MB Financial, No Auto History,

Anonymous · ‎02-09-2015

Hi,

My credit score is Trans Union 658, Equifax 668.

Had 1 late payment

64% Credit Utilization, 99.8% Payment History, 0 Derogatory Marks, Avg Account Age (3y 2mo-TU; 2y10mo-EF; Oldest account 10y 5mo), 32 Total Accounts,

My income is around 180K/year

Got Student Loans and Credit Card Debt

However, I have no history of an auto loan.

My goal is to 1) Lease a Mercedes C Class around 45K$ and 2)Build my Auto Credit which I heard will improve my credit score.

Does anyone know my chances of approval solo without a co-signer? For a 3 yr New Car Lease?

It seems the lack of Auto Loan history is a serious issue. Can the other positive aspects of my credit profile push me through despite this?

TRC_WA · ‎02-10-2015

Your chances would be better if you'd knock down that 64% CC UTI.

FICO8 current as of : 10-20-25 EQ: 736 TU: 728 EX: 722
Hard INQs last 12 months: EQ: 0 | TU: 0 | EX: 0
Verizon Visa $8500 Amex Delta Reserve $10,000 Care Credit $18,000
NFCU CashRewards $7500 Apple Card $7000 Best Buy $8000 Amazon $5000
NFCU auto loan (2022 Ford Bronco Sport Badlands - Cactus Gray) 6.95%
NFCU motorcycle loan (2024 Harley Davidson Road Glide - Alpine Green & Chrome) 9.45%
Total CL: $64,000 --- Total CC UTI: 31% --- AAoA: 6.5 years --- Income: $200k
Last app: 4-6-24

Creditaddict · ‎02-10-2015

@Anonymous wrote:
Hi,
My credit score is Trans Union 658, Equifax 668.
Had 1 late payment
64% Credit Utilization, 99.8% Payment History, 0 Derogatory Marks, Avg Account Age (3y 2mo-TU; 2y10mo-EF; Oldest account 10y 5mo), 32 Total Accounts,
My income is around 180K/year
Got Student Loans and Credit Card Debt

However, I have no history of an auto loan.
My goal is to 1) Lease a Mercedes C Class around 45K$ and 2)Build my Auto Credit which I heard will improve my credit score.

Does anyone know my chances of approval solo without a co-signer? For a 3 yr New Car Lease?
It seems the lack of Auto Loan history is a serious issue. Can the other positive aspects of my credit profile push me through despite this?

1. getting an auto loan to build your fico is well silly.

2. being in credit card debt with $180k income a year and having sub 700 credit scores and thinking about leasing a car is triple silly.

My Suze Orman voice... NO NO NO< DECLINED< ARE YOU KIDDING ME!

Anonymous · ‎02-11-2015

Please, post #2 is so full of jealousy and useless, do us a favor and please keep your little voice inside your head next time, thank you.

Post #1, thanks. Your post was mildy more constructive. I started this job recently therefore I did not have time to immediately lower my credit cards, but I'm working on it as best I can.

Anonymous · ‎02-11-2015

Getting that util down below 50 percent will be a significant score boost for 1. Auto loans have a much lower scale of where "prime" credit starts. What does the rest of your profile look like? 64% of how much? Do you have a mortgage? Or how much is your rent? DTI is a key factor in loans and leases. 180k gives you 15k/ month of income. How much of that is being eaten up by housing and CC min payments.