The specific amount of credit score someone needs to have a car is different from one dealership to the next. The typical amount for various dealerships is 620. A credit score between 620 and 679 is almost perfect, and a score between 680 and 739 is known to be okay by various automotive dealerships across the US. If you have a score of more than 680, you should receive some of the most competitive lease offers.
Things you should know before you go shopping for your new automobile
If you are stressed out about your credit score and thinking that it might stop you from actually getting the car lease you desire, you need to build your credit score.
A fast way to raise your credit score is by reducing your credit card balances. You should pay off as much of your credit card balance as soon as possible. Having a very high credit card balance could easily negatively affect your credit score. Having a balance lower than thirty percent of your credit limit could help you get a more appealing number.
It doesn’t matter what; you should pay all of your bills on time. Paying your phone bills, utility bills, credit card bills, and others on time indeed shows that you are entirely responsible for all of your finances. Payments on time always reflect positively on your credit score.
You should keep all your credit accounts open. The only time you should close them is when you need to close them. A reason which might make you close them is that there could be an annual fee that you might find difficult to afford. Apart from these reasons, you should keep your credit accounts open. The longer the credit account is open, the more positively you could use this account and have it reflected on your credit score.
It is genuinely possible that all of your credit reports have errors. You should also keep track of your credit history and make sure you check out all of your records using the records you have in your credit report to ensure that all of the things you have adds to appropriately. Make sure to keep an eye on your credit reports from the three Major Credit Reporting Agencies Experian, Transunion and Equifax. All major credit reporting agencies also have apps that you can routinely use to check your credit report. For a free credit report visit https://www.annualcreditreport.com/
The Car Lease Requirements
To quickly gain approval for your car lease, you need a favorable credit score. Having a score at or more than 680 would most likely help you quickly gain approval for your car lease. Having a score less than this number could easily cause you some issues whenever you check out the application process. Various lenders look at the numbers from credit scores which are highly associated with car loans, and these are used to get a strong understanding of your loan history.
What Happens in the presence of a low credit score of less than 680?
If your credit score is lower than 680, there are options to be approved and it’s best to consult this with your car leasing company after your initial credit application.
At The Vantage Auto Group, we save you time, money and peace of mind when it come to Buying your New Car!
No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps. With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.
There are many places to lease or purchase your next vehicle. The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!
Get Started Today With Your Personalized Car Quote from Vantage Auto Group!
Good credit, Bad Credit, or looking to get an approval, CONTACT US Today! We work directly with multiple lenders to find the lowest possible lease rate on a new car lease. Come banks will even help us offer short term lease as short as 12 months if not ready to commit to a 2 or 3 year lease. We can even help you get out of your current car with our swapalease lease transfer program. when using our swapalease program, you will no longer be responsible for your current car.
Price Reflects TIER 1 Credit Approval. Prices are for new lease vehicles only. Images are for Display purposes only. Price Excludes local taxes, acquisition fee & DMV/title. Pricing, lease term, and miles per year may vary. All Incentives are Applied For Qualified Customers including Loyalty Rebate, Conquest Rebate, VPP Rebates, College Graduation Rebates, and Regional Rebates.
No need to deal with the headaches of sitting in a dealership for hours on end and haggling with pushy sales reps. With our robust dealer network, we’re able to get wholesale pricing and guarantee the most competitive lease or purchase price on any new vehicle. We handle all makes and models, so you can be confident that we’ll find the perfect vehicle that fits your needs.
There are many places to lease or purchase your next vehicle. The products are the same regardless of the source. So it’s the people who make the difference. Our staff is passionate about what we do. We are all car enthusiasts and understand your excitement about finding the right vehicle at the best possible terms. Along with our enthusiasm is our commitment to be transparent about your lease / purchase and our pledge that all dealings with us be fair, and yes, even fun!
