I'm kind of a bit confused with tiers and am maybe considering getting rid of my car and leasing a car hopefully before the end of december, if possible. I'm curious about something the sales assistant told me at the dealership though. He said due to my age it'd be better to have a parent cosign for me. Is that really necessary when I technically qualify for tier 1+ with my credit score? My parents would most likely help me with my monthly payments but I just don't see how if I already qualify for the top tier in financing why it'd be necessary to have a cosigner. Is it that I just odn't have enough history?


All help would be appreciated so I don't sound stupid when I go to look for a car.

 

If your credit is 720+ I don't think it's necessary for you to have a cosigner for your lease. Look into lexus MSDs though...

 

I'm curious how much do MSDs actually work out to? Like is each MSD a percentage of the car or a certain payment amount? I understand that it is basically a security deposit that is held for the duration of your lease but how do you determine how much to put down?

 

With Lexus financial, you can be 720+ and still not qualify for the best rate if you don't have previous auto loan history.