Question:
Please give me some details about leasing a car in the United States with regards to one's credit rating. If possible, please include your own experience of leasing a car.
Answers:
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leasing is not the most expensive way to purchase a car. if you are like most people in the united states you are going to keep your car for 3 to 5 years and then want a new one. very few people pay their vehicles off in that time frame. therefore if you can lease a car for 2 to 4 years and get a lower payment than a purchase you will be better off, since you are going to have a car payment anyways.of course if you can buy a vehicle and keep it 10 years, then you dont want to lease. but reality is 75% of the people in the u.s. dont.
as far as the question of whether or not you can lease w/ no credit. yes and no. to get some of the lease specials that manufacturers offer you usually need to have good credit. but cash speaks. if you come to the table w/ enough money down many lenders will overlook bad or no credit, since they will be in an equitable position. therefore, yes you can lease if you have enough money to buy your way in. if you dont have money down, then it will be very hard to lease w/ no credit.
p.s. im currently leasing a $31k car for $370 a month. you can not purchase that car and get the same payments w/ the same money down regardless of the term.
I would think that would be pretty tough to do. Why not try and purchase a used car instead?
My car is currently in repossession, but within the next week I'm planning to file bankruptcy.?
You're going to have a hard time finding a company to finance you with no credit.Leasing is the absolute, bar none, without exception most expensive way to operate a vehicle. There is no way to obtain transportation that is more expensive than leasing. Taxicabs are cheaper. Limosines are cheaper. Leasing is the stupidest way to obtain a vehicle that exists on the planet.
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