UnThreaded | Threaded | Whole Thread (90) | Ignore Thread Prev | Next
Author: Booa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308644  
Subject: Re: Do NOT apply for a Capital One credit card!! Date: 8/27/2004 5:33 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 9
A low fico score can be very costly. A buddy of mine picked up his lifetime dream car, a lexus RX330, yesterday. Since he made the mistake of co-signing a loan for his stepdaughter, and she made two payments late last year, his score is 674. That made his payments, according to the Lexus dealer, $30/month higher. If he had been over 700, he would have saved about $1400 over the 48 month term of the lease.

Um. $30/month seems an insignificant amount in the face of *leasing* a car for four years. Having a low FICO also seems less costly than choosing to lease the car of one's dreams rather than waiting to save up the money to buy it or a more modest car (though certainly it's true the low FICO doesn't help).

I understand wanting something really, really badly. I just think it's funny to consider $1400 costly in light of what his decision to lease this particular car at all is likely to cost him.


--Booa (not trying to say you should never buy the car of your dreams, just struck by the difference in order of magnitude of the price of things--$30 vs. the monthly lease cost)
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (90) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Value Hounds

Clorox Isn't Cleaning Up
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement