topic Re: Is there a minimum income requirement for leasing? in Auto Loans

Is there a minimum income requirement for leasing?

Venom911 — Tue, 09 May 2017 05:02:59 GMT

I'm looking to lease a new car with MSRP $30,000. I currently have a car loan for a almost a year with perfect payment history. However, My gross income is around $25,000.My current payment and the new lease payment are almost the same that's why I'm considering it.
Fico Scores: EX 736 EQ: 743 TU: 746 . Very low utilization 1 - 2%. Always paid in full. No baddies.

Do u guys think I'll qualify or no?

Re: Is there a minimum income requirement for leasing?

Anonymous — Tue, 09 May 2017 22:23:06 GMT

Your car loan that your currently have doesn't just vanish when you trade in for a lease, so I think it will be unlikely.

Re: Is there a minimum income requirement for leasing?

Appleman — Wed, 10 May 2017 03:13:45 GMT

If I understand your question, you are looking to trade in a vehicle and lease the new one?

Your scores and good auto payment history should certainly qualify you for a lease. You will likely get the best lease deal on a manufacturer sponsored lease.