Valued Member
Posts: 47
Registered: ‎03-08-2012
Re: First Lease Impact

TwinGirls19 wrote:

So guys i got my first ever lease , 2 years 350 a month, my scores are 630 ish 640ish. As you all know midland, my only collection agreed to delete just got the letter today. My question is after 2 year lease is up no lates and paying on time, will my score jump? What have been some of your gains score wise after first lease??

Your FICO score can change over time.  I'd like to highlight that most auto underwriters look at your "Auto Enhanced" score.  When you check your FICO, depending on your autoloan paying history, this score can be significantly higher or lower than the FICO you will see on your report.  I recently had a EQ FICO of 639 when I pulled it a few Saturdays ago.  Not even an hour later I was at the Credit Union applying for an auto refi when my "Auto Enhanced" showed 674.  I pay my auto loans on time all the time.  My branch manager stated that if I keep doing this, I'll easily be in the 700s not too far out.

I thought about getting a lease on a 2013 Lexus ES350,  boy do they look nice.   However, I'll keep the current Lexus I have for the long haul, unless it's totaled or something.