Does Credit Impact Your Jeep® Lease?
All day, every day, we’re surrounded by numbers. Price tags, spreadsheets, phone bills and Sammy Sosa’s lifetime batting average, however, all pale in importance next to your credit score. Your ability to qualify for a Jeep® lease will be determined by that number, so it’s important to understand where it comes from, and what you can do about it.
How Credit Impacts Your Jeep Lease
No matter what kind of Jeep financing you’re trying to get from Zeigler Chrysler Dodge Jeep RAM, be it a lease, new car loan, or used car loan, we start with a credit check. It’s calculated on a number of factors, including your income, a history of timely payments, and how much of your available credit is currently in use.
That three-digit number impacts the financing process in three important ways:
- Your eligibility to lease a new Jeep SUV
- The average percentage rate, or APR, for new, pre-owned, and Jeep Certified Pre-Owned vehicles
- The kind of Jeep lease and finance offers for which you’ll qualify, since these are extended to “well-qualified buyers and lessees”
The Jeep Financing Process
Since the finance process starts with a credit check at our Schaumburg, IL Jeep dealership, why not get a head start? You qualify for a free credit report from each of the three credit bureaus once a year.
Obtain yours, understand your credit score, and check for errors. Clearing those up will help your score, as will paying down credit cards and loans that are referenced in the report.
More Help with Jeep Financing
Your credit score is important, but it’s only one part of the equation. Because of this, we offer tools to value your trade-in, pre-qualify for a loan, and even estimate monthly payments.
If you’ve run the numbers and things aren’t looking great, stop by anyway; we work with a number of lenders, so even if a lease isn’t in the cards, we can still suggest alternatives that will fit your life and your budget.
Alternatives to Jeep Leasing
Bear in mind that poor credit isn’t the only reason to reconsider an auto lease. Mileage is another; a long commute or anything else that causes the miles to add up can lead to penalties. So is wear and tear, which may leave you feeling constrained if you had dreams of taking your new Jeep Wrangler far off the beaten path.
Our suggestion? Visit Zeigler Chrysler Dodge Jeep RAM and talk to our finance department. We’ll look at the big picture, evaluate all the variables, and help you come to a decision you’ll be happy with.
