Another option you might consider is increasing the size of the ‘initial payment’, thereby reducing your monthly leasing cost while also reducing the risk for the lender.
Some leasing firms might also allow a ‘guarantor’, who is appointed to take responsibility for your monthly payment should you find yourself in difficulty and unable to pay on time. Any such guarantor would need to have an exceptional credit score in order to qualify.
You may also be able to take out a ‘joint lease’ - whereby you and a partner or family member pool your resources, and credit scores, to secure a lease vehicle that you intend to share.
If you’re a young adult still living with your parents, you may not have a credit score to speak of at all. In those circumstances, you’ll need to prove to the lender that your monthly income puts you in a position where you’re comfortably able to pay the monthly leasing costs.
You’ll also need to provide proof of a consistent address, consistent employment and you may also still need to have a ‘co-signer’ on the loan, such as a parent, with a good credit score.