Same here, they said they would sell me part of the dealership if I wanted it based on FICO. I think the higher your credit score the lower the other requirements become and vise versa, California's average FICO is 649 so if you are coming in 200 points above that I don't think they really require much but a license and insurance.

 

LFS looks at your income and credit. LFS also has credit tiers which go by your credit for your lease rates. I had to show them proof of my pay stub and banks ran my credit about 3 times which really hurt it.. They asked a lot from me because I was a first time buyer, 20 years old in the military.

 

You make it sound like they weren't intentionally doing it.
If you got the money, why not buy it? I imagine is a better deal esp. if you credit score is not high. If your credit score is high, I don't think you need to worry about too much on them not giving you a lease.

 

Also as other people have said, I didn't have to prove income at all when I bought my IS350. I was actually a bit surprised, but all they did was run my credit and take my trade-in and I was good to go.

And sorry about jumping to conclusions. Lots of kids (people in their 20s) on this forum and I can only assume the worst sometimes.

 

If your S/E you may need to send tax returns for the previous year to verify your income. There are also tools that the banks will use to check the range of income shown on your application. With a high fico they may accept your stated income without requesting proof.

 

I'm going with leasing, b/c I'm not sure if I like it enough to keep it more than 3 years.

You are right, I probably should be fine with 750+ credit score.

Thanks.

 

Quick Question...

I'm a 20 year old college student, working full time and averaging around 3800 monthly income and I was wondering if I would get approved by lexus financial to lease a 2014 GS 350 F Sport?
Here is my data:
My credit score for all 3 is 721, and I've had a credit history for over 1.5 years now. I have 4 credit cards open thus far. Let me know what you fellas think. Thanks

 

You are pretty young but if you can prove you can handle the payment which will be quite high I would imagine. Probably will need another signer on the lease though at that age. Depending how bad they want to sell a car you might be okay. That is like a $59,000 car you know, might want to look at something less expensive.

 

See responses here:

https://www.clublexus.com/forums/car...ml#post8466736

 

Beyond a typical credit check i was never asked to show proof of income.

 

I was in the same position as you for my IS though. I think they'd ask for a co-signer, & if you can afford the monthly, your pretty much good.

 

if you have to ask this question, than that mean it's out of your budget. Don't stress your income over a car. It's not wortht it.

 

Definitely... at 20 y.o. it's really not the time to spend your hard earned money on a depreciating asset. Word of advice : unless your parents are millionaires, don't do this... not at your age!

 

No offense at all, but I would suggest not go for a GS F-S for a few reasons:
You're only 20... With that pay, if you want a Lexus... the most I would go is the IS F-S, if not, the CT200h.
GS is honestly an overkill for you at this stage.

Apologies if this offends you.