Hi all,
Believe this is my 2nd post here. I'm curious to know if any of you could offer any guidance for a situation I'm in with currently 1 payment left on my auto lease with Chase (original balance $9400). My current EX FICO 8 is 636 as of today and I'm thinking of either a) extending my lease for 3-6 months to allow me to build up my credit another ~40 pts, then app for CSP and a new lease through Chase immediately after. I'm applying the AZEO strategy on 8/13 this month, just before all of my accounts report and getting two small telecommunications collections removed currently so am hopeful for atleast a 20-30 point jump from that. The second option b) is to outright purchase the car for as best of a price I can. At this point, I'm not sure what options they're going to have for me to get into a new lease, given I am about 25,000 miles over the 36,000. My situation has drastically changed since I got this lease, and will be putting significantly less miles on my vehicle now.
My question is if anyone knows how a lease extension will affect my credit and/or if purchasing the car outright right now with the intention of still trading it back in for a new car prior to the end of 2018 how it will affect my credit also?
Thank you!
TU:
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