Leasing a brand new INFINITI in Tysons can be similar to purchasing one. You’ll start with research and compare models online through our online inventory. Next, you’ll go to the dealership to test drive your favorite models and see which INFINITI model is really best for you. From there, you decide on what features you want for your car or SUV. Then most importantly, the color! After that, you will discuss financing or lease terms. From there, a down payment, and then a monthly payment. With a lease, a monthly payment is usually less than you’d spend per month if you bought an INFINITI. There are multiple differences between buying and leasing an INFINITI, most of them occur when you get to the end of your lease period. When you’re done with your INFINITI lease, you need to decide whether you want to trade your current model in for a new INFINITI or purchase your vehicle outright. Many people enjoy trading their car or SUV in for a new one every three years, but the choice is yours. If you really like your car or SUV and want to purchase it at the end of your lease, you’ll need contact Sheehy INFINITI of Tysons for a payoff quote. Our team will also provide you with instructions in order for you to purchase your INFINITI.
Frequently Asked Questions About Leasing An INFINITI
If you lease a car with bad credit, it will almost always be the case that you’ll pay more than someone with a good credit score. This protects the bank that is lending you money. That is why if it’s already a challenge to gather extra money for your usual monthly budget, you should only lease a car or SUV with bad credit when it is actually an emergency. Take a look at your transportation options to figure out if you have other options such as repairing your current car, carpooling with friends, family, or coworkers, or riding the bus for a few months or more while you work on lifting your credit. Even a few months of paying bills on time can improve your credit score. If you can keep from buying or leasing a car for a month or two, you may find yourself with a high enough credit score to receive a lower interest rate.
Don’t just assume have a low credit score. Discover for yourself what your credit score is, what has had an impact on your credit, and confirm there is no suspicious activity on your report. Next, bring your credit report with you when you meet with the finance experts at Sheehy INFINITI of Tysons. We may be able to work with you based on the reason for your low credit score. Keep in mind that you can get a free credit score once a year.
Interest rates are normally smaller for briefer leases, which means that you will end up paying less for your car or SUV while you are leasing it. This also means that when you’re finished making your monthly payments, you can focus on paying off other loans and continuing to improve your credit score before your next big purchase. Then you can think about leasing another car with a lower rate, or buying one with INFINITI financing plans, and getting the best interest rate possible.
You might think that an old car will have a lower cost, but in fact interest rates are higher on vehicles from several years ago.
Consider searching for leases on new cars at first, and then newer used cars, because these are the cars that tend to have the lowest interest or lease rates. Keep in mind that certain states outlaw leases on pre-owned vehicles.
Get the best lease you can, depending on how much YOU can afford to spend on a monthly payment.
It’s still probable that you could find a better offer on a used car, so do assess all of your options before making your final decision…and putting money down.
Depending on your financial situation, having a cosigner on your car lease may be the best choice to get a better rate. Think about getting a cosigner if any of the following apply to you:
You have bad credit.
Your income is lower than the minimum required.
You do not have a fixed income.
You have a high debt-to-income ratio.
Cosigning on a lease can be a big responsibility. Your cosigner will be obligated to make payments on your behalf if you aren’t able to, so only get a cosigner if you are certain you can make the payments promptly. If you are able to make your monthly lease payments, having a cosigner may help decrease the amount you have to pay on your lease. We hope this guide has been useful. If you have more concerns about leasing a car with a low credit score, simply contact our INFINITI finance staff at 703-665-5483.
Sheehy INFINITI of Tysons is located at:8527 Leesburg Pike • Tysons, VA 22182