Hi! I got a lease in 2017 with my ex husband he’s the main person and I’m the co-signer we got tier 1. Never have missed a payment. My lease is about to be over would I still get tier 1 based on this lease and my payment history or would it be based only on my credit ?

 

Suggest you contact a dealership finance manager with your question.

 

I can't imagine that they don't base the decision off of a normal credit check, even with a payment history with that particular finance company. They have no idea what other debt you may have racked up in the prior 3 years if they don't run a check.

 

My guess is that since your ex is the primary lessee, this lease only affects his credit. But I was wrong one time before.
Agree with TriC, to check with dealer finance manager for correct answer.

 

Having been a former dealer finance person, a cosigner with on-time payments will help your credit, but does not guarantee a Tier 1 rate. While they will take that into consideration, your own credit situation and other factors (debt to income, payment to income, revolving credit etc.) will play a bigger role in determining what rates you get. Doesn't hurt to get pre-approved, honestly, via your bank or I'd suggest a credit union before you go into the dealership.

 

Credit worthiness will be based upon your credit score.

 

Credit tier depends on your credit score, nothing more. Finance people can request exceptions though, so if you're tier 2 they can request an exception for tier 1 and they might get it if you have great history with Lexus/Toyota Financial specifically.