isosunrise

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?

SummerRain

I am not sure about leasing but $590/mo for an IS 250 looks expensive to me.

Joeb427

iTrader: (1)

With a Tier 7 credit rating,the deal doesn't look too bad.

isosunrise

I forgot to mention the amount I'm rolling into the new car is $5,049

My current payment is $499

cantinoz

too much for a 250.

Joeb427

iTrader: (1)

Again,Tier 7 credit....

cantinoz

sorry. what is tier 7 credit? no clue what that means.

Joeb427

iTrader: (1)

.
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

gnawhdivad

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

larryv

Didn't even think you could get a lease with that low of a score.

link13

Credit ratings aside, there is no way I would ever pay that much on an IS250 lease. I am tier 1, but if an IS250 cost me that much, I would get something else.

gmanusmc

Bingo

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."

isosunrise

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.

gmanusmc

I don't doubt there is a tier 7 - just stated I didn't know there was one.

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.

ls430lover

congress the 250 the 200t is out and is a better mix of performance and 20% increase in economy
do not buy a 250