Went into Swapalease and found a 2018 Mercedes C43 AMG @ approx $580/mo.
Applied with my credit of around 730-740 and got declined.
My previous lease is expiring next month and I made all my payments on time, and I have close to zero debt whatsoever.
I don’t understand why I got declined, and I’m about to miss out on a very good deal…
Why not call MBFS and ask them for the reason?
Will call them later this afternoon. Will it actually change anything? I’m quite disappointed. Not even sure what car I can target now…
I wouldn’t be too concerned, getting declined for that deal doesn’t mean much, just means for whatever reason you didn’t qualify for that particular deal. With that credit score, no debt and on time payments, as long as you have decent income you should be able to lease whatever you want
This isn’t a credit forum, there are quite a few of those. But credit score is not everything. What’s your DTI, revolving utilization, on time payment history, and number of recent hard pulls?
Yes, for sure call MBFS and get their explanation. This is a bit of a statement of the obvious, but by chance do you have any of your credit files with any of the three agencies locked and forgot to unfreeze them? I keep all of mine licked as a matter of course and only open them when necessary.
Also, don’t fret losing this particular one too much. For that car the payment is pretty good (prob ~1% of MSRP per mo), but unless you are specifically set on that model, deals better than that can be found for comparable cars.
I understand credit isn’t everything, and that this isn’t a credit forum. It seemed like a great deal, and I have zero debt, so DTI is close to none, perfect payment history, and just one hard pull in the last 3mo due to a new credit card.
I’m just frustrated as I had set my sights in that vehicle, but now I feel like I cant get anything from Mercedes itself.
Was trying to get a comparable car for around $600MP, have been looking at a few S3s and S4 but I’m still negotiating on those.
It’s my understanding lease transfers are more stringent than walking into your local MB store and have an F+I push you through vs a computer when applying online.
MB may put someone on your file to reconsider manually once you call.
730-740 is not a great score, probably borderline. You should have better luck with cheaper cars and/or different brands.
Its not great, no. But I didn’t think it’ll get declined. It was a common consensus amongst people with experience in the field that I should be approved.
Lets see what car I should aim for now 
(and hope its not a boring one)
Just to add based upon my own experiences, MBFS is very stringent about the credit profiles for people taking over a lease. They generally want the same, if not better, credit profiles and income than the existing lessee.
These transfers are a courtesy with basically no benefit to MBFS, so they are not inclined to do anything that would expose them to more risk without any reward. When they sell a new car they are willing to be more flexible because they are moving another new unit.
I guess scores like this get more scrutiny plus you also opened a new credit 3 mo ago.
I completely agree.
Hope they are able to reconsider, as @mp11477 mentioned.
My expectations are quite low, nevertheless.
A lot of factors count into approve/decline a loan. Most important is income to payment around 10-15% of what they want, also most likely is your existing current lease still in the credit bureau as in active, this is count towards a second car loan. Call them, they will be able to explain the reason for decline.
They make some good dough on the transfer fees though 
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I’d say it is likely because you already have a lease. They don’t know it is ending next month.
Yes its almost $600! Not like I have seen all of the lease transfer fees out there, but this one seems to be on the higher end. BMW and Audi are either $400 or below, hehe