Credit Repair

Is 709 A Good Credit Score – HOW BAD CREDIT WORKS WITH AN AUTO LEASE

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Is 709 A Good Credit Score – Most Popular?

In this video, I discuss what your credit score translates to when calculating a car lease.

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Just like an auto loan has an APR, a car lease has a Money Factor. The Money Factor on an auto lease is the same thing as a Interest Rate or APR on an auto loan. The difference is, most auto loans can be shopped around to a wide variety of banks. With most auto leases, with the exception of a few independent lease companies, you are tied into whatever the Manufacturers Bank (ie, Nissan NMAC, VW Credit, GM Financial) states that the Interest Rate or Money Factor is for that auto lease.

Keep in mind the following:

Usually anything below a 650 Credit Score is considered Tier 6-9. This typically adds between 5-8% APR to your standard Money Factor.
For example, if the standard Money Factor available for those with a 720+ Credit Score is 1% APR, your APR or Money Factor will be 5-8% higher.
In leasing, this is what that would actually look like:

Tier One Money Factor: .0005
Tier 6 Money Factor Adder: .00165
—————————
Final Money Factor: .00170 or 4% APR

It is usually much higher on Tier 7 or 8, or basically close to a 600 or less credit score.

Thanks for watching the Is 709 A Good Credit Score video!

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38 Comments

  1. Test MB
    July 25, 2021 at 8:53 am

    Thanks!

  2. Stephan Cunningham
    July 25, 2021 at 8:53 am

    I really want to lease a 2021 Dodge Charger Gt, but it seems like I can only afford to lease a new Hyundai Elantra.

  3. Carson Taylor
    July 25, 2021 at 8:53 am

    What about Audi? For your list

  4. Wells
    July 25, 2021 at 8:53 am

    Couldn’t watch the whole video but what is the difference between trading in a finance car every 3 years vs leasing

  5. Annabeth Hollie Griffith
    July 25, 2021 at 8:53 am

    I'm in California, I bought a vehicle, but in my shopping I had 12 hard inquiries done in a one month period, I have heard (and I can't remember where) that in Ca. if you BUY a vehicle within 30 days of the first inquiry that any inquiries within that 30 day period would be combined into ONE inquiry. But this has not been changed on my reports which is giving me headache along side collections, charge offs & tax liens but few weeks ago I read about SolutionX credit repair experise from an article created from 2015 by a UK blogger. They didn't only delete all negative items that's giving me headache, they also raise by score by 265pts in under 1 weeks using them, you can also contact SOlutionX to help fix all your credit problems via email Fixxhackxspy @ gmail com or text + 1 708986 1427 and dont forget to thak me later

  6. Anna Lugo
    July 25, 2021 at 8:53 am

    Great vid 👍! Now how does this all apply when you have no credit are self imployed but have a co-signer with really good credit & is employed with pay stubs? 😏

  7. Gwin Willis
    July 25, 2021 at 8:53 am

    hello dude

  8. SmileXo3
    July 25, 2021 at 8:53 am

    Is Hyundai tough to get a lease with poor credit? Do you know what’s the lowest credit score to lease there? Thank you

  9. mrsmith562
    July 25, 2021 at 8:53 am

    What about Kia?

  10. Christopher Casado
    July 25, 2021 at 8:53 am

    Great content 👍🏾

  11. Steven Harwood
    July 25, 2021 at 8:53 am

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  12. Nazstorytime
    July 25, 2021 at 8:53 am

    Ok so I’m am 16 and I don’t want to buy a car I want to pay monthly payments and I just started building my credit will I still be able to get the car and pay monthly payments ?

  13. Ali Jaffery
    July 25, 2021 at 8:53 am

    High school should too

  14. Ernesto Villa
    July 25, 2021 at 8:53 am

    If I’m 600 what’s next $$

  15. Joseph Strongbow
    July 25, 2021 at 8:53 am

    You should contact David Winter via email at davidwinter46565@gmail.com or on WhatsApp at +1(361) 245-0314 or on Instagram at winter_ability_. He would help you all legitimate services on your credit score, credit card, bank account, bitcoin, forex account, PayPal, G-Cash, cash app, clear debts and many more.He does not take upfront payment and he is fast and reliable.

  16. Diana Freel
    July 25, 2021 at 8:53 am

    Ari, you talk about getting the best deal of cars on the lot. The toyota tacoma TRD pro is one the dealerships are not giving any discounts. Is it best to order a truck to save all the BS stuff the dealerships add on to boost profits?

  17. rolando mendoza
    July 25, 2021 at 8:53 am

    I went to hundai and i had a score of 600 and was offered a 20 percent apr on a 2016 kia optima selling for 20,000 … First time buyer am i getting screwed cuz i feel like i am lmao but i wouldnt know since its my first car buying from a dealer??

  18. Matthew Womack
    July 25, 2021 at 8:53 am

    I appreciate the
    knowledge you share while making us laugh too! 🙌🏾

  19. Clyde Stilo
    July 25, 2021 at 8:53 am

    My credit score is 247…l got deported because of it😖😖

  20. J-A-C-90
    July 25, 2021 at 8:53 am

    My score is 199 :/

  21. S L I C E
    July 25, 2021 at 8:53 am

    My transunion is 616 and equifax is 683 on credit carma. What one should i go by? How do i calculate my fico score? The only car loans being offered to me are over 24% interest!. I desperately need a car. But Dont wanna be robbed

  22. Ramses Leon
    July 25, 2021 at 8:53 am

    Hey man, thanks for video is very helpful
    I wanted to ask how affects when buying a car if I don’t have long credit history
    I have 673 fico score, but my credit history is less than a year
    I just turn 20 my parents gave some money for a car, so I just would have to loan a max of $10k
    I’m thinking of getting a Mazda, Kia, or Volkswagen

  23. JC O
    July 25, 2021 at 8:53 am

    You said VW accepts people with bad credit on their leases and Which VW dealer in Boston does this?
    I’m shopping around

  24. La Techie
    July 25, 2021 at 8:53 am

    Great vid Ari! Just what I was looking for as I will soon be in the market for a mid to full sized truck to pull my small alum. boat. One question though… where does Ford rank on the difficulty level based on credit score? My Creditwise score is 658 and my Credit Karma is 672, I'm not sure what my FICO is yet. Thanks so much for sharing your insider knowledge!

  25. Big Ace Boogie Woogie
    July 25, 2021 at 8:53 am

    I subscribed just because of the jokes. You had me cracking up. 😂😂😂😂 thanks for the info

  26. tomkelly00
    July 25, 2021 at 8:53 am

    Was just shopping Hyundai and they require 720 to lease

  27. Emil G
    July 25, 2021 at 8:53 am

    Shit, gotta take the -ian off my last name I guess. Can that be considered a civil rights issue with the leasing companies? Anyways…

  28. Watchuumeeaannn
    July 25, 2021 at 8:53 am

    I’m 18 years old and I’m trying to buy my first car I saved 4000 usd and I have a 680 credit am I ready to buy a car or should I wait till my credit score goes more up ?

  29. J Powell
    July 25, 2021 at 8:53 am

    Why does credit matter on a lease .. you’re not buying the car

  30. azrael
    July 25, 2021 at 8:53 am

    So.. what did you say about buying a mustang with bad credit? what do i do?

  31. Joe D
    July 25, 2021 at 8:53 am

    Hi!

    looking to lease a used bmw 750 i 2017.

    New 114 k now 45 k.
    What should a realistic payment be on 36 mo and 4000 "down" if necessary.
    700 score.

    tx for any help

  32. Jetty Shaw
    July 25, 2021 at 8:53 am

    New Subbie! Thanks for the information😄

  33. Sam A.
    July 25, 2021 at 8:53 am

    I am 16 years old and have saved up $8,000. I want to finance a 2015 mustang that costs $12,000 total. My dad has to be my co-signer, but he has a 500 range credit. Do you think they would accept a finance under these circumstances?

  34. Designer Boiz
    July 25, 2021 at 8:53 am

    I'm a new sub I love how give crucial advice and have a good sense of humor! Great video

  35. mooploops03
    July 25, 2021 at 8:53 am

    I co-signed with my dad to get my sister a car so it needed to be done ASAP. Long story short, it was obviously a dumb decision that I got guilted into. I ended up having to take the car back and pay it myself. At the time, my credit score was 555. Capital One financed the 2012 Toyota Yaris (dumbest car ever, btw) at 21%. After paying on it for 6 years, I’ve actually paid over $25,000 for the purchase price of $15,000. I can now get financed from my credit union for 4% for a 2019 something because my credit is so much better. Bottom line, keep your credit healthy!

  36. Misael David
    July 25, 2021 at 8:53 am

    You're freaking helpful!!

  37. austin owens
    July 25, 2021 at 8:53 am

    610 =10%

  38. Mercules
    July 25, 2021 at 8:53 am

    I have a 751 FICO and I want to finance a 2015 Dodge Charger SXT with 0 down what’s my chances?