Leasing a car... With no loan history ?

[Anonymous]

So was totally into this 2015 Nissan altima and works the details out.

Get to the credit app and they see I have good scores in the 710 area. And they send it to Nissan financial and denied because of no history...

So what auto finance companies will work with me??

[Anonymous]

The standards for leasing a vehicle generally are tougher than financing.  You might have to look into outright financing

[RushXTC]

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@Anonymous wrote:
So was totally into this 2015 Nissan altima and works the details out.

Get to the credit app and they see I have good scores in the 710 area. And they send it to Nissan financial and denied because of no history...

So what auto finance companies will work with me??

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As the previous poster stated, It's easier to buy than to lease.

Why do you want to lease anyways? Specific reason?

[Anonymous]

I'm young. Lower payments and such and it makes more sense. Not saying I'm not open to buying though.

[Anonymous]

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@Anonymous wrote:
I'm young. Lower payments and such and it makes more sense. Not saying I'm not open to buying though.

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You'll probably regret leasing honestly... just finance and treat the car well. Trade it in 3 years or so once it still has equity and you are up to date with your payments.

Leasing has a bunch of terms, and you're pretty much renting the vehicle. 

Also if you DO choose to finance PLEASE, and I repeat PLEASE do not accept a bull**** rate. Shop around for the lowest rate. Id say nothing above 5-6%.

[Anonymous]

Thanks a lot I'll definitely lease I think then

[Anonymous]

I mean finance**

[Anonymous]

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@Anonymous wrote:
I mean finance**

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Good man, and kudos on taking the advice from others on this forum..... always come here for help before making major financial decisions. If you FOLLOW them I bet you will come out good in the end.

As far as financing.... Try to GET approved for a loan first from some other company... maybe a credit union and then go into the dealers. Don't let them pressure you into thinking you have no creditworthiness and end up financing thru them... Ive been there and done that and 7 months later I'm planning on refinancing.

If you do this, then you will already know your budget and what kind of car to look for. This way they can't upsell you or force you into something that benefits them, although buying anything at all from a dealer works in their favor.

I will never step foot in a dealer again without having my loan already in place from... if you do then you are at the mercy of the dealer and what THEY WANT to sell you. You have your loan already, you go in tell em your budget and you purchase. Simple as that. Hope you kindly follow my advice. Just trying to help  you avoid any mistakes

[sccredit]

If the dealer ran it at a 710 then you should be fine for an auto loan.  Leases are harder to qualify for and the lack of loan experience is definitely a reason for decline.  Not to promote a longer loan but a lease payment should be the equivalent of a 72 month loan.