Many drivers think that they can’t lease vehicles if they have poor credit. Here at Fields Volvo Cars Northfield, our customers come to us with this concern all the time, which is why we thought we’d address the topic today. If you’re in this situation and are looking for a Volvo S60 lease, here’s what you should know.
The Role of Credit in Leasing a Volvo
If you have ever bought anything that requires monthly payments, you have probably been subject to a credit check. This is because credit is usually analyzed to figure out if someone can pay back a loan over time.
If your credit isn’t great, you should still be able to lease a car, however. At Fields Volvo Cars Northfield, we understand that financial difficulties happen, so we will work with you to get the lease you need. It should be noted that lower credit scores can sometimes result in higher interest rates, but there are still ways you can address this, including:
- Raising your score. If you can wait a little while before leasing your Volvo sedan, think about ways to boost your credit score. For example, paying off or consolidating your debt could be a big help.
- Having a sizable down payment. Lenders typically favor buyers who put down more money, which could also help you get a lower interest rate.
- Using a co-signer. Having someone on your lease who has great credit can help lower your interest rate and make the whole process easier.
Don’t let your low credit score prevent you from leasing the car you want. Come down to our Volvo dealership near Chicago to get more information on leasing. You can also complete everything online and have your Volvo S60 delivered to your home.