Leasing with negative credit

Sep 13, 2012 by MccleeryMahone110

Have you been refused a vehicle lease? Odds are you have much less flawed credit
history. Know what’s involved and what you can do to develop good credit
background.

Credit score is a measure of your credit worthiness utilized by leasing agents
to establish whether you are eligible for a lease. You credit score is
based on your past and present credit history, and can range anywhere from
350 to 850. A measure above 720 is considered a “prime score” and will
land you the best prices. If you are below 640, then you are “sub-prime”
and will be regarded as poor rating by the bulk of leasing agents. This is
exactly where all the difficulty in getting that lease comes from.

Ask for your FICO Credit Score from the Fair Isaac Corporation (FICO)
which particulars your credit score held by all 3 leading credit score
agencies in the nation. Compare the three credit scores and decide if
any agency is holding erroneous credit information about you. Speak to the
reporting agency and getting corrected.
If there are no mistakes in your credit report, then you can take some
steps to maximise your score to go above the threshold of 640. Spend your
bills on time and pay down any credit card debts you have. Do not take any
new accounts as this may enhance the likelihood of you getting into bad
credit as a result worsening your credit score.

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