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DTI necessary for auto loan or lease approval?

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skigirl916
Established Contributor

DTI necessary for auto loan or lease approval?

I'm a year away from deciding whether to buy my leased Acura, or trade it in for a new one. I like to plan. It's currently leased through Acura.

 

And it got me thinking, what DTI do I need to get approved for a loan? For a lease? I've only ever been concerned about DTI for purposes of mortgages, so I want to be sure I'm okay a year from now.

 

Thanks!

1 REPLY 1
OmarGB9
Community Leader
Super Contributor

Re: DTI necessary for auto loan or lease approval?

It depends on the lender, honestly. CUs tend to be a bit more lenient with it. But as a general rule, I'd say try to keep it under 36%.


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