May I have your Attention Please and Thank you

[Anonymous]

Hello Everyone. .

I am 29 and On Feb. 3rd.
I will 30. . .

1st time having a credit card in over 10 years(I was young and stupid maxed out cards which at the time were only 2 as well I had to settle with both but I paid the settlement amounts thanks to the Lawyer and this is where she got me back to in 2 years- she closed everything down), and now I was allowed to open 1 Card so far- Capital 1 - current interest rate 25.99% - Income $125k a year. Current Limit $1,000.
Oh- I am from Brooklyn, and my taxes are paid in full(Never went on a payment in my life- Thank God) for myself and my company.

my current scores as follows -
Fico Score 8
Equafax 744
Transunion 773
Experian 647(One account still shows negative here- and she said we will finish this end of summer)

Never missed a payment in the past 2 months I had the new C.C. thanks to the app.

So my question is this - Can I lease a car?

(I got a quote on my insurance and they gave me $180 a month full-coverage.)

If I am missing any valuable information regarding any detail to give a better understanding. Please Ask me. I would like to get very detailed if need be.

[Anonymous]

Installment loans are always as needed for life. Be it a home loan, car, or whatever. You need a car and aren’t rich enough to pay cash, by all means get a loan. Get the best rate you can and the bigger the down payment the better.

[Anonymous]

I just got a quote today for a lease 2018 nissan rogue sv premium package for $1,200 down an $235 a month- so my question is lease or don’t lease or buy? Does leasing have same effect as financing?

[DeeBee78]

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wrote:
I just got a quote today for a lease 2018 nissan rogue sv premium package for $1,200 down an $235 a month- so my question is lease or don’t lease or buy? Does leasing have same effect as financing?

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There are many different reasons people choose to lease or buy. Most leasing is done on luxury vehicles because it allows people to drive $50,000 vehicles at $400 a month instead of financing them over 5-6 years for $800 a month. The downside is that after 2-4 years, you have to lease another vehicle.

I'm not sure of your reasoning behind a lease versus a purchase, but on more mainstream vehicles it's not usually cost-effective to lease unless you don't need a car long term. Leasing the Rogue at that price point (about $27K according to Nissan) is going to be closer to $335 a month, not $235, plus Brooklyn's 8.875% sales tax. Unless there are some massive incentives on that car knocking off 30% of the MSRP,  you're probably looking at $360 a month on a lease. Instead of leasing, you could purchase the car for $414 a month for 72 months and own it. 

Side note: These little crossovers are getting expensive. That Rogue is only $10K less than I paid for my Audi Q3!