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Leasing a Mercedes Benz ML350 with good score but short credit history

tech21
New Visitor

Leasing a Mercedes Benz ML350 with good score but short credit history

I'm considering leasing a Mercedes Benz ML350 ($60k)

I have a descent credit score (734) but a short credit history of around 1.5 years. My oldest credit card account is 1 yr old but no late payments or deragatory marks.

I do have a 100k+ salary and no other financial obligations such as mortgage or loans which should probably help my case.

Short credit history seems to be the primary issue.

What are my chances for getting  approveda for a lease? What kind of rate tier, in your opnion, could I qualify for?

 

Thanks.

Current Score: EX:734 TU: 735
Length of credit history: 1.5 years
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2 REPLIES 2
Dustink
Valued Contributor

Re: Leasing a Mercedes Benz ML350 with good score but short credit history

Are you thinking about getting a home? If you get the home before the auto, your DTI will be in better shape for the mortgage.

 

The auto lenders like to see 2 years of history. You likely would not get top tier yet, but at the two year mark you have a shot.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
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Creditaddict
Legendary Contributor

Re: Leasing a Mercedes Benz ML350 with good score but short credit history

I would be surprised if you didn't get... but if you have no auto history might have more issues... but depending what city you are in and how big dealership, they should be able to push that through no issues.

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