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Posted in Auto Loans
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Question By
loobusk

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Mercedes Lease Approval? BUT NO AUTO HISTORY.
Hi,
My credit score is Trans Union 658, Equifax 668.
Had 1 late payment
64% Credit Utilization, 99.8% Payment History, 0 Derogatory Marks, Avg Account Age (3y 2mo-TU; 2y10mo-EF; Oldest account 10y 5mo), 32 Total Accounts,
My income is around 180K/year
Got Student Loans and Credit Card Debt

However, I have no history of an auto loan.
My goal is to 1) Lease a Mercedes C Class around 45K$ and 2)Build my Auto Credit which I heard will improve my credit score.

Does anyone know my chances of approval solo without a co-signer? For a 3 yr New Car Lease?
It seems the lack of Auto Loan history is a serious issue. Can the other positive aspects of my credit profile push me through despite this?

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http://blog.credit.com/2014/03/3-things-you-must-do-before-you-lease-a-car-78266/

my friend just got a lease for her mercedez (i work at a collision center) and she has a credit score over 700+ 

Lease requires higher credit score then a purchase! I would think you would need a better score. Just a recomendation

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