I inquired at least 6 times as to what the interest rate was that was being used to formulate the payment and what the residual value of the car would be at lease end.
As we further discussed the financing the salesman eventually disclosed that the purchase would actually be a lease that would have a 48 month term at the end of which you could simply return the auto mobile or pay a lease end buy out of "only 1500.00". This seemed reasonable to me given that even at higher than average interest rate on a 60 month loan it would be a payment I was comfortable with.
I sat down with a salesman and indicated what I was looking for, a very reliable newer model year priced so that I would not be upside down at the end of my financing.Īfter discussing what I qualified for it was determined that I could spend up to 20k for a vehicle. Since I had listed my vehicle on Craigslist only to have it sell with in hours, I was defiantly in position to need some as quickly as possible. With an enormous advertising campaign focused on the ability to provide financing for every credit situation combined with quality reliable newer model vehicles and lower down payments this seemed to be a viable option.
#ORBIT LEASING FULL#
I decided to take a look at Car City which seemed to have a large lot full of what appeared to be quality vehicles. After reviewing my credit report in June 2010 I realized that my lower score would require a sizable down payment or co-signed which I did not have available.
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