Repairing Your Credit: 7 Steps to Take so You Can Get a Car Lease

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How Do I Repair My Credit to Get a Car Lease?

It’s possible to get a lease with bad credit, but it’s a whole lot easier if you have good credit. Lease credit approvals are down significantly this year, according to lease exchange marketplace company Swapalease.com. Only about two-thirds of applicants in September had good enough credit for approval.

New car leasing is different than car buying, as you’re only paying for the amount of depreciation that the car is expected to accrue during the term of the lease, plus fees. Leasing offers you the chance to get into a more expensive car than you might otherwise be able to, but the credit requirements are generally higher for lease customers than buyers. Lease deals from manufacturers are almost always reserved for customers with top-tier credit scores.

You can lease with bad credit, but you’ll often pay more in the long run than if you have decent credit.

So, how do you improve your chances of getting approved for a lease?

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