Balance on existing auto loan and leasing a new auto

[glockrunner]

Hello,

I have an auto loan that will be paid off on10/22. I plan on leasing an auto before it's fully paid off, specifically because it's my only installment loan I have and if I wait till after it's paid off my score will most likely drop due to not having the installment loan with a balance.

I will have the balance below 8.9% so that can possibly raise my score. I plan on goiong through Hyundai Financing. What Credit bureau and Score do they use? I heard EQ Auto Score 8. I'm sitting at 735 right now. Is this good enough for top interest rate? It should only improve over the next 6 months. Live in CT

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[glockrunner]

All day and no replies. Anyone, please?

[Mjhall85]

with 735 you should be able to obtain top tier rates. Pending DTI and everything else is good of course, which I assume it will be pretty good with the auto 9 months from payoff. Just curious which car you looking to lease ?

[glockrunner]

 2022 Hyundai Tucson Hybrid. DTI 28%, which inclues the active auto loan

[Mjhall85]

nice! Hybrids seem to be really catching on more it seems.Best of luck with the purchase, let us know how it goes!

[glockrunner]

Will do! Thanks for the info