I think it is good you were waiting. Sounds like everything is not falling into place, and you certainly don't want to get into any lease trouble. And, if you are going to wait, work on that credit. It can be done. I went through a bankruptcy in 2002, and very soon after I was able to get a credit card and start building credit. The rate sucked, but after working in fianance for a few years, I understood this was the way to start. Since then, I have bought a car, unsecured and been approved for a mortgage. You can do it, you just have to start at the low end. The loan through your bank is an excellent idea. Start there, pay it back and that will definitely help. Good luck, and I hope it all works out for you. Just keep the faith and your fingers crossed