I would like to lease but have a FICO Auto 8 of 645-663

[Anonymous]

My beacon 5 (FICO 5?) is worse (590s).  Can anyone suggest a finance company to go through?  TransUnion is the worst for me and Equifax is the best.  I am able to put a significant amount of money down and I'm looking to get a two year ultra low mileage lease just to build some auto tradeline credit while I continue to heal my credit.  Any tips/suggestions much appreciated!  Now, I know this sounds funny but I read Porsche will just let you pay a lump sum for an entire lease?  Do you think they would let me make payments on about 2-3 k just to have that tradeline?  I feel stupid walking into a Porsche dealership with subprime credit (depending on what FICO model they pull).  But also, I've heard a lot of doctors have horrible credit so I don't feel too bad!  While I'm not a doctor I'm in the same "boat" so to speak, great income, with mediocre credit!

[mrjerry]

Yes, Porsche Financial offers single pay lease, but your credit scores aren't bad. You would be approved with most lenders, ex: (bmw financial, Mercedes Benz financial, VW/Audi financial) 

porsche is a tough nut to crack, what current or previous lease/auto loans have you had? Also what are the monthly payments? Comparable auto is usually looked at.

[lhcole77]

@Anonymous  If you're not married to the brand of car you lease, I've heard good things about Toyota and Honda Financial for scores in your range.

There are some good YouTube videos about credit tiers. Here is a screenshot from one.

I've leased with VW since 2015 and your score range will = higher MF (interest charge) right now.

[BmoreBull]

With Toyota/Lexus, they will pull all 3 auto 8 scores and use whichever is the highest. So as said above, if your not stuck on Porsche, look at a Lexus. 

[Scupra]

First rule of leasing, don't put any money down towards cap cost reduction. Paying TT&L up front is ok and suggested though. Money down is completely lost god forbid the vehicle ends up being totalled. 

One pay lease really isn't that uncommon. Very rarely does it make more sense vs leasing 24-36 months. 

[Anonymous]

I have a prior car loan where I had I cosigner this loan was closed a long time ago.  Seven years ago I entered a raffle and won a car so I haven't had an auto loan in ages!

[Anonymous]

Have you seen finding Nemo where the cute turtle is talking and Nemo's Dad is like "you're really cute but I don't understand what you're saying?"  LOL that's how I feel after I read your post.  If you have time to educate a complete stranger on your acronyms or have any resources on how to negotiate leases like a boss I would be very grateful

[lhcole77]

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@Anonymous wrote:

Have you seen finding Nemo where the cute turtle is talking and Nemo's Dad is like "you're really cute but I don't understand what you're saying?"  LOL that's how I feel after I read your post.  If you have time to educate a complete stranger on your acronyms or have any resources on how to negotiate leases like a boss I would be very grateful

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Welcome to the Forums!

Who were you replying to with your post?

[sccredit]

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@Anonymous wrote:

Have you seen finding Nemo where the cute turtle is talking and Nemo's Dad is like "you're really cute but I don't understand what you're saying?"  LOL that's how I feel after I read your post.  If you have time to educate a complete stranger on your acronyms or have any resources on how to negotiate leases like a boss I would be very grateful

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Spend some time reading through the LeaseHackr forums. It will pay off in spades

[Anonymous]

Hoping someone can help me understand why my FICO AUTO 8 score is 80 points lower than my FICO 8?  I havent' had an auto loan in 7 years.  Experian FICO Auto 8 is 663, which is sctill lower than my FICO 8 but its not the abysmal FICO Auto 8 TU shows.  

Is there a way via buying tradeline or something that can increase my TU FICO Auto 8?  I've been working hard on my credit the last 6 months and I was saddened to see the score with this FICO model.  My credit utilization is 3%.  No late pays on TU.