credit score for auto lease

Discussion in 'Credit Talk' started by Lisa, Jan 2, 2001.

  1. Lisa

    Lisa Guest

    What is an average score you need to have to lease an auto?
  2. anon

    anon Guest

    RE: credit score for auto leas

    I just leased an rx300 with Toyota Credit. Credit Score = 735
  3. Kevin Yaeg

    Kevin Yaeg Guest

    RE: credit score for auto leas

    If you have at least a 680 score you can be approved for any auto loan or lease.
  4. J. Edgar

    J. Edgar Well-Known Member

    RE: credit score for auto leas

    You probably need at least a 680 or a 700 to get the best terms on an auto loan or lease.

    If your score is lower, perhaps down to 620, you can still get a lease, but you will not be offered the best terms, and will perhaps have to make a capital cost reduction payment (downpayment) on the lease.

    With a poorer credit score, it's probably easier to get an auto loan (at a higher interest rate) than a lease. Most leasing companies, other than the 'captive' in-house financing arms of the manufacturers (like GMAC and Ford Motor Credit) don't want to deal with higher credit risk customers.

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