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Posted in Auto Loans
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Question By
Fisgar

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Lease transfer-- is it worth the application with my current score?
Hello! So I've done a whole lot of research on how to transfer a lease, but it's hard to guess how well my credit will fare with the transfer. I'm not the pickiest when it comes to cars and certainly don't need anything fancy, but came across a great deal with a wide gap for residual on a 2015 Infiniti Q50, and the buyout equity in 13 months might be too good to pass up if I'm judging the depreciation of this car and similar models correctly. Thing is, my credit scores are 688 and 685-- it was several points higher but I received a couple credit inquiries. Does anyone have an idea whether or not that's enough to throw down $250 for the credit application?

If it isn't I can wait to nab another car in a month because a representative at the Department of Education just informed me today that all of my student late loan payments should be stricken from my credit report thanks to my loan rehabilitation. I really didn't expect this, but they told me what to say to tell the Bureaus and I'm pretty excited about it. My student loans are the only thing really weighing down my credit score.

That said, it seems obvious to be patient and wait for confirmation of the scores in a month, but if my odds seem good then it'd be nice to have something to drive for the moment. If my odds don't seem too great then I can wait or get something else.

Thanks for the help :D

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First, auto lenders use FICO scores, not the ones that you get here and I sure would not ever pay $250 to fill out an application. That is ridiculous.

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