LaMosquita
Contributor
My lease is up at the end of January. There is a lot of damage on my vehicle. Body work is needed on the bumper and the side. The grill is messed up too. Never lease a car if you live in a city and park on the street!! Anyway, I don't know what the most cost effective decision for me is now that it is the end of lease. My priority in life at the moment is to keep my credit high and debt low. One option is buy the car from Nissan, which would mean I should take out another car loan to pay off the remainder. Another option is to get into a new lease which may have low monthly payments and may wave my damage however, it is another car loan. To turn the car in and be done with them all together would require a lot of upfront fees for the damage which would mean less to spend out of pocket on a cheap car from Craigslist or AutoTrader etc (no loan required but lots of upfront cash). I ask USAA for guidance in this decision because I feel that the reps at Nissan are biased, and it is their job to be biased, however I need objective advice to help me make the most cost effective decision. If I have a car loan, student loans, and a 700+ credit score, what are my chances of being approved for a loan on a house (with a spouse /consigner)? I don't want this car decision to affect the ability to get approved on a mortgage a few months down the road. Thank you!

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