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We've been a one car family for awhile and of course, that has been a risky thing depending on the one vehicle. I've been wanting to get a second one, but the finances just didn't seem to line up right due to other commitments. Now our one vehicle is having issues, and it's become even more clear that another one is needed ASAP.
I was looking into options for traditional leasing through dealerships, which I'm sure I could afford monthly. However, it seemed to me that my lack of credit is the biggest problem. I was wondering if there is some alternative in this market I may not be aware of? It does NOT need to be a new car. Is it possible to lease a vehicle through some other means than traditional credit scores? I'm thinking... pay stubs, verification of utility payments, or something like that?
I wasn't exactly told no as I didn't apply, but I was told that my credit would have to be run and that would give me a dollar figure for the monthly payment. I already know the status of my credit, so I didn't bother pursuing that.
Just out of curiosity (sorry to drag this potentially off-topic) but would the occasional use of Uber/Lyft be within your budget for the time being? I guess that'd depend on how much you needed that second "vehicle"
I'm not really interested in pursuing the app option, at least for me personally. My husband might consider that for getting back and forth to work, but after having almost $300 in fraudulent charges to my card from Uber (only on file and never used it), it leaves a bad taste in my mouth kwim?
Just buy an inexpensive car. Money is cheap right now to borrow, even with poor credit. You, in particular, are a better candidate for buying than leasing. Go that route.
Good to know. The reason we would rather lease is we want to buy a car (no financing) in the near future, but are looking to fill in the gaps for our immediate vehicle needs.
Lack of credit rarely stops people if leasing cars that are sensible and they have steady employment and make enough to afford payments.
Bad credit can affect a lease, though.
Do you know your score?
Hmmm....maybe I need to call around to get more info at dealerships.
I did run my credit and I think it was like zero or something. I don't have any history. Nothing bad to report. I do expect it to rise in the near future, but don't know how long that will take. As mentioned before, our needs are more immediate.
Hmmm....maybe I need to call around to get more info at dealerships.
I did run my credit and I think it was like zero or something. I don't have any history. Nothing bad to report. I do expect it to rise in the near future, but don't know how long that will take. As mentioned before, our needs are more immediate.
Does your husband have a credit history? You should look into building yours. Do you have a parent who can add you as an authorized user to jumpstart the process?
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