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Likely hood of auto finance/lease approval?

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Anonymous
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Likely hood of auto finance/lease approval?

Hello everyone, I am very curious as to whether or not I would be approved for an auto loan/lease with my current FICO auto scores.  Currently my FICO auto 8 scores are as followed Equifax: 684, Experian: 682, and TransUnion: 679.  The only negative item in my credit report is one medical collection, as a matter of fact, I just recently paid off another med collection and that actually helped raise my scores.  I am currently looking to finance or lease (whitchever is more economical for me) either a new Audi or Lexus (possibly a regular Toyota).  I look forward to everyone's responses, thank you.

Message 1 of 5
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Anonymous
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Re: Likely hood of auto finance/lease approval?

It depends on what your score consist of. What is your highest individual credit? What price range of vechile are you shopping for? How old is your oldest individual trade line? DTI? I could better answer you.
Message 2 of 5
Anonymous
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Re: Likely hood of auto finance/lease approval?

My DTI is like $25000/$150,000 and my oldest line of credit is like 4 years 6 months. The price of the vehicles I’m looking at is between $30,000 to $72,000 (I know that is a huge price range).
Message 3 of 5
Anonymous
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Re: Likely hood of auto finance/lease approval?


@Anonymous wrote:

Hello everyone, I am very curious as to whether or not I would be approved for an auto loan/lease ...


I see no reason you would not be approved. A healthy downpayment will ensure more favorable terms. 

Good luck.

Message 4 of 5
Anonymous
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Re: Likely hood of auto finance/lease approval?

@James_A Thanks!

Message 5 of 5
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