How hard is it to get approved for a lease? I have good credit, and got the dealer down to $34000 on a 2008 laramie 1500 QC 4x4 MSRP: $44000. My trade in is $9000. What credit score do you think i need to get approved for this lease?

Thanks

 

it all depends on a few things, have you been late with any of their (chrysler payments), how late were you on cc, mortgage payments and if your score is above 635 you should be good, higher is better but if they like what they see, it'll be ok. Good luck

 

With the way they're trying to sell vehicles I don't think you'll have a problem, even if you have shaky credit.

 

Just make sure they put $34000 as the price the truck is worth and not 44000. My buddy talked them down just like you and he never looked before he signed and they had the higher price. Just watch out for it...........

 

yeah, it's easy to overpay on the lease because you may not notice because the PMT is low. When I sold, I used to adverise payments at MSRP and people who came in on the ad hardly ever negotiated

 

why lease? just wondering. i hear a lease is the wrong way to go.

 

Especially when there is $9,000 of equity on the trade. I'd either use the $9k trade and buy the truck or keep my trade and lease the truck with nothing down.

 

The way I heard is this,and I have leased a vehicle before. A lease gives you a smaller payment while you drive it. If you are going to have it for 4 years or less and never really pay off the loan, then why hassle with down payments and possible high monthly payments? If you will always have a car payment, why not make it a low one. If you are going to keep it for more than 5 years and that will actually pay off the loan, then buy. It just depends on your situation. And how long you keep a vehicle.

 

with 9k trade equity you can always do a prepaid lease (Pay all payments up front) then have no payment.

 

With a 9k trade in, you'd be better off buying. Leases, to get the really good rates, usually want 750 or higher to get the best rate. But with a lease, once its up, do you buy, to try and keep you equity(some of it) or do you give back. Remember if you either buy or trade a lease off, they arent so harsh on its condition, but if you turn it in, be prepared to have it gone over with a fine toothed comb, and be charged for every little thing they can. I would take that 34k and buy it with the 9k equity. would be safer. its a truck so it may get some damage, all be it slight, scratch here or there, but if you turn it in, expect a big bill.