The Pitfalls of Leasing a Car When You Have Bad Credit
Leasing a car can be a great way to get a new car every few years without having to deal with the hassle and expense of selling your old car. However, if you have bad credit, leasing a car can be tricky. Here are a few things to keep in mind if you're considering leasing a car with bad credit.
First, it's important to understand that your credit score will likely affect the terms of your lease. For example, you may be required to make a larger down payment or pay a higher interest rate than someone with good credit. Additionally, you may be limited in the types of cars you can lease. So, if you have your heart set on a specific make and model, leasing may not be the best option for you.
Second, remember that missing payments on your lease could damage your credit score even further.
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