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Posted in Auto Loans
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Question By
Arte003

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want to lease a car, is 640 score enough?
I want to lease a car from ford. I have a 640 score. I have a high debt ratio but I have been making above minimum payments and have low risk. But is that enough to lease a $15k car? My car is dead so I need one and leasing is for me.

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Helpful to 116 out of 120 people

I work in auto finance underwriting and funding. You'd be considered a sub-prime customer so you'd get a poor interest rate, but as long as you were to make your payments on time, etc. then getting the car would benefit your credit score. A 640 credit score should definitely be qualified enough to lease a $15k car. When you need to worry about getting a car is when someone's credit score reaches 599 or less - that's when they are what's called "super sub-prime". When you get your credit score 700 or above, you'll be prime and there won't be much attention paid to your debt ratio because you'll have the qualified credit. 

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Reply by
Vlanson

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71 People Helped
Helpful to 4 out of 14 people

I’d like to share my story too. Just a few weeks ago i was homeless, i was jilted by my online lover. and he had robbed me of everything i had. By the time i realized i was being played, my credit score was already 458 , i had an eviction on my report and a large debt on my credit. I was on my way to the little corner behind the store where i normally sleep when i saw a fellow homeless person who i met some days ago and he was looking so changed and successful. I immediately began to beg him to tell me how he made it so fast and because i had told him my story when we previously met, he understood my problem and gave me the contact of the hacker that helped him. i contacted the programmer (ex FICO and Experian agent) and he fixed my credit, raised my credit score and cleared all negative listings on my credit in less than 9 days. I would have kept quiet about this, but i won't be able to forgive myself for not helping people who are in terrible conditions like i was. "gmorrison741 @ g m a i l . c o m" is the programmer's email address. I wish you good-luck. Y’all can thank me later. 

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16 People Helped

Wanting to lease

Helpful to 16 out of 19 people

I have a 637 credit score. Just bought a 350k home. I am needing to trade my vehicle in and a bit upside down. Looking to lease to offset negative equity. Credit payment is excellent just the loan inquiries and new debt dropped score. Established income and job history. Looking for a 45-50k truck on a 3 year lease. Is it possible?

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33 People Helped

lease

Helpful to 28 out of 36 people

I have a 658 credit score and wanted to lease a 40,000 dollar car.. is that possible? .advice please

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12 People Helped

Trying to LEASE

Helpful to 12 out of 15 people

I have a credit score of 570 I have a 2008 Chevy Malibu with a balance of 8,900 very high interest rate I've had it for almost 2 years !!! I also have a jeep with a 3,000 balance owed but I don't have the car it was totaled out and insurance company left that 3,000 balance on that jeep , I want to lease a 2017 40,000 car is it possible to roll that 3,000 over from the jeep into a new car if I don't have the car anymore and with my low credit score ?????? Please help I really need a car but if I'm gonna pay I prefer for it to be on what I want ! 

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14 People Helped

Help Please! Credit Score Of 648

Helpful to 14 out of 22 people

Can I lease a new car with a credit score of 648 on a $30-$40,000 car? I've been at my job for 6 years and my annual income is $80,000. Any advice would be incredibly helpful! 

Thank you! 

Reply by
Jenbug421

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14 People Helped
Helpful to 5 out of 7 people

You should have no issues leasing a car with that kind of income and credit score. Any bank would be stupid not to approve you.

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