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Chase Auto Lease ending

Regular Contributor

Chase Auto Lease ending

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!

Current: Gardening...


As of Aug 2020. Total CL: $46,600; Goal: $50,000
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