2007-12-18 13:55:54 · 6 answers · asked by dari98dae99 3 in Cars & Transportation ➔ Buying & Selling
It genrally takes better credit to lease than to buy.
But I have seen lenders that will lease to a credit-risk customer if the customer puts up a double or triple security deposit.
2007-12-18 15:52:32 · answer #1 · answered by Vicky 7 · 2⤊ 0⤋
Lease programs are set up with a set credit limit in mind to accept new customers its usually a 650 or above no matter what. Its easier to get a bad credit loan for financing a vehicle.
Thank you!
Hope this helps ...Good luck
2007-12-18 15:46:52 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Leases are generally reserved for only clients with the best credit. They can write a bad loan (high rates, lousy terms) to make up for your poor credit.
2007-12-18 15:38:31 · answer #3 · answered by mccoyblues 7 · 0⤊ 0⤋
If you are not going to have a trade in or money down itt is about the same because either way you will have to make monthly payments.
If you have money or a trade in to use to make the loan smaller it would be easier to purchase the new vehicle because the loan would be at a smaller rate.
Speak to a representative at your bank and check into what they will offer you BEFORE going to the lot and then check on financing there also. Take the best one.
2007-12-18 14:05:40 · answer #4 · answered by j 4 · 0⤊ 0⤋
Both require monthly payment. And bad credit is bad news.
But if you buy the car outright, then buying would be easier.
Good Luck.
P.S. I was told once by a loan officer, we don't care how much you make - if you don't make payments on time, you are no good to us. Make sense.
2007-12-18 14:05:28 · answer #5 · answered by Lover not a Fighter 7 · 0⤊ 0⤋
Honestly both are going to be very difficult for you.
2007-12-19 00:56:06 · answer #6 · answered by Anonymous · 0⤊ 1⤋