topic Re: MBFS new lease in Auto Loans

MBFS new lease

cship10 — Wed, 11 Dec 2019 21:36:45 GMT

Just wanted to throw this out there to the world. My husband has less than steller credit and a repo from 2015 (1 and a half years before we met) and a few collections we have been working on paying off (10k balances). We have worked on his credit together for the last year and it has finally hit the low 600's from the mid 400's. *things he learned - Reponsibility, money management, and how to say no*. We decided to try for a new car for him (his income is 100k and mine is 120k). I have leased with MBFS several times and currently have a 2020 GLE lease with them. I have had two cars in just my name for going on 2.5 years now really wanted to work towards him being on the loan/lease.

They pull Transunion where his score is 617 and mine is a 750. I went as primary and him as secondary and it went pending tier 2 immediately and with in 2 minutes went to approved! I was previously always tier 1 when apping by my self so I assume the T2 call was due to his credit. Was rather shocked and excited as this gives him an opportunity to reestablish with some auto loan history.

Re: MBFS new lease

DoctorManhattan — Wed, 11 Dec 2019 21:48:40 GMT

That’s so awesome! I recently leased a Jeep GC after my rebuilding journey. Needless to say I was tier 2 but got such a great deal thanks to my buddy. I’m happy for you and your husband. After this lease is up I hope to be tier 1

Re: MBFS new lease

CreditCuriosity — Wed, 11 Dec 2019 22:06:56 GMT

Congrats.. Just curious why you didnt take care of the collections first prior to getting an expensive MB lease? Dont get me wrong I drive Mercedes and other nice cars, but i would personally prefer to take care of 10k+ in collections first. Just my 2 cents. Only reason i mention this is you mention :*things he learned - Reponsibility, money management, and how to say no*" to him in your thread, but this seems to contradict that?

Re: MBFS new lease

cship10 — Wed, 11 Dec 2019 22:13:48 GMT

My bonus check is coming in that will wipe out two of the remaining large balances and his bonus check comes in January and will be in the realm of 30k (not included in his income listed above) We kept our payment the same so it was more so to help start establishing a installment loan history. A small coupe with a family of 4 isn’t conducive to us and I work for MB so qualified for some massive discounts. We looked at other SUV’s and the payments were more.

Re: MBFS new lease

Anonymous — Thu, 12 Dec 2019 01:38:38 GMT

Just curious if you don't mind what your scores were for tier 2 Jeep lease and what bureau was pulled. Thank you.