How much does Multiple security Deposits lower the payment?

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07-21-07, 10:49 PM

#16

Bushwack

Lead Lap

Join Date: Jul 2006

Location: CA

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Quote:

Originally Posted by lisalisa

i calculated buying vs. leasing and leasing was better for me. w/ buying down the mf. it turns out to be cheaper. the lowest rate i got a new car loan was 5.6%. so thats why..is there any other banks that are cheaper. my credit is over 700..

thanks

Don't buy down the MF (currently at .00125 or 3%). If your car gets stolen or totaled (especially early in the lease), that money is gone. Also, Lexus requires a FICO of 730+ for Tier 1 qualification (they use the FICO from Experian).

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07-22-07, 06:37 AM

#17

StevenC56

Driver

Join Date: Jun 2007

Location: California

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EECU Central CA

Quote:

Originally Posted by lisalisa

which credit union is that?

EECU (Educational Employees Credit Union) We have been doing all our banking with them for 25 years or more. They are awesome!

Here is a link on their qualifications for membership:
http://www.eecufresno.org/home/abo.abo_bec_eli

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07-22-07, 09:42 AM

#18

lisalisa

Pole Position

Join Date: Jun 2004

Location: California

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Quote:

Originally Posted by Bushwack

as much as i would love to sign today, if anyone would honor the .00125 MF. Noone has or says they have never seen the listing i got from

http://forums.roadfly.com/forums/fin...um=504&page=1t.

they all they that they check w/ lexus financial and they say its unheard of. and that it doesnt exist.

do you know what the next MF would be if my fico was lower than a 730? how much higher does it go up? does the dealer have any control over this?

thanks.

do u mind me asking Bushwack, where you got the MF .00125 too?

thanks

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07-23-07, 07:56 PM

#19

aptekcom

Driver School Candidate

Join Date: Apr 2007

Location: TX

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I finally pulled the trigger on my purchase / lease today...So you know, the money factor IS negotiable. The dealers (3 of them) claim that the money factor is actually .00265...The dealers buy the money from Lexus at .00165, so after all of my negotiations, I was happy to settle for .00195, plus $700 over invoice (including a free Formula 1 Tint Job)...so...now the wait begins. My car is on the boat on the way to LA, then to Dallas, then to me!

Yahoo!!