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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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Question on Lease

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I am looking at leasing a new car price around 38500 that includes 3500.00 rolled up negitive equity in the new car. my credit score is in the mid 500 i have a had  some late payments but my payment history is 97% My income is 33,500 a year . Now I do have a cosigner ther credit score is 680-700 payment history 99% and there income is around 92,000 a year. I am sure we will not be prime due to my credit score but should there be a issue with getting approved on the new lease.

Reply by
Jenbug421

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As long as you have a cosigner, there shouldn't be any issues. A cosigner would help greatly in your situation, not only they have good credit but they have very good income.

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Auto lease

So I am looking to lease a new dodge and I have a 672 score and I make around 85k a year but I have minimal tradelines with only a few credit cards! I have not leased or bought a car in my name and I am wondering if this will be a problem when I go to get approved ???

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Car Loan

I have a 640 credit score and I make about $600 every two weeks and $3000 thousand dollars saved up for a $4899 car do you think I would get approved to get and auto loan 

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Forget about it.

No. Don't ask. It won't happen.

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Auto loan

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I just purchased a suv for 26k with credit score 626 so now credit karma said my score is 640 when can I  refinance 

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Helpful to 3 out of 10 people

yes but you will pay a higher money factor rate than someone with a 740 score

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Flipping the script. 750 score - Lease??

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Interesting and informative conversation. Thanks to all.

With all due respect to the OP and question, I came on here today (via a Google search) to get more leasing info and "min credit scores needed" to lease, as I always assumed that no one under 720 would ever get a Mfg. lease!?! Obviously I was wrong given the amount of leases done here - ??

But all that aside, let flip the script some as I need a new car for 1-2 years w/low monthly payments... (hence looking into leasing) Also because I split my time between here and England (and the UK obviously has the steering wheel on the wrong side), so am thinking it’d just be easier to lease something here, turn it in at the end... and then do the same over there?  But every Ad I’ve ever seen always says (like from BMW or Benz) all say in their fine print “For well qualified buyers ONLY” - So, to me that is like for those in the 750-800 credit-world, no? I’m amazed to hear that ppl got leases at 9%APR with a <640 scores here? Wish I’d researched this years ago now!?! :(

ANYWAY - I just broke the 750 barrier DEC 1st and figured now is the time to act before my score slides down a bit with Christmas gifts $$ coming - so given the aforementioned situation... I’ll sell my current beater for around $6500 but don’t really wanna throw that $$ all back into another car or note. So to those far brighter than me, with a 750+ score, what are my options or what can I expect at a dealership? What would you do? I know VW had some “sign and drive” type deal - but not a fan of VW’s... Looking at a used $29K AWD for here in the Rockies with winter coming... but also need a sedan for work/clients (currently have an Eddie Bauer SUV) But looking at AWD Benz’s, BMW sedans and the Jag F-Pace) I dunno  ...

Whatever the case, any car finance gurus out there that can advise me? First time in my life I’ve been higher than 720 and have always bought before - so this lease stuff is all new to me - thanks!!  

Apologies to the OP  - I didn’t mean to hijack your thread  but it kinda ties in ;) 

Cheers-

BB

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Lease?

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I have a credit score of 653 on one and 681 on another. No idea how I have such a high score. I stopped paying on accounts about 4 years ago and just kinda gave up. Expected I'd have a score in the low 400s. Anyways, I want to lease a car. I would be using it for pizza delivery part time and uber. The area I work in is a gold mine for both. I have no idea how leasing works. Is it possible to lease with those intended purposes in mind? Does it even matter? Really I guess my biggest issue would be mileage limits. I'd like a reasonable lease rate with little to no restrictions on mileage 

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