scores and a new car

[Anonymous]

guys, im looking into purchasing or leasing a new vehicle. right now my scores are 683, 663, and 618. i just paid off all of my credit card debt (4 cards - utl was at 76%). im thinking my score should jump enough to qualify for some good solid rates. i am thinking about leasing given my situation. does anyone know if my scores are good enough to lease? thanks for the insight guys.

[Anonymous]

are those the updated scores?
You should be fine either way.

[Anonymous]

no those are right now, before the payoff of the 9k in CC debt has shown up. i want to get a lexus, i wasnt sure if they had any special requirements due to the kind of car.

[Anonymous]

You will be golden after these update

---

@Anonymous wrote:

no those are right now, before the payoff of the 9k in CC debt has shown up. i want to get a lexus, i wasnt sure if they had any special requirements due to the kind of car.

---

[Anonymous]

I have always heard 680 and up to lease a car.

[Anonymous]

I've have never had 680 in my entire life, and I've only leased cars.

[gNaRKiLL]

---

nfg wrote:

I've have never had 680 in my entire life, and I've only leased cars.

---

Would you mind sharing your scores and who allowed you to lease because I have mid 600's and want to lease but have been told I need atleast a 700 by several places.

[Anonymous]

You can lease, no problem.

I leased with scores in the mid-500s. It was Chevy and they were having a tough time selling their cars and were lenient on leases. The rate was 7 percent when everyone else was buying at 0 percent, though.

But I found leasing to be the worst financial mistake ever. I shelled out A LOT of money for a car I did not own. Plus, any major repairs not covered by warranty - and there were a few on the lemon of a minivan I leased, I had to pay for out of pocket.

It is better to buy at a high interest rate, then after paying on time consistently, refinance at a lower rate. The car is yours and you haven't tossed your cash down the proverbial leasing toilet.

Think carefully before you hop into a lease...

[Creditaddict]

Toyota, Lexus, Honda, Acura

Honda and Acura base there approvals on credit history not scores.

Toyota and Lexus will go very low and still approve if you can prove income and stuff.