define "well qualified" in relation to leasing

[BWooden]

I constantly see cars being advertised for lease at really low monthly payments to the "well qualified" customers. I know that is based on credit. What is the target FICO number to be considered WQ so you can get those types of payments?

 

 

Is that some sort of bogus advertising dealerships do where they put attractive offers out there like that knowing that the majority of the population won't be able to qualify for it?

 

Just curious more than anything..

[TomfromNE]

I;ve always taken it to mean:

 

and I quote

 

 

"Fat chance you;ll ever get this deal Tom!!!! AHAHAHAHAHAHAHAAAAAAAA"

[hegemony]

FICO >=740

 

and

 

leasing is not a good financial move for 99% of the people.

[MarvBear]

An auto enhanced fico score of > 740 AND for those really low payments you read about, best to read the fine print.

 

They are probably ultra low mileage leases with a substantial chunk of change as down payment in addition to the upfront fees.