Tips on Buying Cars/cars


How can I sign a lease for no money down and 200 dollars a month would I have to be employed or would any other type of income or co signer work and will my credit have to be perfect.

car guy
car guy  
Hi Kylee,
First of all, there is generally no such thing as a lease with no out-of-pocket initial expense... leases with no money down happen all the time. Let me explain: when you think of leasing you should substitute the word “rent” for “lease” and you'll have a better, more honest idea of what's happening. Just like when you rent anything, whether it’s an apartment or whatever, you pay the first month's rent in advance. The same theory applies to auto leasing, so every lease has the first month's payment due with lease inception unless otherwise stated somewhere.

People with exceptional credit histories are able to lease with only their first months payment all the time, people with marginal credit or poor credit or a limited credit history can have a very difficult time leasing. The reason for this is very simple, when you lease a car you are renting it the bank is the owner and at the end of the lease term you have the option of giving the car back to the owner or by for its lease and value now you are the owner you are entrusting somebody with your $30,000 car would want to make sure that person is is responsible making his payments but equally important to be responsible caring for your vehicle while he had it. You want to receive the card back in as of good shape as possible. People with exceptional credit are generally responsible in most of the other things they do as well, and they do tend to take care of other people's property responsibly as well.
It's difficult to lease a car with a cosigner because there is no magic box on a contract for cosigners to sign, they become co-applicants and co-owners and are jointly responsible for the payment, just like if the two of you were married. In those situations its usually the interest rate or money factor is driven by the persons credit score who will be driving the car.

A $200 per month lease payment is nearly impossible to get with no money down at lease inception. In order to obtain a lease you would have to show the bank both stability in your work and residence history as well as ability…. Which means if you don't have a job... And you don't have a trust fund or some other outside sources predictable future income then the bank will not lease you a car. One thing you may want to consider is a 36 month or 24 month lease that you pay entirely in advance.

I hope that answers your questions if not please ask as many follow-up questions as you want I am here answer them until you are completely satisfied with my answers so that you can give me a perfect survey with all tens and maximum bonus points… My personal e-mail is thank you for the question.

Tips on Buying Cars

All Answers

Answers by Expert:

Ask Experts


Roger Alvey


I can answer any question about the car buying process. I am a recognized industry expert on all issues regarding auto finance, including sub prime and buy here pay here financing, I can answer questions about car lock out systems, GPS monitoring by your bank, and about auto recovery methods and defenses. I am a 20 yr car industry expert and can tell you what to look for in a used car, how to negotiate the deal, help with how to market your own car, and how to negotiate with the internet department of any car store. I can tell you every single way the dealer is set up to beat you and how to avoid those traps, I can discuss all aftermarket and extended service contract products you will be offered in the finance process, I have lectured extensively on "The Best Way to Buy a Car" to civic groups and university students. I am a credit expert and can tell you what the dealer and banks are looking for and the rate you can expect to pay. HERE IS THE LINK TO MY OTHER ALLEXPERTS CATEGORIES WHERE I HAVE ANSWERED LOTS OF QUESTIONS HERE IS A LINK TO MY BLOG


20 years industry experience in top management of dealerships and dealer groups. Recognized industry expert since 2004 in the Top 10 industry experts for The Gerson Lehrman Groups Auto Industry Council. I also do consulting work for Atheneum Partners, Expert 360, Expert Connect and Coleman Research. I have been a franchise owner and understand all facets of the auto industry from the time the car leaves the factory until it leaves the lot with it's new owner. I have written training materials for both the prime and the subprime sales and finance process.

NADA, OADA, NFIB, State Certified Used Car Appraiser

Special Finance Insider, Dealer, and Automotive News, Gerson Lehrman Group Auto Industry Council News (frequently)

Willamette University - Salem Oregon BA Economics Willamette University Graduate School of Business - Econometrics Statistics

Awards and Honors
GM's Award of (their most prestigious award) Given to Dealers who surpass their annual benchmark planning volume while also maintaining Top Box (top 5%) CSI

Past/Present Clients
Citadel Investment Group , Summit Partners US ,Broad Peak Investment Management, Nautic Partners, LLC, Hellman & Friedman Investors, L.P. and over 40 additional money managers, hedge funds and research groups

©2017 All rights reserved.