Would Leasing a vehicle effect me from being approved for a home?

[Heather Chavez]

Hello, For a few years now i was not able to be approved for a Loan to purchase my first home because of a high car loan. I no longer have this vehicle in my possesion and am not held responsible for the car loan anymore. However, i was curious to find out if i decide to lease a vehicle for a few years if this has the same effect of having the prior car loan? Would i be in the same situation as before.  Any info would help.

Heather

[Steve Vaughan]

Fleecing, I mean leasing, a vehicle is the most expensive way to have one.  Some do it as a tax strategy with their business, but overall it's a bonehead move if you want to build wealth.  You are renting a car with high penalties and a lot of rules.  What???

Third times a charm.  You've borrowed for a car. What happened to that 'equity'?  LOL Now you are considering leasing a car.  Let us know when you decide to buy a functional good enough used car outright and we will celebrate with ya @Heather Chavez!