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Minimum credit scores for different car companies to lease?

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Valued Member

Minimum credit scores for different car companies to lease?

So I am working on rebuilding my credit. So far I am right around a 650 with the auto enhanced score. What are the minimum credit scores for the different car companies to lease a vehicle?

 

Like is ford a 650, dodge a 650, etc etc?

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Established Member

Re: Minimum credit scores for different car companies to lease?

I am not sure of the minimum requirements for the purchase of a leased vehicle, but it looks like YMMV across the board.

I know someone whose CK scores said 491 TU and 496 EQ who just bought a Ford from the Ford dealership. I thought that was impossible at scores like that even if they are not to be trusted because they are CKs. Turns out Ford did not qualify them for a loan, but instead a company named Santander stepped in a gave them the money needed to finance. Experian sent a letter saying that the score was a 552. Though they are happy they got approved for a newer car, it came with a 72 month loan at 22% interest rate though.....OUCH!

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Frequent Contributor

Re: Minimum credit scores for different car companies to lease?

With a 650 Equifax Mortgage Score you will qualify for a good rate with DCU but probably not their best.

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Valued Member

Re: Minimum credit scores for different car companies to lease?

Thanks for the replies! Whats the best credit union online that can do a pre-approval with a soft pull? Do credit unions only finance or are there ones that lease? 

 

I really wanted to lease something new.

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Valued Contributor

Re: Minimum credit scores for different car companies to lease?

Don't forget that they will look at the complete file for approval. Credit score, income, DTI, Length of Credit history etc.

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