I’m planning to lease a car soon and I’m considering a one-pay lease option. However, I don’t have enough funds to do that right now.
Do you have any advice on how to obtain funds for a one-pay lease? I’ve heard of some options like using cash, taking out a loan, or getting a credit card cash advance, but I’m not sure which one is best for me.
I would appreciate your input on this topic. You guys at leasehackr always have great insights and suggestions 
If you dont have it do you really wanna take on debt towards debt?
One option is a non one-pay where you make monthly installments for the life of the loan. The effective rate is a bit higher, but it’s more straightforward and less complicated.
my idea is to find a lower interest way to pay for the car to avoid the higher finance rates on a conventional lease.
I see what you mean 
I guess I don’t mind exploring a less straightforward and more complicated way in order to save a decent amount of money on interest over the life of the lease 
I’m sure there’s a better way to do this but
Open a CC that gives you 12 months 0 interest
Use that card with PayPal and send it to yourself and eat the 3% fee
Just don’t do a 1-pay until you can comfortably afford it would prob be my advice
You can roll the dice on something like a “no interest for 12 month” credit card offer but there are likely still fees for cash advance, and at that point you’re likely paying more to borrow the money than what you are saving on the one pay lease.
I’m curious about that idea
Could you explain the PayPal component to this strategy?
You are making a purchase with the card and sending it to yourself and PayPal charges 3% fee for the transaction
Because if you send it as a gift it’s treated as a cash advance
Also it helps if you sign up with a CC with a reward bonus
Again there’s probably a better way to do this
But this way it’s a 3% fee
What vehicle are you trying to lease, and how much of a difference does the one-pay make? Just trying to see if the $$$ savings is worth the effort of the machinations.
Get a job-save some cash and come back in two years… Otherwise you’ll pay a lot in interest either way.
But all kidding aside, don’t do this as your CC borrowing as “cash advance” will have the highest interest unless it is a term no interest rate or a credit union credit card… we can’t really tell you what is best for you as you know your credit, interest and all that comes with it. US Bank had a 24 mo no interest CC a few months ago-but even so your cash advance is limited to a certain amount not the whole credit line.
Personal Loan would work best as long as your credit is excellent and you get lower rates etc.
What is the amount of the One Pay vs Monthly???
I like this outside of the box thinking and I believe this strategy will work very well for me. Thanks
Which one pay is so attractive that you are going to take on these risks with insane credit card interest if you fail to produce the money or paying a 3% PayPal fee on a balance transfer basically ?
This is a really bad idea. Either you don’t have the money for the car or you should do a standard lease/finance term. One pays aren’t inherently better though can be for certain models . That doesn’t mean it’s right for you, especially for someone without the money to actually pay for the car.
I would like to see some actual numbers here. Can’t imagine it is worth the trouble/risk.
There are tax implications of buying on PayPal so depending on tax circumstances he could see a nice 1099 at end of year too…
none of the above
you need a mentor …not a lease
This makes zero sense. Take out a 5% loan to pay down another bill from 9% to 7%. Do you not see the simple math problem here?
Math can be hard
Does the 0% interest cash advance not have some sort of fixed one time fee also? Like 4-5%. If the offer is for 12 months, that’s effectively 4-5% APR.
Regardless, if the math works out, it could be a really good option as an additional hacking tool but not as a solution for not having enough cash for One Pay IMO.