Hi all,
I currently have an outstanding car loan with DCU, 65 months @ 1.74%, payment is ~$290. Total principle balance of $14.7K remains, trade value of vehicle sits around $22K. I have some other auto loan history, 10+ revolving credit lines with near $0 reporting balances. 1% DTI. FICO in the ~760s across all three bureaus, no baddies at all, ~2yr AAoA.
I'm looking to trade in my current vehicle and lease one of Ford's PHEV vehicles, and specifically a lease due to the significant likelihood for changes in the EV market over the next few years, I'd rather not lock myself into vehicle ownership.
I have a blank, no credit pull, check for up to $40K from DCU, but as I want to lease, I now need to worry if Ford Credit will approve me. Gross annual income sits around $36K, and my only other liability is rent payment which is $600 a month.
So is ford going to be gross income unfriendly, or will I have good luck here?
