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New Visitor
Posts: 2
Registered: ‎08-11-2017
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Would I get approved for a lease transfer?

I was hoping some insight would help before I apply for a lease transfer loan through US Bank...
Credit Karma Scores: TU 525 EX 551
2 credit cards all under 40% utilization, 2 unsecured personal loans (balance began at $39k) current balances 29k.
No previous auto history
Longest trade line : 8 years
No mortgage
14 total late payments in the last 24 months (currently disputing because they were due to a divorce)
2 collection accounts - were to be removed in June but has not been updated.

I'm trying to get approved for a lease transfer, 22 remaining months, car payment is $830.

My income is $104k.

Anyone think this is possible with my scores?
New Contributor
Posts: 53
Registered: ‎07-09-2016
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Re: Would I get approved for a lease transfer?

Very good chance you will be denied for the lease transfer. They tend to be harder and the 830 payment is extreme for someone in the 5s
New Visitor
Posts: 2
Registered: ‎08-11-2017
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Re: Would I get approved for a lease transfer?

Would a co-borrower with 680+ increase the chance?
Established Contributor
Posts: 649
Registered: ‎06-04-2015
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Re: Would I get approved for a lease transfer?

Personally, I'd revisit this idea when you have the $29k in personal loans paid off, your credit card utilization under control, and are consistently making payments on time.

Ch 7 Discharge May 2015: EQ 588/TU 552/EX 570
Sept 2017: EQ 679/TU 660/EX 668 w/ 24% CC util reporting
Discover/Target/NFCU CLOC/NFCU Cash Rewards/PenFed Power Cash Rewards - $46k total revolving

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