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I plan to lease the ML350 2007 (Mercedes Benz). Do you think I would qualify with a credit score of 707? My annual income is $100,000 and although I have a number open account and balances I have a long credit history and no late payments.

Answers from the Automotive Experts

Rebecca Chernek, President and Founder at Chernek Consulting Inc. Hi Karen- You should have little problem leasing a vehicle with a credit score of 707 and a annual income of $100,000.00. Some lease companies will not extend credit if you have more than two open auto accounts and will also take into consideration "debt to income" Leasing is generally a safe bet and the risk is limited so I can't imagine that you would have any trouble. Make sure the sales person discloses all the pertinent buying figures- you are entitled to know what you are paying for the vehicle- just as if you were paying cash. Good Luck- let me know if you have additional questions.

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