Quick Question about a lease deal I'm about to sign
#1
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Thread Starter
Quick Question about a lease deal I'm about to sign
Quick Question.
Im rolling 10 payments on a 2014 is250 (lux package, Starfire on back) into a 205 is250 FSPORT black/black.
Have Tier 7 Credit with Lexus (don't ask). Got the dealer down to 48 months, 12k/year, $1,500 out of pocket 2 $590/month.
About to sign this afternoon, already have the approval. Any opinions?
Im rolling 10 payments on a 2014 is250 (lux package, Starfire on back) into a 205 is250 FSPORT black/black.
Have Tier 7 Credit with Lexus (don't ask). Got the dealer down to 48 months, 12k/year, $1,500 out of pocket 2 $590/month.
About to sign this afternoon, already have the approval. Any opinions?
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#8
Lexus Fanatic
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FICO Tier 5 is a credit score of 520 and under.
Hard to believe there's a Tier 7.
http://www.insider-car-buying-tips.com/fico_score.html
FICO Tier 5 is a credit score of 520 and under.
Hard to believe there's a Tier 7.
http://www.insider-car-buying-tips.com/fico_score.html
Last edited by Joeb427; 09-18-15 at 01:00 PM.
#9
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What is your previous payment before this upcoming new lease?
With tier 7 im not even sure if its worth the investment. I would seriously consider getting a lower standard car and come back in a few years with a better tier rating.
I was in Tier 3 when i was trying to get my 2014, but I came back on 2015 and was approved for Tier 1.
$39,000 otd w tax&lisence
2015 IS250 premium navi black/black
$370
10k miles
$800 down
But then again, just my opinion
With tier 7 im not even sure if its worth the investment. I would seriously consider getting a lower standard car and come back in a few years with a better tier rating.
I was in Tier 3 when i was trying to get my 2014, but I came back on 2015 and was approved for Tier 1.
$39,000 otd w tax&lisence
2015 IS250 premium navi black/black
$370
10k miles
$800 down
But then again, just my opinion
#12
Lexus Test Driver
OP - Seriously, you need to keep your 2014 and repair your credit to the point you are not hugely overpaying for a car - I didn't even know there was such a thing as "Tier 7."
#13
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Thread Starter
Thanks for all the feedback...
A little more info- I should have shared more with you guys.
I have 10 payments left- couldn't have stuck it out, of course. So you ask why would you roll that much into a new car now... I have another car that's upside down 10k (financed Infiniti g37x) and unfortunately can't afford both the G37x and the is250.
So let's just say, I have to let one car go (repo) I would rather them take an upside down Infiniti vs. a newer car through Toyota motor credit (Lexus financial). I figured the longer I can keep the Lexus (on a lease) the more time I have to repair my credit and wait for the repo to look a few years old before this new is250 goes back.
Other option is have the Infiniti reposessed (which very well may happen) in the next month or so and wait for my current lease to expire, bring it back and be turned down by Lexus because my repo is to recent. Let's be honest, even if I gave LFS 100k this year in payments, a repo is a repo.
As far as tiers go, there are 7 I saw it with my own two eyes. Don't remember the exact numbers but tier 7 is below 550 I believe.
A little more info- I should have shared more with you guys.
I have 10 payments left- couldn't have stuck it out, of course. So you ask why would you roll that much into a new car now... I have another car that's upside down 10k (financed Infiniti g37x) and unfortunately can't afford both the G37x and the is250.
So let's just say, I have to let one car go (repo) I would rather them take an upside down Infiniti vs. a newer car through Toyota motor credit (Lexus financial). I figured the longer I can keep the Lexus (on a lease) the more time I have to repair my credit and wait for the repo to look a few years old before this new is250 goes back.
Other option is have the Infiniti reposessed (which very well may happen) in the next month or so and wait for my current lease to expire, bring it back and be turned down by Lexus because my repo is to recent. Let's be honest, even if I gave LFS 100k this year in payments, a repo is a repo.
As far as tiers go, there are 7 I saw it with my own two eyes. Don't remember the exact numbers but tier 7 is below 550 I believe.
#14
Lexus Test Driver
Thanks for all the feedback...
A little more info- I should have shared more with you guys.
I have 10 payments left- couldn't have stuck it out, of course. So you ask why would you roll that much into a new car now... I have another car that's upside down 10k (financed Infiniti g37x) and unfortunately can't afford both the G37x and the is250.
So let's just say, I have to let one car go (repo) I would rather them take an upside down Infiniti vs. a newer car through Toyota motor credit (Lexus financial). I figured the longer I can keep the Lexus (on a lease) the more time I have to repair my credit and wait for the repo to look a few years old before this new is250 goes back.
Other option is have the Infiniti reposessed (which very well may happen) in the next month or so and wait for my current lease to expire, bring it back and be turned down by Lexus because my repo is to recent. Let's be honest, even if I gave LFS 100k this year in payments, a repo is a repo.
As far as tiers go, there are 7 I saw it with my own two eyes. Don't remember the exact numbers but tier 7 is below 550 I believe.
A little more info- I should have shared more with you guys.
I have 10 payments left- couldn't have stuck it out, of course. So you ask why would you roll that much into a new car now... I have another car that's upside down 10k (financed Infiniti g37x) and unfortunately can't afford both the G37x and the is250.
So let's just say, I have to let one car go (repo) I would rather them take an upside down Infiniti vs. a newer car through Toyota motor credit (Lexus financial). I figured the longer I can keep the Lexus (on a lease) the more time I have to repair my credit and wait for the repo to look a few years old before this new is250 goes back.
Other option is have the Infiniti reposessed (which very well may happen) in the next month or so and wait for my current lease to expire, bring it back and be turned down by Lexus because my repo is to recent. Let's be honest, even if I gave LFS 100k this year in payments, a repo is a repo.
As far as tiers go, there are 7 I saw it with my own two eyes. Don't remember the exact numbers but tier 7 is below 550 I believe.
Seems you have considered your situation and have come up with what you view as a best solution for you. Good luck and I hope everything works out in the end.