@Anonymous wrote:
I'm looking to lease a '19 XC40 for 36 months, which sells for $46K. I was hoping to a) be approved by Volvo and b) get a good rate.
What are my odds? Note: My debt to income ratio is ~39%, credit usage is ~66%, income is ~$100K (I also have a perfect payment history for all car payments and credits cards, I'm in my late 20s)
Although its impossible to say yes or no, I'd say given the MSRP of the vehicle, your income, scores, and lack of derogs you have a good chance of being approved. You said "perfect history of car and credit card payments" are there any issues with other credit extensions (student loans, mortgage, installment loans, et al)? The only red flag I see is the 66% "credit usage" and if that means you are using 2/3's of your available credit card lines and carrying that as a balance each month, you need to address that before buying/leasing a new vehicle in my opinion for cash-flow, budget and getting the lease approved.
