Start be using a service like Credit Karma to dispute anything negative on your credit report. Whoever reported it has a time frame in which to verify the entry. Often they fail to do so and the entry is removed. If a few things go away your score could jump a lot.
If you travel a lot and rarely home do you need a car? I would just uber when necessary and pay off your debts.
1.) “Should I lease (I hear lower payments/less down) or should I buy used and take a loan?”
Leasing always has stricter requirements against purchase. Especially so since the lease is for a new vehicle. Your financing offers would most likely be in the range of 12 to 30% apr depending on the color of subprime. Any derogatory reporting of AUTO tradelines will likely disqualify even a decent candidate from a lease with a luxury brand.
2.) “If I lease what am I taking a loan on? Does it guarantee/pay off the lease?”
You are paying the bank that bought the car for you for the sole purpose of renting it out to you as a profit and then keeping ownership of the asset after contract ends. Considering the leverage of the smaller payments and you having control of the whole asset, it makes sense why the risk management is tougher on a lease. All deals on this site stipulate top tier credit as after about tier2 the numbers start looking rather horribly, outside of sone lenient manufacturers.
3.) “Would this be possible to do all online?”
Negotiate online yes. Closing a deal completely - possible. It depends on the car the brand the bank and the dealer. Subprime world usually doesnt let you close without presence due to inherent risk they deal with. But its case by case depending on which way you go.
In your case take pre-approvals with a grain of salt and your best terms will be with CUs, some of which may offer terms that are not at all bad. Forget leasing, go preowned. Tradeline will do wonders for you and if you spend the time on fixing credit issues while payong the note, your next car will easily be a lease that you want.
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yeah almost all the cars have subprime programs. for lease the minimum transunion is 580
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This is an area of credit that is grossly misunderstood.
Credit inquiries are virtually meaningless, but even if they weren’t, multiple inquiries for the same purpose (like car shopping) are scored as one.
With the addition of the new one from BMW Financial yesterday I now have 7 reporting on that bureau alone.
FICO didn’t blink.
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From what i know. Co signer doesnt give you better rate(payments). They are allowing you to take a car coz Co singer can pay for your premium when you cant. Their 800+credits doesnt drops your monthly payments. Usually lease gives you a lower monthly payment but in your case i rather save money and buy an reliable used car in the market.
I think it depends on the bank.
I just helped someone with a 562 get tier 1 on a Toyota through TFS and her co signer had a > 700
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You definitely can score a better interest rate with a co-signer. Might depend on the financial institution.
The whole point is to have someone responsible for the loan that is trust worthy to pay it back.
Maybe you can take out a loan with the cosigner at a better rate and pay the lease upfront, which will also decrease the MF
That sounds like too much work for little to no advantage, considering you still pay interest on a 1 pay, albeit slightly less, plus interest on the personal loan to pay the 1 pay, while having the co-signer now committed to 2 loans as well.
good point
Was actually curious to see how this situation would pan out, but looks like everybody wanted to jab at OP instead of actually provide useful information 
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Sorry old post but definitely agree. This was one of the more douchier gang ups from the hackr community that I’ve seen. Unfortunate…