Chances of getting top tier credit rates?

My credit score is currently ~750. I struggled to get a Jeep lease for my sister last month (~ Jan 20) due to not having any auto history on my credit report. So I wasn’t able to get financed through US Bank but ended up getting an OK deal on a Compass through Ally. My current lease is under my dads name and ends March 10th. I need to get a new lease by then. What are the chances I get approved now since its only been a month since my last auto inquiry? Am I in better or worse overall shape? I’ve already made the first (well, second) payment on the Compass

Try some different brands, with a score like that you should be able to get a VW or GM product. I would not mention anything about having issues getting approved prior. You need to act like this isn’t an issue otherwise dealers will take advantage of you and mark up the rate even though you’ll probably qualify for Tier 1 with allot makes. Figure out what you want and work a deal online, then the last step would be submitting a credit app.

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I would be extremely cautious about trying to sign another lease after struggling to get a lease approved last month. I’ve leased 4 vehicles in 2 years and you need to be careful with timing and the impact it takes on your credit. The Jeep lease you took will take a few months of on-time payments for credit companies to improve your rating, in the short term it will make getting another lease more difficult.

The biggest issue is a credit denial occuring which might mean months of credit issues. Credit is really complicated though but the general advice is check your credit rating with Experian or similar, fix any issues, make sure your credit card balances are low, etc.

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Yeah, that’s what I’ve been doing. Lowered my CC debt as much as I can (12% utilization). The only other complaints are “There’s a limited number of accounts on your report” and "Age of Credit History (1 yr 7 months).

Obviously, opening more credit lines before I’m trying to get a car doesn’t sound like a good idea.

I guess we’ll just have to see.

It might be possible to extend your current lease for 3-6 months which would probably give the Jeep lease enough time to bump up your credit. A lot of brands allow lease extensions so that might help you space the credit applications out.

I moved to the US 2 years ago and have been through a similar juggling process, trying to balance debt, establishing credit history. Sounds like you know what you’re doing.

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