What is the lowest credit score do you have to have to lease a car?
May 25th, 2009
nurseisfabulous asked:
I’m in the market to buy another car. Currently driving a 2001 Lexus RX300 and the new has worn off. Was wondering if it was possible to lease a car with a less than perfect FICO score of 652. The only reason why I was considering is because I want to buy at least a 2003-4 BMW X5 but I prefer a brand new one but I don’t have the cash or dare need a car payment that high for a 45k vehicle! I’ve heard leases are generally only approved for people with great credit but I have heard of people with less than perfect credit leasing cars but I was wondering approx. with what score?
I’m in the market to buy another car. Currently driving a 2001 Lexus RX300 and the new has worn off. Was wondering if it was possible to lease a car with a less than perfect FICO score of 652. The only reason why I was considering is because I want to buy at least a 2003-4 BMW X5 but I prefer a brand new one but I don’t have the cash or dare need a car payment that high for a 45k vehicle! I’ve heard leases are generally only approved for people with great credit but I have heard of people with less than perfect credit leasing cars but I was wondering approx. with what score?
If you leased your RX through a leasing company then you might want to call and ask them if they have an X5 you could take over a lease on. If you leased through the Lexus dealer then locate a used X5 at a Lexus dealer and go from there. In either case, 652 is not so bad that you wouldn’t be able to lease another vehicle, especially if you are currently in a lease. I would also recommend calling a leasing company (not a dealer) to ask more questions and to locate the X5 you want.