Hello
I went to get a car and the monthly payment was about $215. After the dealer ran my credit it came out to $500. Any suggestions are welcome.
a cosigner or perhaps brokers can help.
Buy a cheap, reliable used car?
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It’s a funny thing about leasing, they actually expect a payment each month.
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I don’t know if one-pay can change the money factor (ie with bad credit), but you’ll need to either get a cosigner or go buy a used car. Leasing requires a certain level of credit worthiness
Why do you want to lease?
If the answer is lower payment…then get a used car.
Cosigner or get used car. Work on credit. I let my unconsolidated student loans come out of deferment several times and it really messed up my credit. I have been contacting Greatlakes, Navient etc… and they saw I was still in school and put the forbearance and it is fixing my credit.
Do what you can, call the companies and ask if they can remove any derogatory remarks. You never know.
First of all, how is your credit? Bad is not specific enough. We need a score, and whether this is a FAKO score (Most Banks, Credit Karma) or an Auto Enhanced Fico Score (The dealership would pull this score or you can buy it from fico.com). How does your history look. How many credit cards, how long have you had them and what are the limits. how many inquiries do you have. any late payments, if so how many and how late. any foreclosures, repos, bankruptcies, etc. You need to give us something to work with.
DO not lease !!!
Buy a used Camry /Accord whatever suits you…
Try to get loan from credit Union did you can afford 250 keep payment at 200
Save for 3 years , improve score and then get the car you need.
Dealers take advantage of people with poor credit. They try to make you feel bad and jack the rates to the sky.
Thanks everyone for ur suggestion.
how bad is your credit ? if anyone buys you , it would be ford
td bank auto was the one that financed my auto loan if that helps.
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Can mods delete these scammers that register 5 minutes prior to posting this junk?
Unfortunately, leasing doesnt work for bad/new credit. I am trying to lease Giulia in Tx and none of my dealers in dallas wants to lease as my credit history is new (Age <3yrs) although my auto FICO score is 750+. Guess, used car is the way to go.
Any pointer for first time lease / new credit age with less than 3 years of history?.
Depends on the Captive. Some are easier to work with than others. Ford + GM are usually pretty lenient. I’ve heard Nissan can be as well.
ford is the easiest , they may ok you for a certain payment and then you would have to put down amount to qualify to that
Credit score is 620, I’ve been buying used Camry’s for a while now (credit score reflects positive payments). Really looking at BMW i3. What can be done, broker is an option and giving money down is NOT. Paying upfront is up for discussion. I just joined today, but I love this site already.
Gonna be very tough with that Credit Score I think. I have read many posts that Ford and VW is probably the most forgiving. I recently talked my neighbor/friend into leasing for the first time, pristine credit, score 760, 2 credit cards, no home or auto history, only 4 years of credit history (always paid in cash), was still turned down by Ford for Tier 1. Had to get a co-signer for best rate. Funny thing, I know he’s a millionaire, and probably had enough just sitting in his checking account to pay for the Explorer.