topic Re: Approved! in Auto Loans

Approved!

Anonymous — Thu, 03 Sep 2015 01:30:11 GMT

2015 Lexus IS 250 F Sport with Nav, Backup Camera, and some other things I forgot about lol

MSRP: $43513, I believe. Not too sure about that

MF: 0.00085 equivalent to 2.04% APR

Monthly payment: $392.13

Term: 36 months

Bureau(s) Pulled: All three

No auto loan history prior to this one

Couple of extra details: absolutely 0 down with first month's payment free with all rebates credited

Edit: currently trying to post pictures

Re: Approved!

DonnyP05 — Tue, 01 Sep 2015 05:08:53 GMT

I think either your term or monthly payment is a little off.

Re: Approved!

Anonymous — Tue, 01 Sep 2015 06:28:30 GMT

@DonnyP05 wrote:
I think either your term or monthly payment is a little off.

Why do you say that?

Re: Approved!

DonnyP05 — Tue, 01 Sep 2015 06:36:34 GMT

Looks like you said loan was for 43,5?

If so and your only paying 400 a month, it would take longer than 36 months to pay it off

Re: Approved!

Anonymous — Tue, 01 Sep 2015 11:05:38 GMT

Congrats!!! Good job!!

Re: Approved!

Anonymous — Tue, 01 Sep 2015 11:06:14 GMT

@DonnyP05 wrote:
Looks like you said loan was for 43,5?

If so and your only paying 400 a month, it would take longer than 36 months to pay it off

He is talking about a lease...

Re: Approved!

Anonymous — Tue, 01 Sep 2015 19:21:03 GMT

Yeah I think something is wrong with his details. He didn't say if it lease, and if not monthly payment is too low for the term.

Re: Approved!

sccredit — Tue, 01 Sep 2015 19:44:25 GMT

@Anonymous wrote:
Yeah I think something is wrong with his details. He didn't say if it lease, and if not monthly payment is too low for the term.

MF (money factor) applies ONLY to a lease

Re: Approved!

Anonymous — Tue, 01 Sep 2015 19:47:58 GMT

Congrats, well done, Lexus leases are generally pretty good deals as long as you can live within the mileage limitations. Happy to see you know the money factor, so many folks do leases without paying attention to what all of the terms are.

Re: Approved!

Anonymous — Tue, 01 Sep 2015 19:57:59 GMT

@Anonymous wrote:
Congrats!!! Good job!!

Thank you!

Re: Approved!

Anonymous — Tue, 01 Sep 2015 19:59:56 GMT

@Anonymous wrote:
Congrats, well done, Lexus leases are generally pretty good deals as long as you can live within the mileage limitations. Happy to see you know the money factor, so many folks do leases without paying attention to what all of the terms are.

Thanks

Yeah, I've been reading other lease posts in the Auto Loan section for a couple months now so I knew what to ask before getting into it haha

Re: Approved!

Anonymous — Tue, 01 Sep 2015 20:03:54 GMT

Congrats!!! I want 350 F-Sport...

Re: Approved!

Anonymous — Tue, 01 Sep 2015 20:05:45 GMT

@Anonymous wrote:
Congrats!!! I want 350 F-Sport...

Haha thank you! At the end of the lease, I might either buy it out and keep it for some time or upgrade to the 350 F Sport.

Re: Approved!

Anonymous — Wed, 02 Sep 2015 19:39:10 GMT

Re: Approved!

Anonymous — Wed, 02 Sep 2015 19:39:50 GMT

how much did you put down?

Re: Approved!

Anonymous — Wed, 02 Sep 2015 21:20:14 GMT

@Anonymous wrote:
how much did you put down?

Nothing. I got some rebates that covered all inception fees, registration, etc.And the first month's payment was free