car lease, income, and credit score
March 16, 2008 10:42 PM Subscribe
How much is a high income factoredd into a car lease loan decision?
posted by dannon205 to Travel & Transportation (3 answers total) 1 user marked this as a favorite
I want to lease a new Honda Accord. My credit isn't that great due to some missed payments back in law school and about $80K in student loan debt. Other than that I only have $4K in a car debt, but no credit card debt. My score is about 630. I make $100K/yr w/ a discretionary bonus. I'd be willing to put the 20% down (which the down payment is capped at), plus the 1st months payment and security deposit.
Does anyone know well enough how car lease companies decide whether to loan money for a lease? I understand that generally you need a pretty high credit score, but how much do they factor in income?