Acura Financial Services Lease

[Anonymous]

I plan to purchase a new car within the next few weeks. I'm going to lease an Acura but I have a few question. My current Fico scores are Tu: 689 Eq: 690 Ex: 690 My Auto Fico 8 score on Ex is 709... I paid off a credit card which should updates anyday now. So I'm expecting a big increase with scores. Anywho I'm only looking to finance through Acura Financial Services, my question is:

Should I apply online for my lease or apply at the dealership? 

I was told not to put any money down on a lease, but what about first months payment and doc fees only? Is there a security deposit?

When the app is submitted will the computer approve the app or does all apps go under Manuel review?

I have two open installment loans, I will trade one of the vehicle. How will the system know I'm trade in a vehicle and not assume I'm trying to get a third auto loan?

Any info is helpful.

[Anonymous]

Putting money down on a lease is a risk.

If the car is totalled or stolen you lose that money and have to start over again.

Putting $3,600 down means you would save $100 a month on the lease.

Instead put the $3,600 in a bank account and pay yourself $100 a month to cover the difference.

Putting the first month, tax title, license is OK I guess but I try and do 0 down sign and drive.

Apply at dealership - they will fight for you try and get you in a higher tier....

The "system" will not know you are trading in a car - you should be fine.  Not sure about leases but with lower credit scores (not saying yours are bad) there could be stipulations like must trade in a vehicle.  Again with your scores you should not have an issue.

Dealer hopefully can fight for you to get tier 1.

My wife leased a new MDX in November.   I do not know what agency they pulled .

[Anonymous]

NJCobra, Thanks!

Now I feel alittle better about moving forward with the lease. I'm not nervous about approval but more so about my negotiation skills, I've never leased a vehicle before. Plus my last car purchase in 2018, I was robbed big time, didn't know any better, and my credit wasn't the best. In fact it was horrible and the finance guy convince Ally to finance me $40k for a brand new car. 

I email the dealership anonymously and asked which bureau does AFS pull from and they said Transunion. Does anyone know AFS credit tiers?

[sccredit]

Check out the forums at LeaseHackr, there is a ton of good information there

[Anonymous]

Headed to the dealership today. Super nervous. How do I handle my trade in negotiations? Do I not mentioned trade until after lease numbers are agreed upon? Also does Acura Financial services pull regular Fico 8 or Auto enchanced score(s)

[Anonymous]

Can you please tell me how everything worked out for you with leasing from Acura? I'm currently in the same situation and I would like to receive some advice on negotiating. I also have a vehicle to trade in as well and I don't want to put any money down. My scores are actually a little lower than yours. I'm just really stressed out over this whole thing.