Do I Need Credit Approval for a Lease Takeover?
Credit review is a common step in lease assumptions because the leasing company is taking on a new borrower.
FAQ
Do I need credit approval for a lease takeover?
Usually yes. Most leasing companies run a credit application before allowing a new lessee to assume the lease. Requirements vary by company and contract.
Can I be declined?
Yes. Approval is not guaranteed. Have a backup plan if your application is denied.