad credit http://www.msg-nonstatuscontracthire.co.uk by simply making an application to specialized companies that can help you with this process. Many financial companies have realized that a large number of people have been affected by the recession and have ended up with poor credit records because they lost their jobs. Rather than turn them away they have come up with a process to provide leasing opportunities to these people.


How it is still possible to lease a new car even if you have a bad credit history record