Question: What credit score is needed to lease a new car?

I just got this question about how bad credit affects the way we lease a new car:

Marcus, let me start by saying “GOD SENT YOU FROM CAR DEALING HEAVEN” and I regret dearly not coming across your site before.

I just leased a VW ATLAS and was simply disgusted by the mambo-jumbo tactics and utterly steal I was subject to. As I was hitting my head on the keyboard regarding down payments. However, I still have hope.

I am debating between 2017 Mazda 3 (Sport) vs 2017 Hyundai Elantra GT. Hyundai is making me thirsty for some of these amazing manufacturer incentives which can seriously bring the MSRP down.

My biggest concern is that the rent charge will skyrocket due to credit score. However, under Hyundai website, I was given the mini version of EQUIFAX (BLACKBOOK) and credit score was a lot higher (630 Capital vs 680 EQ black book).

This got me thinking that I wouldn’t be able to get a great deal as I had hoped to. Am I wrong to assume this? I have considered that these car dealers may “approve” my lease by Dec 28 but later calling and ask to take the lease back the first week of January (Read your tutorial on this maneuver as well?)

Thoughts?

Thanks for the hat tip. I appreciate the kudos on my KTL Leasing System

And I would not beat yourself up on seeing this blog earlier. The car industry (and their compromised “journalists”) ignore this blog (for obvious reasons).

Yes. The car industry knows the average shopper no longer visits 5 locations like our parents use to.

These days, we have been tricked into “researching” from home and visiting just one dealership. And this is EXACTLY why car sellers treat us with no respect. They have the car we want. They know we are too lazy to shop around. And this is how they hustle us for thousands extra. Evil genius, eh?

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