If you lease a car with bad credit, it will almost always be the case that you will pay more than a person with good credit. This protects the banks that lend you money. That's why if it is already hard to gather extra money for your typical budget, you should only lease a car or SUV with bad credit if the situation is really urgent. Look at your transportation choices to determine if you have alternative options like fixing your current vehicle, carpooling with friends or coworkers, or riding the bus for several months or more while you work on lifting your credit. Just a handful of months of paying bills on time can boost your credit score. If you are able to keep from buying or leasing a car for a month or two, you might end up with a high enough credit score to get a lower interest rate.

Don't just assume have a low credit score. Find out for yourself what your credit is like now, what has affected your credit, and make sure there's no suspicious activity on your report. Then, have your credit report with you when you speak with the finance staff at Sheehy INFINITI of Annapolis. They might be able to work with you conditional on the reason for your low credit score. Keep in mind that you can get a complimentary credit report once annually.

Interest rates are usually lower for briefer leases, which means that you will end up paying less for your car or SUV while you are leasing it. This also means that when you are no longer making your monthly payments, you can focus on paying off other loans and continuing to boost your credit score before your next purchase. Then you can think about leasing another car with a lower rate, or buying one with INFINITI financing plans, and getting the best interest rate available.

You might think that an earlier year model car will cost less, but in fact interest rates are higher on vehicles from many years ago. Consider browsing for leases on brand new cars first, then newer pre-owned cars, since these are the cars that normally have the lowest interest or lease rates. Remember that some states forbid leases on pre-owned vehicles. Work out the best lease offer you can, given how much you are able to afford to spend on your monthly payment. It's still possible that you could find a more favorable offer on a used car, so make sure to check out all of your options before making your final decision, and signing your lease agreement.

Conditional on your finances, having a cosigner for your lease may be the best choice to get a lower rate. Think about looking for a cosigner if any of the following apply to you:

• You have bad credit.
• Your income is lower than the minimum required.
• You don't have a fixed income.
• You have a high debt-to-income ratio.

Cosigning on a car lease can be a huge responsibility. The cosigner will be accountable for making payments on your behalf if you aren't able to, so only get a cosigner if you are sure you can make your payments on time. If you are able to make your monthly lease payments, getting a cosigner can help lower the sum you have to pay on your lease. We hope answering these common questions has been helpful. If you have additional concerns about leasing a car with a low credit score, just give our INFINITI finance experts a call at (888) 257-6979.