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Regular Contributor


Hello, I really would like to get a lease, I'm looking for Mid SUV

I do not want to put any money down, only taxes. 

I haven't applied for new credit since May 

My Current scores(Updated today)

EX 677  *auto 8* 643 - auto 2 is 686... 6 inquiries
EQ 681 * auto 8 685 - auto 5 is 725... 4 inquires
TU 674 * auto 8 *693 - auto 4 is 700.. 4 inquires 

I have a charge off from Middland (chase card in 2009 (paid) is only showing in Equifax, TU & EX deleted (to old)
and 1 medical collection from May 2014

Current cards
DCU 3000 
Capital one - 5500

Capital One QS - 3300
VS - 350

Walmart 650

Amazon store card 2200

Khols 300

Amex I think for 1800


I currently have an auto with DCU that I refinanced in March total to pay off is 7500 is a 2011 Ford... Before refinancing with DCU I had the loan with GM for 3 and half years, I bought the car in 2011..Prior to this one I finance a Kia and the Kia was paid off (54 months)

I have never paid any of the loan lates, I'm always on time. 



I live in South Florida and I do not trust any dealers 


My dream car is a Lexus RX350 but I seethe NX200 similar and they have 2000 due at signing (I think)


Will I hae trouble qualifing? TIA


PS i edited the post to add Amex as current CC

2/23/15 -EQ 676 TU 627 EX 665 7/27/15 EQ 683 TU 683 EX 677 9/4/15 EQ 719 TU 690 EX 677 11/5/15 EQ 725 TU 693 EX 734**2/7/16 EQ 732 TU 696 EX 742
Message 1 of 6
Valued Contributor

Re: leasing?

Assuming your income is ok you will get qualified, more than half of Lexus' are leased, they hold their value well so they are normally a good car to lease.  Leases are really tricky, you can get ripped off really easily so if your not familiar with negotiating a lease I would look for factory advertised lease specials, they tend to be very favorable to the consumer, if you can find one that matches the car you want then you won't be able to beat it on your own. I think your scores are good enough to get tier 1 but I am not real familiar with the Lexus requirements.  As part of your research you should look at some of the Lexus enthusists sites and see what other's are getting for their money factor, that is the equivalent of interest and normally where dealers will do their markups. 

Message 2 of 6
Regular Contributor

Re: leasing?

I forgot one of the most important part the income lol. I make 50k a year. Definetly i will look into more details. I had always finance all my cars. Thansk workingfor850

2/23/15 -EQ 676 TU 627 EX 665 7/27/15 EQ 683 TU 683 EX 677 9/4/15 EQ 719 TU 690 EX 677 11/5/15 EQ 725 TU 693 EX 734**2/7/16 EQ 732 TU 696 EX 742
Message 3 of 6
New Member

Re: leasing?

I suggest here you will do the online research and request quotes on at least 5 dealers. In that case, you can find the best deal, compare the diffence, and mostly, take the advantage. 

“Life is like riding a bicycle. To keep your balance, you must keep moving.” ― Albert Einstein
Message 4 of 6
Established Member

Re: leasing?

The new 2017 Mazda CX-5 and the 2017 Toyota Highlander are good vehicles nowadays with the standard features they have, even in the base trim.  In addition, they have some of the best residual rates.  I would look there for best features for the price..


I would avoid Toyota Financial Credit though as the lender..


I recently was quoted on a base toyota highlander


32k sticker (4cyl base)

28600 negotiated price plus adding TTL, money factor .00072 and residual 20400 for 36 monthls, 15k miles a year.


The 4 cyl is underpowered but perfect for the kids to drive so that is why I am considering it..


Message 5 of 6
Valued Contributor

Re: leasing?

The advertised lease specials are always the best but of course there is the fine print. It shows such and such due at signing and right below that in the itty bitty print it states does not include taxes and state and dealer fees. But if you find a dealer with low fees and put the taxes and the amount due down you should be fine. If you want to just put the taxes down then take the remaining amount and divide it by the term of the lease and add that to the quoted payment and you'll have the new payment. Like I tell my customers all the time, it's math not magic. 

Leasing has gotten a bad rap over time, but really it is the easiest way to always have a car that is new to fairly new, within factory comprehensive warranty and if you don't like it, you toss the keys back in 36 months. The downside is the extra crap. By that I mean excess wear and tear, dents and dings, etc. that they hit you with at lease end. Personally and as an automotive professional, I'd lease and then with about two to three months to go trade it in not turn it in. That takes the excess mileage penalty and other penalties away, you should get close to the residual amount for trade in unless something catastrophic happens during your lease. I remember in the early 2000's GM was leasing Tahoes to every soccer mom with a pulse. gasoline shot up to $4/gallon and the trade value was 30% lower than the quoted residual on them. GM had lease turn-ins they couldn't give away. But that was an anomoly. 

Good luck in your search and there was some solid advice posted here earlier. 

Starting Score: EQ497/TU496/EX 499
Currently: EQ 620 TU 654 EX 627
in the garden since 6/16/2021
Message 6 of 6
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