Q&A for How to Lease a Car

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Question

What kind of credit score do you need for a car lease?

Bryan Hamby
Professional Auto Broker
Bryan Hamby is the owner of Auto Broker Club, a trusted auto brokerage in Los Angeles, California. He founded Auto Broker Club in 2014 out of a passion for cars and a unique talent for customizing the car dealership process to be on the buyer’s side. With 1,400+ deals closed, and a 90% customer retention rate, Bryan’s focus is to simplify the car buying experience through transparency, fair pricing, and world class customer service.

Bryan Hamby

Professional Auto Broker

Expert Answer

To lease a car, we recommend that you have a score of 620 or higher. Ideally, you have a score that is 720 or higher to get the best interest rate for a car lease agreement.

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Question

Can I lease another car, using the returned lease car as a down payment when its lease is up?

Community Answer

Yes, you may be able to do that based on the terms you agreed to when you first leased the car.

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Question

What is a sign-and-drive lease?

Community Answer

A sign-and-drive lease is an option offered by dealers where all you have to do is sign the contract and then you can drive away. Essentially, you are bypassing a down payment because it will be included in you monthly payments.

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Question

I have been leasing my car for less than a year, but am considering buying it outright, for cash, now. Is this something that is even possible?

Community Answer

Yes, that is definitely possible. Contact the dealership where you leased the car.

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Question

How do I lease a car?

Andrew Serrano

Top Answerer

Go to a car dealership, select the vehicle you would like, and ask what lease specials it has going on at the time. Most places have a menu of lease deals from which you may select.

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Question

Does the dealership perform a credit check when leasing a car?

Community Answer

Yes. You are still applying for credit, and you are still being extended a line of credit.

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Question

How long does it take to lease a car?

Community Answer

This all depends on the dealership, the day, the time of year, and you yourself. It usually takes at least an hour and may take more depending on your needs.

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Question

Is my new leased Lexus insured for the first 30 days by the leasing company from the date of my signing the lease?

Community Answer

No, you are in charge of getting the vehicle insured unless your lease states otherwise.

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Question

Can you lease a car (any car) for one day?

Community Answer

No. In most cases, you have to lease a car for at least three months. However, you can always hire or rent a car.

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Question

If I lease a car, will they take my current car as a trade-in?

Community Answer

Yes. Your trade will be taken into account in the final negotiated price on your new lease.

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