leasing with Lexus after DC 13

[mauricel1]

Does anyone have experience buying or leasing with Lexus after DC Chapter 13. Does credit score matters more or do they look at the BK. if anyone has input please respond. thanks in advance. 

[DebtStinks]

I think what's going to matter most is if you've established credit in any way (credit card, auto loan, personal loan, mortgage reaffirmed, etc) since filing BK...the fact that you completed your CH13 plan and got a discharge says one thing, but open/active reporting credit is another. 

Also, a new Lexus is generally not something an individual with tarnished credit is looking to lease or finance.

At the end of the day, if you have not reestablished credit since filing CH13, money down is your biggest friend.

I'd first start with a MyFICO.com membership at the Advanced or Premier level so you can get access to all your credit scores before shopping/applying with any lenders.

Report back with that info and I'd be more than happy to help. (FYI, car guy for 10 years here)

Best of luck!

[mauricel1]

Thanks.  I've already started rebuilding my credit it's in the 670 range. The goal is 700 or higher apply I applied from and received a Lexus credit card.  I didn't know they exist. I found a post for pre approval and I applied.  

[DebtStinks]

If you've rebuilt and have scores in the 670's along with the CH13 being discharged, you should be good to finance/lease your vehicle...assuming income, etc is all in line with the debt.

Best of luck!