How to Lease a Tanning Bed With Bad Credit

Leasing a tanning bed for business or personal use can be challenging if you have bad credit. Bad credit, however, is not the only factor that can affect your ability to obtain a lease. The leasing company needs to feel it is not taking a huge risk by renting to you. Therefore, it's vital to communicate openly about your credit and the alternative options available to you.

Instructions

1

Consider purchasing a tanning bed instead. Leasing is frequently more expensive in the end than purchasing. Contact your bank or credit union to see if they'd be willing to give you a loan. If you already do business with a company, they're more likely to give you a loan, even with bad credit.

2

Get a co-signer with good credit. Your co-signer is liable for any fees if you default on your lease, so you must pay your lease on time every month. Most rental companies, however, rent to someone with bad credit if they obtain a co-signer. Close friends, parents and spouses are good people to ask to cosign a loan.

3

Ask about making a large deposit. Rental companies don't want to lease to people with bad credit because of the potential financial loss involved. If you default on your lease in the first few months, the rental company must repossess the tanning bed, pay for debt collection costs and potentially pay an attorney to sue you, in addition to the loss of the money you pay on your lease. A deposit can help to minimize fears about this potential financial loss. Ask if you can pay 3, 6, or 12 months of lease payment as your deposit.