Wanted to just summarize some results from my friend car leasing this past week since I constantly see "Will I be approved?" on here... Really you should just start asking, how much extra will it cost me to have bad credit, because it takes EXTREMES to not get approved at least at some terrible level!!!
We started at VW 565 EX and 622 TU - They only use EX or lowest score pulled supposedly... it was approved at Tier D (VW Lowest) Tier A to B and B to C is only about $25/month extra per tier but from C to D was a full $100/month cost difference so if he moved forward with the lease he would have added $150/ month to any lease for bad credit.
Volvo: They were actually the only ones that couldn't get an approval before we decided to just lease something else.
Hyundai didn't get back to us quickly enough but didn't sound like approval would have been the issue.
Mercedes: He came in at a Tier 4 which was $58/month more than tier 1 but along with the extra tier costs he didn't get nearly the discounts I would have expected so I think the cost was actually closer to $125/month all said and done. They also use EX and they pulled 567 and TU 637. He leased a 2016 GLC loaner car (considered new still and just has 6k miles) with ZERO DOWN!
The reason for the zero down is because he is extremely upside down in his current car and finally Mercedes said they could get him approved if he just took the car to carmax and handled the negative equity directly so that's what we are doing.
Gardening until September 2025