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Sadly after almost two years of hard work I am still in the "fair" credit range. I have been thinking about leasing a car but Ive heard you have to have better credit to lease than you do to buy. Can anyone shed some light on this?
BUMP
Yeah that make perfect sense to me. Actually I dont want to lease. But the car I want doesnt come out until July/ August. But I need a car today. LIke literally I have to get a new car today. So I dont want to be stuck with a car I dont really want for two years so I figured leasing might be a better option for me.
I agree with the suggestion above that simply renting a car for the short term might be a good option until the car you desire is released. We had a car stolen while our home was being built so we had to rent cars for about 4 months, worked out to be about the same cost as a regular car payment. If your a Costco member they have great rates. On the lease question some of the advantages of leasing can be diminished if your credit is not great because they money factor (interest rate) can get fairly high because of car companies don't like default risk. This may end up also result in security deposits. Having said that you should research the credit tiers for the manufactuer that your interested in leasting from.
@Anonymous wrote:
Did you try contacting a car rental agency about renting for a month? Potentially it would be the equivalent of a new car payment without the long contract of a car you absolutely know you don't want.
No not yet. But as others have suggested I think that may just be my best bet. Im going to start doing some research now. Thank You!!
Yeah I believe thats exactly what I am going to do . Thank you for the advice. And this just give me an excuse to be a costco member which Ive been planning on doing for a while now. ;-)