Which is better to build credit financing or leasing?
914317
If you are thinking about this question in terms of buying a car this site can help you go over the pro/cons of each choice.\n\nhttp://www.myautoloan.com/html/auto_loan/auto_financing_vs_leasing.html\n\nNow, as far as building credit goes, here's a *quick* breakdown of how credit works and how to get your score higher.\n\nThe MOST important thing when it comes to building credit is keeping all of your accounts in good standing (don't have any missed payments or late payments if you can avoid it. 30 days late, while bad, is not as serious as 90 days late or more.\n\nWhat most people don't realize, that if you have a delinquency, and just pay off the account and close it - that will still show up as a delinquency being the last thing reported on the account. The best thing to do is to keep making payments and get good standing for 6months to 2years before paying off the account and closing it. 3-in-1 reports (the most commonly pulled reports for auto and home loans) show the last 2 years of account activities - not the last 7 (even though negative things will still show on your account for up to 7 on a single report).\n\nIdeally, you should have about 5 or 6 credit accounts (VISA, Macy's, Car Loan, etc. each count as 1), and ideally you should have them for 6 or 7 years and more. The longer the better. Keep them in good standing and never use more than 37% of available credit. For instance, if you have credit of $1000 - only spending $370 on that card is Much better than using $500 or more. Part of the credit score is determined by credit being used on available credit. Having debt of 50% or more on available credit is bad and will lower your score.\n\nAnother thing that determines credit score is debt to income ratio.  So, it actually will help you to have cards with high credit limits, just so long as you are not using all that credit. Because if your income is low, you want your debt to be low too. And high credit limits can help (if you don't spend too much) because they will make your ratio better. For example, take that $370 you have in debt from earlier example. If the card now gives you a $2000 credit limit - your debt ratio has now decreased  (you now only have debt of 18.5% instead of a debt of 37%) and your score will be higher.\n\nKeep in mind that the 3n1 reports show 2 years of activity... so if you open an account and keep it for a long time and get a high credit limit - but NEVER use the account - this will actually hurt your score. It is best to use just a little bit of credit and make small monthly payments for about 2 years, so this will show you are good at re-paying credit. This is why some people, who have tons of credit cards and always pay them back each month - even though that is great on their part, that is why they still have low credit scores. You NEVER want to get into too much debt, but a *little* bit of debt can actually build your credit scores.\n\nJust remember that each time you apply for credit or have your credit pulled from someone other than yourself, your score will go down. Ideally, 12 months of no credit inquiries is best. If YOU pull your credit info however (like on credit report websites) there is no penalty no matter how many times you choose to see your report. I, myself, use Identityguard and pull my reports every 2 weeks or so.\n \nWell, this doesn't cover EVERYTHING, but it should at least help you get started on building credit. This info has helped me... I was able to move my score up and buy my first home 2 years ago.\n\nGood Luck!
946131
You have to have something reporting to the credit bureaus in order to build good credit. To be honest with you, credit cards are the best thing to build your credit, besides a car or mortgage.\n\nJust get a couple of credit cards and keep your balances to around $300.00. Pay at least the minimum monthly payment every month. This will build your credit up quickly, but won't put you into a lot of debt.
941026
I suspect you want ball park idea rather than an exact quote.  As a rule figure 2.5 times your annual income is what you can get for a house, in your case lets say $135,000.\n\nYour credit score indicates you might want to aim lower to get financing, perhaps a small condo, then build score up.  The lower the credit score the more difficult it is to get financing and the higher the rates.  Building your score up doesn't take long, but does require effort.\n\nThese are just guesses, many variables come into play, but hope this helps a bit!\n\nCongrats on future new home!
480345
No, leasing or paying rent does not benefit your credit or Fico score in anyway.  Only if you do not pay does it get reported & then negatively impact your credit.  If you do not have a score or have a low score, there are many loan programs out there for this.  I would recommend you contact a mortgage co./brokerage (not a bank) since they have access to several hundred programs & can keep trying to help you.  If you want to imprve your scores you should paydown debt.  Or establish new good accounts.  For example you can go into your bank & open a secured credit card.
994221
Money follows management.  It is not a great product, but a great management team that will help you get the financing you need.  Lenders want to be assured they will receive their money back.  If you surround yourself with other people who have done this and have been successful, a lender will feel more secure lending the money.  Gather a management team of other business owners, consultants, attorneys, accountants or any other professional who can help support your business.  It is impossible for you to know everything, and every successful business person surrounds themselves with people who are smarter that they are.  Once you have built your management team/advisory board, then a business plan is next.  There are many resources available to explain how this works.  I think with a good team of advisors and a business plan, your chances of getting financing will be better.
1087634
To build credit\n1. use credit, pay on time, make payoffs, and don't owe too much in credit or your debt-to-income ratio will lok bad.\n\n2. Pay other bills on time.\n\n3. If you have outstanding bills, pay them off as quickly as possible.\n\n4. Do not apply for credit too frequently, all inquiries show on your report and make you look desperate for credit.\n\n5. Besides credit cards you could purchase an older car with easy financin terms and a short pay-off time, pay it off, and then buy a slightly more valuable car and pay it off. Your credit grows quickly with timely car payments.
833397
Depending on what other bills you might have, I would consider buying a house instead of renting.  Even with a 578 mid score on your credit, you could qualify for 100% financing.
611528
Leasing is long term, and has a contract.  Renting is short term, and sometimes has a contract, and sometimes don't.\nOtherwise there is no real difference
1072002
It depends on where you are and your credit score.  I signed a borrower who had just gone BK and was getting a loan within couple of months (I’m a signing agent notary public in CA).\n\nOther options would be to try to find a property with owner financing.
98251
It really depends on you...\n\nIf you tend to want a new car ever 2-3 years, it may be better for you to lease.  This way, you can pretty much turn the keys back into the dealership and find a new lease.  However, if you put a lot of miles on a vehicle, this might not be the best for you either, as there are usually penalties if you exceed a certain mileage that is spelled out in your contract.\n\nIf you plan on keeping a car for a long time, it is best to buy.  The car will become your asset, as eventually you will have it paid off and it will be yours.  Most new car loans are for 5 years, and sometimes longer, so you get the most benefit out of a purchase if you plan on keeping it for the length of your loan.  This way at the end you either have a vehicle that you can trade for a credit toward a new car...or you simply have a car that is yours free and clear.  \n\nThere is NOTHING better than having no car payment!  However, that means you sacrafice having the newest and latest as your car ages.
827605
Make sure that the one you get does not have an annual fee, or a start up fee. Also a lot of them have introductory rates that get raised ALOT after the 1st 6 mos or so. So, read the fine print. PErsonally, I like Capital One. You can earn rewards, there is no annual fees/start up fees & my interest rate is low.\nGood Luck !
95835
It is possible to get a loan if your credit is bad. If you have a good idea, and your business proposition makes sense you could get private lenders to help you. Private lenders may be more expensive, and sometimes upfront fees apply. Private leneders tend to work with you, regardless of your credit.
57265
Be conserative and consider leasing/renting. If your sucessful your will need to expand.\n\nCash flow will be important for the first five years.\n\nOption to purchase is great, if you have that opportunity.
18491
It depends on how long you intend to keep the car. For a good article on the pros and cons of leasing, see:\n\nhttp://www.consumerreports.org/cro/personal-finance/the-lowdown-on-car-leasing-405.htm
1025843
the dealerships usually have a better interest rate\nand your loan will be approved easier also
543715
you'll need personal credit and a business plan
899040
Piggybacking = Read This:http://www.expert-credit-advice.com/building_credit.htm