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How do I lease a BMW with bad credit?
I think my credit is pretty bad, but I really want to buy a BMW; it’s my dream car. Can I lease a car like that with bad credit?
Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Great question! It’s not impossible to lease a BMW with bad credit, but it will be significantly more difficult. However, you still have a couple of tricks up your sleeve.
First, you’ll want to figure out your credit rating. You’ll usually need a credit score of at least 700 to lease a car. If your credit score is lower than 700, it’s possible that you won’t be able to get the car you want.
However, some leasing companies specialize in leasing cars to people with bad credit, meaning that you’ll just have to find the right dealership.
Additionally, manufacturers often release new models at the end of the year, so dealerships will want to get rid of older models to make room for the new merchandise. As a result, this is a good time to shop for a car if your credit is bad.
You can also try getting a cosigner for your loan, or making a large down payment to improve your chances of getting the lease you want.
If you’re trying to save up for a new car, one great place to cut costs is your car insurance. The
Jerry
app makes it easy to compare rates and coverages—we’ll get you customized quotes from top-of-the-line providers, so that all you need to do is pick the plan that works best for you. And if you do choose a new plan, we’ll help you switch over, too!Best of luck, and happy shopping!
MORE: BMW Car Buying Guide
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- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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