I am thinking of leasing a vehicle?

Question

My main question is my credit...it's not so good. Could I get someone else to lease the vehicle who lives in another state lease it for me until I get back on my feet with my credit? Also any tips or advice would be greatly appreciated.

Answer 1

If someone else, in a different state, leased a vehicle 'for' you, it might be illegal depending on the lease agreement. Vehicle lease agreements are contracts, and the person signing that contract is agreeing to be bound by the terms of the contract. For someone to say they are leasing a vehicle for themselves when in fact they are leasing it for someone else could be considered fraud.

Answer 2

I made the mistake of leasing a vehicle. We paid $360.35 a month for 3 years. I did complete the contract, but I went ahead and bought the truck because it was over mileage. It would have cost me about $900.00 to turn it in.
My son made the mistake of leasing a vehicle. When he got behind on the payments they took it, even though he was trying to get them to let him catch the payments up. There is no incentive for them to let someone catch up because they make more money by repossessing it and leasing or selling it to someone else.
If you read the contract very carefully you will find that most lease agreements require you to pay the whole amount if you get behind, so, if you think your credit is bad now, think of what would happen if you missed a couple of payments. Suddenly you owe three years worth of payments.
If you really want to get a car establish some credit. Buy something small at a jewelry store and get it paid off. Go to a "carry your own contract" car lot. The interest is way high and you have to look carefully at each car, but they are pretty easy on credit challenged people. After your car has been paid off you have a reference for a better car.

Answer 3

I do indeed have some words....DON'T.
Car lease is the second biggest consumer rip-off in the nation. You have bad credit for a reason and the only way to dig out of a hole is get a bigger shovel, NOT a deeper hole. You will hate yourself this time next year if you do this and, worse yet, whoever you find that is stupid enough to lease it for you will REALLY hate you. Here's the skinny -- three thousand dollars will buy you a really homley, really dependable car that you can drive for at least two years and give yourself an opportunity to dig out of your credit mess. Drive the back roads every weekend and check out the big grandma cars parked in people's front yards for sale. No, it won't be sexy. No, it won't get good mileage (but who cares? You can still buy a hell of a lot of gas for three hundred dollars worth of lease money a month!) So get two jobs, save up and BUY a car for God's sake. In a few years you will be able to buy what ever you want AND keep your soul.