Ford Lease

[Anonymous]

Hello everyone trying to lease a new Ford Explorer ST. My wife score is 690 but no income coming but I'm co signing for her for them to use my income. My score ain't that great. Would we get approved?

[MudkipsRKooL]

I don't think that's enough information to go by to suggest anything. Personally never co-sign unless that person is actively looking for work or has *potential. You should tell us your income, how much money left over from expenses, DTI etc... How much personal savings you saved up? and can you afford 6 months of late payments on top of unexpected emergency (lost of work/accident). Is this person a releiable person? How much is the car? year? and APR etc... Just look at facebook with those "Ford" stories that goes something like this...

"I've co-signed for a 5 year old Ford truck, that's worth 30K after taxes etc.. it's 50K.. we're just done with 20K in paying it and now it's worth only 10K, should I let repo take over the car? APR is 30%". 

[Shooting-For-800]

^ it is his wife and a lease...

OP - what are your scores and income?

[Anonymous]

My monthly income is 5,500 and my wife score is 680

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@MudkipsRKooL wrote:

I don't think that's enough information to go by to suggest anything. Personally never co-sign unless that person is actively looking for work or has *potential. You should tell us your income, how much money left over from expenses, DTI etc... How much personal savings you saved up? and can you afford 6 months of late payments on top of unexpected emergency (lost of work/accident). Is this person a releiable person? How much is the car? year? and APR etc... Just look at facebook with those "Ford" stories that goes something like this...

"I've co-signed for a 5 year old Ford truck, that's worth 30K after taxes etc.. it's 50K.. we're just done with 20K in paying it and now it's worth only 10K, should I let repo take over the car? APR is 30%". 

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@MudkipsRKooL wrote:

I don't think that's enough information to go by to suggest anything. Personally never co-sign unless that person is actively looking for work or has *potential. You should tell us your income, how much money left over from expenses, DTI etc... How much personal savings you saved up? and can you afford 6 months of late payments on top of unexpected emergency (lost of work/accident). Is this person a releiable person? How much is the car? year? and APR etc... Just look at facebook with those "Ford" stories that goes something like this...

"I've co-signed for a 5 year old Ford truck, that's worth 30K after taxes etc.. it's 50K.. we're just done with 20K in paying it and now it's worth only 10K, should I let repo take over the car? APR is 30%". 

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@MudkipsRKooL wrote:

I don't think that's enough information to go by to suggest anything. Personally never co-sign unless that person is actively looking for work or has *potential. You should tell us your income, how much money left over from expenses, DTI etc... How much personal savings you saved up? and can you afford 6 months of late payments on top of unexpected emergency (lost of work/accident). Is this person a releiable person? How much is the car? year? and APR etc... Just look at facebook with those "Ford" stories that goes something like this...

"I've co-signed for a 5 year old Ford truck, that's worth 30K after taxes etc.. it's 50K.. we're just done with 20K in paying it and now it's worth only 10K, should I let repo take over the car? APR is 30%". 

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[Anonymous]

5,500 monthly income wife score 680

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@Shooting-For-800 wrote:

^ it is his wife and a lease...

OP - what are your scores and income?

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@Shooting-For-800 wrote:

^ it is his wife and a lease...

OP - what are your scores and income?

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[Anonymous]

OP, I don't believe we can reliably predict your chance of approval or not. We only know your wife's score, her income, and your income. To really determine if this is something that is feasible we would need more data. Since you would be co-signing your score is  going to impact the approval as well. What are your monthly obligations? Do you rent or own your house and what is the payment on that? Do either of you have any previous auto history? If so, what is the payment history like on previous auto loans? Do you have any open installment loans? How many credit cards do you have open? What is your current utilization?

Without knowing these details I would say that you should likely be approved, maybe not for the top tier, but you should be approved. Any serious past derogatories or current high utilization/high debt to income ratio could easily keep you from getting an approval.

[barca]

@Anonymous 

go to capital one auto navigatior.

it is a soft pull and you will see the rates and amounts if you are approve.

click on the joint application.

https://www.capitalone.com/cars/prequalify