Finance Questions

Posts Tagged ‘leasing’

Question: Should I save and buy the car cash or Finance/Lease it?

I can pay the car off ($20,000) in half a year, at most, 1 year. Or should I just save and buy it cash (in the same time frame)?

Answer: You would probably have to put down a large chunk of cash to finance it since you are young, and don't have a co signer they will probably hit you with a high interest rate and it will take you longer than expected to pay it off.

The best bet is to just wait and to pay it with cash so you don't have to pay any interest rate.

Tax Deduction Tips & Advice : How to Use Car Lease Payments as a Tax Deduction

Question: Do auto dealers use Trans Union or Experian credit score to lease/Finance A Car?

I know that auto dealers use a specific credit score to lease/Finance A Car, but I forgot which one. I believe it is either Trans Union or Experian. I know that auto dealers use one score even if this score is the lowest of all. Does any one know which credit score, Trans Union or Experian, auto dealers use to lease/Finance A Car? Thanks.

Answer: they probably pull all three Trans union, experian, and Equafax.

Business Vehicle Buy or Lease a Car?