Auto Lease Needed!

[Anonymous]

My wife and I are looking at looking to lease a Jeep Wrangler Rubicon - Our lease is up on my 2014 Denali truck in December so we are thinking about end of October.  This will be a $120/ month savings. We are at about 85% in card utilization but that will drop to 60% by the end of September.  Our Fico 8 Auto score from myFICO are 676, 642, 670 (hers) and 684, 616, 698 (mine). FICO 8 Similator says high  low 700s by the time we pay down some debt, so I'm assuming 715-720 for Auto score by September.  Our Debt to Income is with current cars, credit card payments house etc is 33% What are the odds of 1) Even getting a lease for a Jeep ($40k MSRP) 2) Getting a decent Tier/ APR 3) Using UsBank (who our Denali Lease is through) or go through Chrysler? 

[Anonymous]

Going from 85% utilization to 60% utilization only crosses 1 threshold as far as we can tell, which to mean wouldn't be enough to put your scores above the 700 mark generally.  If you could get your utilization to 49% or less, perhaps low 700's would be more realistic.  The difference between low 700's and mid-high 600's likely wouldn't mean the difference between a loan approval or denial, but no doubt it could mean a difference in interest rate.  Simulators can never be trusted, as they don't look at nearly enough profile data to result in accurate predictions.

[Anonymous]

The best lease programs are with Ally on Jeep Wranglers...You can go through US Bank or Chrysler Capital but the residuals aren't as strong with those lenders.  I leased a 2017 Jeep Wrangler last month through Ally and the residual was 75% for 36 months @ 15,000 miles per year.  The Rubicon and the Sahara don't have nearly as strong of a residual as the Sport does...anywhere from 62% - 68% depending on model and if it's a 4 door Unlimited.  Ally is probably the best lender for you based on your scores because both S and A Tier qualify for their best money factor.  If you decide to go through Chrysler Capital make sure to remember that they pull Experian when qualifying a customer but will pull Equifax and Experian if the finance manager makes a phone call and asks them to.  Depending on where you live in the country if you would like to contact me I can put you in touch with a dealership that will give you a great deal.  I'm contracted with many dealerships across the country and can get you a great deal on a Wrangler!