Lease or Buy Used

Here is the issue:

Credit - Tier 5 (657 Auto Fico)
Income - 105k
Current Car - None

I was looking to keep a car about a year so my credit improves and I can get a better whip(car). My credit is lower currently because of credit utilization (80%+).

First I was going to lease a VW Passat because I believe a Jetta isn’t really meant for dudes.
But the VW dealership kept messing with me and said, $299.00+ tax for a 2017 Passat S.
That’s a no go for me I thought that was SUPER ridiculous for the kind of car it is.

So I was thinking maybe, I could buy a used car like a VW Passat or better and stretch the payments about 74 months, bringing the monthly down to around 300+- then selling the car after about 10-12 months. The downside is , its a pain to sell a car, especially if I don’t own the title.

Should I lease something else, or buy a used car short term?

First increase your credit limit by opening an additional credit card or increasing your spending limit on your current card(s). Second start paying some cash to get your credit utilization even lower. Should improve your score a ton in no time. In fact do both. Then look for a lower money factor car lease brand with MSD.

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I don’t think MSDs is wise when he has 80% utilization.

OP, you would finance a used reliable car (hopefully at a decent APR) and drive that until you pay off all your debt. After that, revisit your situation and determine what’s best at that time.

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Possible. I’m assuming he has a low credit limit. Not necessarily spending all his money. I probably should have asked vs assuming. If you are spending that much, you need to look for a low cost lease or buy a used car until your scores improve.

To doom’s point, why do you have 80% utilization? App-o-rama shenanigans, low credit limits or do you just like to spend?

Buy a cheap reliable used car. In conjunction with that pay down your debt. You are making decent money (if you don’t live in LA, SF, NYC etc). Turning this around is easy given your situation.


Ratio is that high because I traveled a bunch last year.

Debt = less than 10k I pay off about 10% a month.

I live in Los Angeles.

Rent 1250.00

I don’t want a shitty car because you can’t get a date in a beater.

Well at least your rent is cheap. Oh ya then your credit is low because you need more credit cards. If you have no late payments or other issues you should be able to pull it off. If you are in LA you should be ubering on dates. Focus on paying down the debt fast. Then it changes the game. Don’t worry about a car for dates. If you do you will be getting the wrong girls anyway. LA hot girls are a dime a dozen. If they are looking at you for your car move on. Trust me.


To the OP Last thing I want to do is tell someone else HOW to spend their money, or WHAT to spend it on…
But, in this case… (doesn’t everyone hate that “But” word!!),
If you are looking for something good, cheap, reliable for a low payment to get you through till your credit position is better,
it feels hard to go past something like this…
It was originally a 27000 MSPR and is now going all over the place (as in all over the country) online for around 15,000 - 17,000.
I feel like it is a lot of car for the money (as in good features and standard inclusions). I believe that most of the price drop is just to get them gone now that they have stopped
making them, similar to what Hyundai did with their Equus vehicles once they decided to go to the Genesis brand.
Best of luck in your search where ever it takes you.

Chrysler 200

Not with a Tier 5 credit score.