Did you know you might not be able to sign a lease with bad credit? This is true in many places. There are so many people who are checking credit scores now to determine a person's financial stability. It used to be that the only time your credit score was checked was when you applied for a loan or bought a house. The times are changing.

Now your credit history can be pulled for many reasons. Direct TV and Dish Network both run a credit check to determine what your deposit will be when installing satellite television. Other utility companies, like the telephone company, or electric company also do credit checks to determine deposits.

Some employers will check a credit file to determine if the job applicant is trustworthy. Many banks will not hire someone who has filed bankruptcy or had other financial problems. Some other companies are the same way. Usually these are companies in which the job applicant will be handling money or would be in charge of finances.

There are certain parts of the world, like in the UK, where someone who has filed bankruptcy cannot hold a position in parliament. Credit files are becoming more and more important in every day life.

Certain housing complexes will do a credit check to determine if you have ever been evicted. When trying to get a lease with bad credit, your chances may be limited. Other landlords are becoming stricter when it comes to screening tenants. Being able to check an applicant's credit file allows the landlord to see if there are past utility bills or other rental obligations the potential tenant had problems with. The credit file has become almost as important as a background check or police file.

When you apply for a lease, bad credit can lower your chances of getting it. However if you do not have bad credit and it is the credit history that was cited as the reason for denial, ask questions. You can obtain a copy of your credit report. This will allow you to see what others are looking at when it comes to your credit history. You can see if there is any information on there which should not be.

You have the ability to challenge any false or wrong information, but you must do so in writing. The credit reporting agencies are obligated to start an investigation to determine if the information is wrong. While the investigation is going on, the information will be removed from the credit history. If the information is found to be wrong, it will stay off. If the information is found to be accurate, the information will be put back on your file.

When you are denied a lease because of bad credit, you can take some action. Explain to the landlord the circumstances pertaining to the bad credit, lease for a shorter term to show your credit worthiness, or find a complex which does not require a tenant credit check. http://www.protect-your-credit.com can help you get started with your research.

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All the talk lately that some automakers are discontinuing or reducing the availability for leasing their vehicles has some consumers in a quandary. After all, not everyone wants to actually "buy" a new car, preferring to rent one for a limited time before trading their car in. Leasing has grown to become a significant option for new car shoppers, but due to the rapid declining value of some vehicles, has become an unattractive option for financing companies, particularly those owned by the respective automakers.

Chrysler Discontinues Car Leasing

Chrysler made news earlier this summer when the company announced that they were getting out of the leasing business completely. Other automakers haven't been as rashly restrictive, but many have changed their leasing plans accordingly. This means that in many cases you'll have to put more money down in order to lease and pay a higher monthly payment -- changes which can impact your financial situation.

Because these changes have some consumers concerned, it is important for you to learn which automakers are providing leasing options to you. Furthermore, taking a closer look at the financial agreement you'll be signing when you lease will help you determine if leasing is right for you.

Top Ten Most Leased Cars

In July 2008, the following vehicles were in the most demand for leasing, according to LeaseTrader.com which tracks this information:

1. BMW 3 Series
2. Mini Cooper
3. Toyota Camry
4. Mercedes C Class
5. Cadillac CTS
6. Lexus RX Series
7. Lexus IS 250
8. Mazda CX Series
9. BMW X Series
10. Mercedes GL Class

Virtually every vehicle featured is a luxury model for the simple fact that they usually retain their value the best. The Mini Cooper is owned by BMW while the Mazda CX Series is one of the top selling crossovers available today while the Toyota Camry is the top selling car in America. The remaining models each appeal to high net worth people.

Ultimately, what this means for you is this: if you lease, your choices are much more limited than they were a year ago. Buying may not be option for you, but there are some vehicles which can still be leased without draining your wallet. Of course, if you've had your eyes on a Chrysler 300, then considering a car such as the Cadillac CTS could be the best way for you to go.

Copyright 2008-2012 -- Matthew C. Keegan is the owner of a successful writing and marketing business based in North Carolina, USA. He manages several websites and is a contributing writer for Andy's Auto Sport, a retailer of quality mufflers and exhausts.

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Dealers offer many different financing options these days and one of the most popular is a lease... but leases can be confusing because they use terms like money factor, and you get to pick how many miles you drive. Lets start at the beginning.

What Is The Money Factor?

The Money Factor is the interest rate in a lease. Where in a typical loan you might get 6% interest rate, that would equate to a money factor of 0.0025. This number is achieved by dividing the interest rate 6 by 2400. You can convert the money factor to a percentage by multiplying it by 2400. So if you are presented with a money factor of 0.00375 you could quickly find out that equals 9% interest. Money factors change depending on the term of the lease and the type of vehicle, so check around for the going rate.

Why Does The Payment Change For Different Lease Terms?

First mistake people make is figuring that the longer the lease the lower the payment. This is not always the case. There are many different factors that make up a lease, one of them being the term. The term of the lease (24 months, 36 month, 48 months) changes the depreciation amount of the car. Since a lease price is determined, for the most part, by the depreciation, the longer you own the car the more it will depreciate. Cars depreciate quickly the first year you own them and also the longer you own them. You will sometimes see that you can get a shorter lease term for less money then a long lease term. The typical "sweet spot" of the lease is around 30 - 36 months. This is usually where the best rate is found, but always get a few quotes for multiple terms so you can see as different cars have different "sweet spots"

Why Should I Care About The Miles I Put On A Car?

Once you have picked the car, and determined the lease term that works for you, the sales agent will probably ask the amount of miles you will be putting on the car. Most leases that you see advertised are for a small amount of miles, usually 10,000 or 12,000. This is something that dealerships will try to make sound very important, and often convince you to increase the pre-paid miles to 15,000 or more. This is only something to worry about if you intend to just turn the car in when you are finished with the lease. If you plan on purchasing the car at the end of the lease, or decide to trade it in for another car, you will end up wasting money, since part of the depreciation of the car is rated on the miles you "intend" to put on it. Which is why if you change from a 12,000 to 15,000 mile lease, your monthly payment will go up. Keep in mind what you intend to do at the end of your lease.

Most consumers do not just turn in their current lease, they end up buying another car and using their current lease as a trade-in. So you see, paying extra money for miles on a car is really not worth it for most consumers. By learning just these three things you can walk into a dealership with the understanding and knowledge necessary to get the best deal out there. Once you understand some of the fundamentals of leasing a car or truck, you will be well on your way to getting the best deal for you money. Never be afraid to ask questions and have the sales person draw out the details of the deal.

Using these three tips you can be the dealership at their own game...and above all else be sure to check out a good auto lease calculator before agreeing to a dealer's terms. Here is to leasing on your own terms.

Chris Richard

Want more info about how to Avoid Losing $1000's Leasing your next auto? I'll give you a sneak preview of my insiders guide, just visit the Car Leasing Black Book Website.

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