Approval for Lease on Corolla?

surehit · ‎05-14-2014

I am trying to purchase my first car and am looking at leasing it, but I'm unsure if I would be approved and was looking for opinions on it.

Credit Score:720 (Transunion)
Income: $30k/year
Lenght of Employment: 2 years
Previous Loan Experience: Student Loans, still on deferment as I'm still a full time student
Debt-to-Income (DTI): No required monthly payments, roughly 10% util on credit cards, 0% APR on them.
Year of Car: 2014

Cost of Car: $21,500
Miles: 0
Loan Term: 24 Month Lease
Down payment amount: $2500
Co-borrower/Co-Signer: Would rather not....

DevotionToU · ‎05-15-2014

Our numbers are pretty similar except I have quite a bit more CC debt, plus I am paying on my one Student Loan and I was approved @ DCU for $22500 @ 1.24. My Oldest acct is ~10 years, AAoA 4 years. No lates, or any derogs ever. Pretty sure you can qualify there. You seem to have a robust CC portfolio.

$18000 Discover IT / $6000 Chase Freedom / $5000 DCU Visa / $3900 Fifth Third / $2500 Capital One Quicksilver / $2000 AMEX Blue Cash Everyday / $500 Chase Slate

Creditaddict · ‎05-15-2014

I wouldn't think it would be a problem with Toyota.