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Would I get approved for a lease transfer?

New Visitor

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?
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3 REPLIES
New Contributor

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
Message 2 of 4
New Visitor

Re: Would I get approved for a lease transfer?

Would a co-borrower with 680+ increase the chance?
Message 3 of 4
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Established Contributor

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
Nov 2017: EQ 683/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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