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Questions About Financing New Vehicles

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Comments

  • mc731mc731 Posts: 4

    Hello,

    Hoping for some help...

    I'm looking into leasing a new JGC...this one in particular: http://quirkchryslerjeep.com/new/Jeep/2014-Jeep-Grand+Cherokee-3f3646a00a0a00e07dd18651c9f8edfc.htm w/ a price quote via email of $35995. I live in Massachusetts.

    I have never leased a car so this is all pretty new to me. I did the Chrysler credit app and was approved for "up to" $49,900 in financing. Figured I would see what I was eligible for before dealing with a dealer. The credit score they pulled was 698 from Experian. What tier is that?

    Would I have a decent shot at leasing this vehicle? Looking to lease for 36/mo 10k miles. I have a trade w/ some equity some of which can be used to cover relevant fees. Want to cash out some equity if that is even a possibility. Looking to keep my payments at or less than $400 which may be unrealistic.

    Any advice and insight would be much appreciated. Would like to have some concrete knowledge before visiting a dealer.

  • kyfdxkyfdx Posts: 31,206

    @mc731 said:

    Hello,

    Hoping for some help...

    I'm looking into leasing a new JGC...this one in particular: http://quirkchryslerjeep.com/new/Jeep/2014-Jeep-Grand+Cherokee-3f3646a00a0a00e07dd18651c9f8edfc.htm w/ a price quote via email of $35995. I live in Massachusetts.

    I have never leased a car so this is all pretty new to me. I did the Chrysler credit app and was approved for "up to" $49,900 in financing. Figured I would see what I was eligible for before dealing with a dealer. The credit score they pulled was 698 from Experian. What tier is that?

    Would I have a decent shot at leasing this vehicle? Looking to lease for 36/mo 10k miles. I have a trade w/ some equity some of which can be used to cover relevant fees. Want to cash out some equity if that is even a possibility. Looking to keep my payments at or less than $400 which may be unrealistic.

    Any advice and insight would be much appreciated. Would like to have some concrete knowledge before visiting a dealer.

    A lot of it will depend on that score. If that's your FICO score, then you'll have no trouble qualifying for top tier lease rates. Some dealers use an "auto score" that is on a different scale (up to 900). If that's your "auto score", then yhou may be in a lower tier.

    You should cash out any equity on your trade-in, rather than put it down on a lease. But, I don't think you'll get under $400/mo. on a JGC.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

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