intlmike

And some banks and credit unions will help you source your own lease finance. My CU does it for members.

1chumly

You could also check out www.swapalease.com

benblaney

Have a read of this:
http://www.mint.com/blog/goals/new-v...s-lease-a-car/

Vinnyvagus

Thats a good article. Thanks.
My dilemna is that i dont have the money to buy a new car or a used car outright so will be on monthly payments. I am looking at something over 24 months though so buying a car over 24 months (Paying no more than $350 a month) wont give me much towards a car unless I pay silly amounts per month. So am I thinking if I am looking for something over 24 months leasing may be the better and more affordable monthly payments option for me...

flnycus

Hey, didnt have time to read the whole post and replies sorry - but the problem i had whether leasing or buying is lack of credit history. mine was effectively zero. I couldn't even get a credit card, only under my wifes name, then in a few months i managed to get my own, really check into your financing arrangements first before you look at prices etc because it can be an ordeal. usually when you lease/buy they offer the best deals for tier 1 credit, i doubt you will have that, you will probably get a deal though but it might be very expensive. good luck.

Vinnyvagus

I guess until I am out there I really cant think what I am going to do then. I have a car provided by the company for the first month but then after that its down to me and getting my own car....

As I say I will have a small lump of cash say $2,000 and can afford about $350 a month so working out with that in mind whats the best thing to do...

fatbrit

You'll be fleeced at a dealer. The commonest one round these parts is DriveTime (previously known as Ugly Duckling) at the level of money you're talking about with no credit history. Most of the "poor people" dealers work the same way -- the money down on the car is more than they paid for it at auction, and anything they can screw out of you in the 5-year monthly payments at 20+ percent interest is a bonus.

Do yourself a favour and buy a runner for the first year or two while you build up your credit/driving history. Old Saturns are good value and solid vehicles. Craigslist.org.

Vinnyvagus

Can you get decent cars for $2,000 then? I'll take a look on Craigs List though....

fatbrit

2k is a runner with papers.
Over 5k and it'll be half decent.

If you're not mechanically inclined, see if you can find a mechanic to take with you.

Vinnyvagus

So going with a lease or something like swapalease for example isnt really gonna happen due to my credit history being ZERO when I arrive then? Hmmm..... that puts a spanner in the works...

fatbrit

Everyone's a winner in America! But if you haven't got a credit history and enough experience in dealing with total toads, you'll be fleeced -- it's as simple as that.

Read and understand the information at carbuyingtips.com if you're going anywhere near a dealer. Ignore the adverts for credit history and the crappy layout -- the info is pure gold.

But if I were you, I'd buy an old Saturn and find a reliable mechanic rather than pouring your money in trying to finance a car where you don't have the credit history. Sure, you'll put some money in to keeping a runner on the road -- but it's nothing compared with paying out for a fancy car when you haven't got the credit to get low rates

If you're still here in two years, dump it and buy something swanky with your by then great credit history.

fatbrit

Here you go: http://phoenix.craigslist.org/wvl/cto/1779843504.html

Id be somewhere around there.

Steerpike

I agree with most of this, except, I would go for a honda accord/civic, or toyota camry/corolla rather than a Saturn. Used car reliability stats favor the Japanese.
Edmunds (Hyundai, Toyota for basic sedans)
Another(Mazda, Honda, Toyota...)

I bought a used Honda Accord when I first arrived and I've never looked back - still with that brand now, never an issue. Do check out your Credit Union - they will often finance where others won't. Again, that's what I did when I had zero credit on arrival (yes, things have changed, I know, but still give them a shot).

Vinnyvagus

Credit Union? have you got a link as I type it in Google and I get a load of Credit union links but not sure which one you are referring to. Thanks.

Steerpike

Credit Unions are, by definition (I think) small, local, and tied to a 'function'. So you'll first need to find out, from your prospective employer, what Credit Union they are associated with (if any). In my case, for example, the company was on a campus owned by Stanford University, and as such, we were all eligible to join the 'Stanford Federal Credit Union'. I THINK it's one of those things that you can always qualify for membership one way or another.