Exactly how good does your credit history have to be to lease a G? I am 22 years old and I have a credit score of 635. Is it harder to get approved to lease or to buy? Thanx.

 

From everything I've read concerning that, it is harder to lease then finance.

As for your credit score being enough, there's probably other variables plus most dealerships look at auto enhanced scores as well.

 

First of all what do you want to do.
Lease or buy?

No matter what your credit score you can buy any car with a resonable price. As far as lease, you would have a hard time finding a good price on a lease. Shop around and find out what you can get.
Since you know your credit score you can go around dealerships and demand a price. I went around and told other dealers that I got a price quote of $500.00 per month including tax and no payment or down. out the door.
I went to about three dealers and did exactly the same thing. Finally I got quoted $480.00 with no down, no first payment & nothing to pay for 48 months.

You have to shop around and find that hungry salesman that needs to sell something.

good luck.

 

I think I just decided to buy used. I dont like the idea of just renting a car for a long period of time. And since its easier to buy than lease, I am only 21 and your credit is only so good for being as young as I am.

 

Certified Pre-Owned is the best route should you find purchasing a used car to be the route you want to take. There isn't really any reason to lease a vehicle unless you are an independent contractor/buisness owner because then you can write a large portion if not all of your car/lease expenses off of your taxes as business expenses. This, of course, is why I decided to lease.

Also, I got my car at invoice when I leased it and I worked directly with the internet sales manager so getting a good deal is not as impossible as some of you make it sound . . .

 

Does anyone know anymore info in regards credit score to lease???? So will a 630 credit score be approved or???? thanx

 

To lease I believe your credit score has to be above 700, and you also have to have a credit history...21 I believe is still too young.

 

min 680 experian FICO min 5yr credit history

 

Where you guys get that from? there is no minium requirement to lease or get a car loan, just how high of interest rate/Money Factor you are willing to pay. You mean to tell me that if you walk into a dealership and tell them you are willing to pay 20% interest/MF they will trun you down even if you have bad bad credit history? I've known ppl who filed for bankruptcy are still able to lease a car.

There is no telling that if you had 600 score you will or you wont be approved for a lease and no one knows what score will you get what rate/MF, of course higher the score lower the rate/MF but not excatly at what percentage.

I got approved for 1.9% car loan in 99, back then my credit wasnt good at all, I got that just because dealer want to get rid of that car and only way to get monthly payment down to what I was looking for, they would have to get me a low low interest financing(on top of 500 below invoice), so you never know untill you give it a shot! but back then the scores wasnt used wide spreadly.

 

I dunno bro, about a year ago I was extremely close to trading in my g35 for an STI. My credit score was 735, and I was 21.

However, they said I didn't qualify to lease...only buy with a really high interest rate...because I didn't have enough credit history...

 

^^^ Exactly what happened to my sister on sunday she didn't qualify because her history was to light??? she's 21 and has lots of things on credit but?? sniff sniff..... they even pulled the car out and it was ready with only 6 miles! ip fully loaded! sniff sniff

 

im a finance manager for a chrysler dealership and no banks,cu or fiance company lease to customers with BK's

 

What is BK?

 

bankruptcy

 

lol.. thanks for the bold letters. I know finance managers pull in a lot but I've never figured out how one becomes a finance manager.. is it a corporate ladder or something you step into from college?