Wondering if I could be able to lease with a credit score of 550 will put $5,000ish down. Not looking for any additional upgrades/ self driving/etc.

[Jfynn23]

Hi there,

Looking to lease a Tesla Y. Wondering if anyone has any insight on their experiences. I have a credit score of 550. I'm willing to put down $5,000.

Thanks so much.

 

[Jfynn23]

I'm not looking for the lowest possible monthly payment. I understand with my credit history that wont be an option. Just looking to see if anyone ahs some info on if I would even be approved.

Thanks!!!

 

[jjrandorin]

I'm not looking for the lowest possible monthly payment. I understand with my credit history that wont be an option. Just looking to see if anyone ahs some info on if I would even be approved.

Thanks!!!

Probably not, not with that credit score, and that cap cost reduction. You would probably need to be willing to put more like 20k to 25k down as a cap cost reduction (what you are calling a down payment), to even get that considered.

You are probably about to get a bunch of responses telling you that you shouldnt even be considering this, so I am going to preemptively tell people who intend to respond to be respectful with feedback.

 

[Jfynn23]

Thanks so much I really appreciate it.