2007-11-30 20:53:28 · 7 answers · asked by paul t 1 in Cars & Transportation ➔ Buying & Selling
Having blemished credit your concentration should be on lowest Interest rates, many people with poor credit make the mistake getting expensive vehicle's where the Interest rate will outweigh the payments and end up with a vehicle that's worthless and still owe mega bucks because of the high Interest rates.
If I had blemished credit I would finance the least expensive car that would fit my needs till such time I have re-established a better rating.
Check out this link for a better understanding how poor credit works buying a car, and how to repair it. http://www.usedcartips.org/CREDI.html
2007-11-30 21:47:35 · answer #1 · answered by Anonymous · 1⤊ 0⤋
The best thing to do in most situations is to not lease a car. In most leasing situations you aren't the actual owner of the car. Even though you're only paying for the depreciated value you can get slammed with fees. In most contracts you sign they'll charge for "Extra Wear and Tear!" but you don't determine that. Even if the car was well taken care of they may say it hasn't been. They have lots of stipulations like that. It can also depend on if the market for that car has changed and it's harder to sell that particular model.
I would highly suggest just buying a car. Find a good Credit Union in your area and join. They usually have very good loan rates that are lower than banks. (Credit Unions can help people with bad credit!) Then once you've paid off the car it's yours. You don't have to worry about finding a new car.
2007-12-01 04:24:55 · answer #2 · answered by AY 2 · 0⤊ 0⤋
If you have poor credit the chances of qualifying for a lease are less than a with a loan. Leases are reserved for the best customers.
If your credit is poor why don't you settle for an inexpensive used car and concentrate on your budget and your financial/credit issues instead of going deeper into debt with a bad lease or a high interest loan.
2007-12-01 04:08:19 · answer #3 · answered by mccoyblues 7 · 0⤊ 0⤋
With poor credit, you've got more chances of leasing a car than financing it. For best car lease deals, you can visit this site: http://www.carleasingsecrets.com/.
2007-12-04 19:12:15 · answer #4 · answered by dreamraven 2 · 0⤊ 0⤋
Probably a lease would have lower interest but you should ask the dealer to run the buy vs lease numbers for you . That way you will know before you make the decision which would be best for you.
2007-11-30 21:02:44 · answer #5 · answered by Jeanne R 7 · 1⤊ 0⤋
Unless someone is paying ypu milage for your car, leasing is BAD!!!!!!
2007-12-01 02:22:11 · answer #6 · answered by William F. D 4 · 0⤊ 0⤋
LEASE WOULD LIKELY BE BETTER BUT READ EVERYTHING BECAUSE YOU WILL GET HAMMERED WITH EITHER A VERY HIGH INTEREST RATE OR A LONG NOTE.
2007-11-30 23:14:45 · answer #7 · answered by Anonymous · 0⤊ 1⤋