So with the car finally here, my dealership is working out with IFS the lease agreement. According to IFS, they want me to place a "substantial" down payment of $6000+ just because "I have no leasing experience".



So now I'm looking at my options. I mentioned to the dealer that I'd be taking a look at Leasecompare.com, and his tune changed when I said the pricing is very competitive. LOL!!

I don't need the car THAT bad to put so much money down. I might as well buy the damn thing if that's the case.

 

From what everyone else says, it is not good to put a downpayment for a lease.

 

I know that. Thanks.

Apparently IFS doesn't know that.

 

Maybe the dealership is just jerking your chain since their tune changed once you mentioned Leasecompare.com.

 

Dont buy the car if your not happy with the buying terms.... u will kick yourself for a long time even tho you will have a phat car.....

 

like me?
..... for buying the car the first month for 1k off sticker ,now everyone's getting them brand new under invoice. I kick myself every time I wake up; I'd gladly trade my past 6 months memories of my baby sitting in the garage collecting dust for the 2-4k off sticker price new members are getting hahahaha

 

Sorry to hear that man, keep working the deal it will work out....

 

"leasing experience" what the ...........

thats BS right there

 

oh wow, starting at 64400 CDN, seems a lot though

 

It should be purely based off your FICO credit score, not off "leasing experience." I never bought or leased a car prior to this in my life, nor do i own any property or pay any mortgage. I was approved for a lease with $0 down, great interest rate (MF), and very good deal on the monthly payments. Thats a load of bull, they cant force you to put a down pymt, thats just a way for them to make money.

 

Thanks for the help, guys.

I thought the dealer would do better to help out. I agree with y'all it's BS.

So let's see what Leasecompare has to say. I'm sure they'll undercut them and cut through the Bullcr@p.

 

How old was your credit? I'm trying to lease by myself and I was told that I "should" qualify, but my credit is new (2-3 years). My FICO is 701 (with an error that i'm having taken off).

 

You might not get approved for the best interest rate with a FICO of 701. You can get the lease im sure, but they might charge you a different MF than the prime rate. Most of the dealerships I experienced with when shopping around required what they place as Tier 1 credit which is above 750.
Now different finance managers will be able to work out different things for you, nothing is written in stone.
My credit is fairly new also, like about 5 - 6 years or so, but ive never had any issues with my payments, open accounts, etc. I qualified as Tier 0 with infiniti which they said is a score above 800.
Also, it might take some time fully clear that error off your reports

 

Thanks. Do you think my score will go up significantly with the error removed. I'm going to call the credit company and see if there is any way to speed it up. Would it better for me to use leasecompare.com vs the dealer?

 

Yeah, sounds to me like your dealer is jerking your chain. I can respect that they're trying to make a buck, however not gouge you in the process. A fair deal should be fair to the consumer and to the dealer.