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Before you can get approved to lease a car, the dealer will check your credit score. According to Experian, the average credit score among consumers who leased a car in the second quarter of 2020 ...
For those seeking to lease a car, a good credit rating will help lower the money factor. To understand the money factor in terms of an annual percentage rate, or APR, multiply it by 2,400.
The average lease payment for subprime borrowers, or individuals with credit scores between 501 and 600, was $638, compared to $579 for super prime borrowers with credit scores between 781 and 850.
Experian provides an overview of credit scores among auto loan borrowers using a review of anonymized and aggregated consumer data as compared to those without auto loans.
To lease a car, you only need to make a down payment followed by affordable monthly payments for the term of the lease. Follow these strategies to get the best deal. ... Follow these strategies to ...
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