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Would it be stupid to lease a car at 17 years old?
I was planning on leasing cars all of my life any way. I like the idea of paying less per month, and being able to buy it after the two years. Im aware that you have to keep it under a certain mileage. But my concern is my age. Is it bad for my credit to do it?
7 Answers
- cool_stuffLv 48 years agoFavorite Answer
Yes, just buy a brand new car instead, you still can pay monthly to pay it off, and you actually own the car.
- MACDLv 58 years ago
Paying less per month? When you figure the cost of the initial down payment & then total your monthly payments during the duration of the lease period. It's not less per month over the long term than owning. Your driving a car that you will never own ... at the end of the lease period, you will walk away with your money gone and nothing to show for it.
Leasing companies are out to make money. The buy back on the vehicle is always going to be cost prohibitive. They will structure the deal to take advantage of their investment.
Leasing puts a lot of restrictions (mileage, condition ... etc) on the vehicle. Might be a good idea to ask some "younger" people who have leased before ... what they think of it.
- Scott HLv 78 years ago
You won't be leasing a car at 17, so no need to worry about it. You won't be able to lease a car until you have a very good credit score and sufficient income to qualify for a lease. That's probably several years down the road for you.
- ?Lv 78 years ago
You have to be at least 18 years old to sign a binding legal contract.
I doubt that at 17 years old you've established enough credit for a bank to consider you for a lease even if it was legal at your age.
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- Anonymous8 years ago
Better to just buy a cheap car straight up and save up to buy a nicer one.
- Anonymous8 years ago
No, it would be impossible.