ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Do I Need Good Credit To Lease A Vehicle? What Your Credit Score Means.

Updated on November 12, 2010

Do I need good credit to lease a vehicle?  Believe it or not, this answer depends on many factors.  You see leasing has been growing in popularity for quite some time now. 

But before you put all your eggs in one basket, there are a few things you should know.

Let me explain exactly what I mean.

When you "finance" a car your intention is to purchase it.  Once the loan is completely repaid, you own the car. 

When you "lease" a car you are simply paying for the USE of the car.  In other words, you NEVER own it. 

During the lease you are responsible for the car's maintenance and upkeep and you are not allowed to sell it.

At the end of the lease, which can be anywhere from 2 to 5 years, you return the car. 

Keep in mind that some leases do allow you the option to purchase the car at the end of the lease. 

But here's the deal...a good credit score is the most important factor when you are considering leasing a vehicle. 

Don't hold your breath on getting approved by the lease company if your credit score is poor.

In short, every lease company requires that you go through a credit approval process before preparing a new lease contract.

Let me shift gears here for a moment.  There may be a way around this strict credit approval process.  Qualifying for a car lease when you credit is bad can work toward your advantage when the economy is not at its best. 

When dealers are hurting for business, it may be easier to get credit.  But understand that you won't get the vehicle dirt-cheap or with the best possible terms.

Usually a substantial down payment or deposit is required in order to secure the deal when you have poor credit.

Know this:  Lease companies look to extend credit to individuals who have credit scores of 660 or higher or 'A' or 'B' class credit scores.  As you can see, it pays to know your credit score before you look into setting up a lease agreement. 

All in all, the answer is YES to the question, "Do I need good credit to lease a vehicle?" No doubt it, an excellent credit score is the only way you will be able to lease a vehicle under the best terms.

So read the fine print before you make your move. You don't want to get caught putting the cart before the horse.


    0 of 8192 characters used
    Post Comment
    • profile image


      4 years ago

      I really like your writing style, great info, thank you for putting up cbdgakbbbkck


    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

    Show Details
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)