I am looking into applying for an AUTO Lease with Toyota for a '14 Corolla.
I would like to know which bureau they pull
My Scores are 655-EQ 656-TU and 673-EXP. (All FICO)
I have a 11+ inquiries because I was trying to establish credit within the last 2 years and kept applying.
5Accounts
299/300 - Bank of America
0/500 - Discover
0/500 - Capitol One
100/250 - Victoria Secret
123/150 - Fingerhut
450/1000 - Bill Me LAter (Does not report to bureaus at all.)
On Monday, I'm going to be paying off the bank of america in full.
I would like some feedback on the likelihood of being approved for the promotional leases that are going on now with them.
I'm 20, and I will be a first time lessee and I will most likely have a cosigner of all else fails.
Feedback Please.
Starting Score: 650
With those scores and being a first time buyer I am almost certain that Toyota is going to require a co-signer to do any deal unless you are buying instead of leasing and bringing a substantial (20%) down payment to the deal.
Just a few questions that would help anyone offering advice -
Are you employed? And if so for how long and what is your income?
Why are you considering a lease instead of purchase?
Would you be willing to consider a certified used car instead of new?
I'm not saying your deal can't be done and you may have already thought through the what you want and why but honestly it is going to present some challenges with your short history. Good Luck to you.
Starting Score: 500's
