xRYD3Rx

Anyone have any info on what happens when paying more than monthly payment on a leased Lexus ?

Not planning on buying my Lexus at the end of lease. For example, let says 24 month lease - $500 monthly 24x500=12,000 - so currently let say 17 month remaining on my lease and 17x500=$8500 if I pay $8500 for my next months bill will I continue getting bills each month? Or they won't send me a bill for the next 17months. Hopefully you guys understand my question. Thought I should post a thread here before calling LFS.

bigblack06

iTrader: (20)

No you basically paid those months ahead so nothing will be due.

swfla

iTrader: (1)

It won't save you any money. The only reason to do this (I can think of) is if you're applying for credit and want to get your debt to income ratio down. I'd request that the lease holder report that the account is satisfied if that's the case.

xRYD3Rx

This is exactly why I want to pay more than monthly payment. Need to refinance a mortgage.

xRYD3Rx

Awesome thanks for info :]

SW17LS

I don't know that paying off the lease without buying the car out will remove the monthly obligation from your credit report for the purposes of getting a mortgage.