Overhaulin'

Can you finance a new car through a loan?

I just turned 16, my mother & I have been searching for a new car. With all of the options, we are thinking about leasing a brand new car. It'd be a Volkswagen of some sort. We are getting a loan from the credit union, we're just waiting to tell them how much we need. Her credit isn't that great.

Public Comments

1. Leasing and financing are two different things. Which one are you doing? The dealer should be walking you through all of this.
2. If your mom's credit isn't that great, you won't be leasing a car. Leasing takes exceptionally strong credit. The best to go about this is for your mom to ask the credit union how much they will lend her towards a new car. They'll give her a cap amount, or the most they're willing to go. Stick with a new car since credit unions prefer to make loans on them. They're less risk than used cars.