I'm looking to lease a car. i have limited credit history, can i still lease a car?

Question

i recently open a credit card account.. and have made payments on time.... i

Answer 1

So, how did this occur that paying on a car for a few years that you have to give back is smart?

Get a cheaper car that you can pay off in those few years.

Answer 2

Loans and lease are given on two major factors

(1) credit history - or payment history

(2) income - or your ability to pay.

So you lack #1 and you don't mention #2.  So it is almost impossible to answer - meaningfully

Good luck....

Answer 3

Do not lease a car! You get absolutley nothing for all that $$$ you paid for a minthy rental,.. if you must rent a car go to Enterprise

Buy the car but buy one that is affordable

Answer 4

actually the car companies are going to cut leasing programs here if not by the new year by the next summer

talk w a credit union in your area buy something 2-3 years old that has a transferable warranty and a gap option.

and budget within your means the car payment should not cost more then  1/4 what your average(median between the worst/best times)income is.

1/4 home(payment insurance taxes maintenance)

1/4 transportation(insurance and maintenance and payment of current or towards a newer car)

1/4 living expenses(everything else- food, clothes, gifts, appliences, etc..)

1/4 savings(emergency account not to be confused w living expenses)

of course you can adjust a little bit but this is a basic model that will keep you safe

oh yea once you do get that car payment in place pay off that card and destroy the card they are for the weak.

You can use a debit or paypal(online) to buy stuff.

If you can't pay cash you probably shouldn't buy it simple as that

of course there are emergences (ie the emergency account)

goodluck

Answer 5

If you only recently oppened your credit card account and thats all you have, you wont have enough history to get a loan, the only thing that will realisticly help you is a good cosigner.

Despite what some other people have said leasing isnt a horrible idea, just make sure you get enough miles that you wont go over, and dont lease for so long that you will want to trade the car in before the lease is up. Tons of people lease cars all the time, and do it for thier whole lives, its really not that  bad of an idea, especially if your dont like dealing with older junker cars that you have to fix all the time.  

Answer 6

Leasing has the same credit, income, and debt requirements as buying with a loan. They are both forms of financing.

If you have limited credit, you may have problems. The best way around the problem is to get a co-signer. It's a good way to get a good finance rate and build your credit for the next time you want a car.

Leasing works very well for many people but if you are simply looking for low payments, you may be overlooking the fact that leasing may not be the right financing method for you. Here's an article that explains in more detail:

http://www.leaseguide.com/lease05.htm

Good luck.