Car Lease Approval. A car lease is a type of a loan. Getting a new car is a big decision, and you should choose your next vehicle carefully.
Getting a new car is a big decision, and you should choose your next vehicle carefully. Banks require good to excellent credit for lease approvals. Social security number for each applicant
On top of that, you may be required to pay a larger down payment with a low credit score.
If your credit score is on the lower end of the spectrum, you’re perceived as a credit risk. Very often, lessees go the leasing route to avoid a costly and protracted car loan; In order to gain approval for a car lease, you may need a favorable credit score. Leases are available for most new vehicles.