 TITLE: How to Negotiate a Car Lease CONTENT: How Does My Credit Score Affect My Ability to Lease a Car?\n----------------------------------------------------------\nWhen you apply for a car lease, the leasing company will pull your credit report and scores to assess your creditworthiness and make a lending decision. Generally, the best interest rates go to those with excellent credit. Aim for a credit score of 700 or better before applying for a lease to get the best deal. According to Experian's State of the Automotive Finance Market report, the average credit score for new-car lessees was 729 in the second quarter of 2020.\nIf your credit score is considered fair or worse (below 670), leasing may be more expensive or not possible. You may also be limited to a smaller selection of vehicles. Purchasing a used car may be a better deal if you're in this situation. You can also find dealers who work with customers who have bad credit.\nAnother strategy to consider is taking time to improve your credit score before applying for an auto lease. Here are some tips to help you get started:\n*   Pay all your bills on time to prevent late payments, collections and charge-offs from hitting your credit report.\n*   Get current on any past-due accounts and take care of charge-offs that are already on your report.\n*   Pay down your credit card balances to improve your credit utilization ratio.\n*   Keep old credit cards open as they can lengthen your credit history and help bring down your credit utilization.\n*   Use Experian Boost™† to have utility bills, cellphone payments and other bills added to your Experian credit reports. Once they're on your report, those on-time payments can factor into your scores, potentially giving them a lift.\nTake a look at our detailed guide to learn more about what you can do to lift your credit scores. END