Posts: 138
Registered: ‎07-31-2012
Re: So I got Approved, but have some questions on the best direction I should take (finance vs lease

I would go with option A since you at least have equity on the car vs the lease(hopefully car is worth more than 16k on its third year). In this time you could improve your credit if it isn't enough to get the best rates at the moment and hopefully refi to lower payment/interest paid. If I were you and my ceiling payment was $300 (with no wiggle room) I would either a) save more for the downpayment, b) choose a less expensive car, c) buy slightly used . Some dealers are sketchy and that $322 may go slightly higher once you have gone through F&I. You don't want to risk losing the credit you worked so hard to rebuild.

As of Feb: AAoA 1 year, 10 months
CK TU: 740; Wal-Mart TU FICO: 721
CS EX: 715
8 CCs, 15 total accounts.
Negs on report: 1 30 day late aged 3 years
5 inquiries