I am not an expert. For me they just noted how much liability I have to LFS which is less than 1K.
Most cars donāt break often enough to recoup the cost of the coverage, which is the entire reason the warranty companies can make a profit.
And most cars donāt need as little attention as the average Lexus. Iād love for our '08 to die so I could make a stronger case to replace it, but even minor things refuse to break.
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My Mortgage Refinace guy told me donāt go out and finance Big items like Car if you looking for a Home mortgage. They look at everything you be paying each month. Pay cash and once you get house finance then Re- finance the Car.
yes that is true in a general sense.
yeah if you do not have an auto loan currently but you are in the process of buying house, you should not close on a new high balance auto loan as it will throw off the DTI.
but if you have enough cash to pay the down payment & pay cash for a new car, you should (in theory) have no issues with mortgage.
yeah, I have no issue with mortgage but my rate depends to my score.
There are more factors that go into it.
Mostly the advice not to close on big item before closing is to avoid huge impact to DTI specially if you are really at the edge of your buying power.
Itās a good precaution to take no doubt.
surprise, surpriseā¦ LFS did extend my lease for the 3rd time. I am leasing this car for 4.5 years instead of 3 years.
Never heard that beforeā¦ I think the low inventory pushed the industry to the corners and opens new possibilities.
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Wowā¦ Iām surprised they allowed it instead of forcing you to give to rip some more profits
May be they not leasing that many cars nowadays so they decided for the lease to continue and keep the lease $$$ stream alive.
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That is a smart move
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