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Leasing a car

bella82
New Member

Leasing a car

Hello, Anyone know much about leasing cars??? I have never bought a car before and my credit needs improvement. However leasing seems like a good option for me because of the low down payment and low monthly payments. My scores are TU/620 EQ/506 EX/553. Would it even be possible for me to lease a car with out a cosigner??? If so where do I start?
Message 1 of 8
7 REPLIES 7
booboo
Valued Member

Re: Leasing a car

No, you would not qualify with those scores. You need to get your scores in the 660's to qualify for a decent lease program. Keep working on getting your scores up and you should be there before too long.
 
Message 2 of 8
CreditDrama85
Established Contributor

Re: Leasing a car

if your 620 score was pulled you could lease and maybe with the 530 score. this is if you do not have a BK.
Message 3 of 8
Takunda1
Established Contributor

Re: Leasing a car



bella82 wrote:
Hello, Anyone know much about leasing cars??? I have never bought a car before and my credit needs improvement. However leasing seems like a good option for me because of the low down payment and low monthly payments. My scores are TU/620 EQ/506 EX/553. Would it even be possible for me to lease a car with out a cosigner??? If so where do I start?

 
I believe you may qualify for a lease with your TU score. if the financing company pulls all three I doubt you'd qualify. What are you planning to lease?

Message 4 of 8
TheCynicalOne
Frequent Contributor

Re: Leasing a car

If you shop around you can find some lenders that will look exclusively at particular cras.  I found one that only looked at TU and that was my highest score at the time.
Time is credit's best friend...it can heal any wound.
Message 5 of 8
exploder3211
Established Member

Re: Leasing a car

Chrysler finacial is the one to look at...They are very easy to deal with, esp. on a lease...A friend got a 24 mth lease with a 625 Eq score...He got a 2008 Liberty for 15K a year @299 a month.... Put 2.25K down, but worked out well
Message 6 of 8
bella82
New Member

Re: Leasing a car

Do you have any advise for me, I let several accounts go to collections about 4 years ago, and in the past 3 months I have been really working to pay off my debt and improve my credit. In the past 2 months I would say I paid off over $1500 in past due accounts. I still have one account that I am making monthly payments on the balance is $4,445.00 and 2 other small accounts that I plan on paying off soon. I only have one open credit card account, however it is in good standing. I am only in debt about $5,000.00. I just checked my credit score today and it went down 20 points! I have no idea why. Do you know anything about good will letters? Do they work? Any advise on how I can improve my credit to lease a car.
Message 7 of 8
fico4cash
Member

Re: Leasing a car

Hi,
 
Can anybody tell me what kind of scores you need for Mercedes and BMW leases? Anyone who's leased with these companies please share your experience. Thanks.
 
NG
 
Message 8 of 8
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