New leaser low Credit score

[jeisensc]

@Jhonny_Montoya

I am barely new in this country I am trying to be familiar with the Credit score play, currently MY credit karma is around 650´s and experian 660´s

Welcome!

Credit Karma scores are not used by any lenders for lending decision, so consider them “for entertainment only”. Suggest you take some time reading through

The Credit Thread

Every month there is at least a handful of posts here that include erroneous perceptions, opinions or information about credit. This thread is intended to address questions and facilitate discussion about credit reporting, credit scoring, and any other general credit-related matters. All credit questions, and all informed opinions and answers, are welcome. To get the thread started, here are a couple of items that come up on LH from time to time. How does my income impact my credit score? I…

And: credit score is just the first of several things that might (and are usually, not always) checked to qualify for a lease:

• income
• debt to income ratio (DTI)
• auto loan/lease history
• bureau history (how long has your credit file existed)

To name a few. An 800 FICO v8 score doesn’t mean you get to lease an X7, but the credit worthiness part of the application won’t return a “No” and bomb out of the flowchart.

@Jhonny_Montoya

MY credit karma is around 650´s and experian 660´s

If these were FICO v8s from all 3 bureaus, I’d tell you that you’re pushing Tier 3 on some brands, and your bureau age and lack of auto history is going to give any credit analyst pause, irrespective of the current rate/lending environment.

Get your 3 bureau FICO scores and start monitoring them, go buy something (relatively) inexpensive and used that you can finance and pay-off in 1-2 years, then consider a lease. You probably aren’t a candidate right now.