<prompt> Human: I attempted to get a lease two days ago on a new Honda. Ive been building up my credit for the past year to 640, I have a good job that Ive been employed with for two years at 75k, and my car is about to shit the bed. I was pre-approved with my credit, got my quote, and paid upfront for my registrationplatesdealer fees the same day. I went to pick up the car today and was told that my credit ended up being declined, and they were speaking to the bank on how to proceed. They asked if someone would co-sign the loan for me, which I dont have anyone willing in my family and I wouldnt allow friends to co-sign. I asked if I could put a deposit down, and increase my monthly payments in order to be approved. I also provided proof of employment, pay stubs, W2s, and a letter of my current pay rate. They are going to get back to me tomorrow, however I am curious to have a better understanding as to why I was declined in the first place.My credit has not gone down in the past year, I recently graduated from college and have made all of my student loan payments on time. I have two credit cards, one is paid off completely and one I make all my monthly payments on time and over the minimum. I know 640 isnt a stellar number when considering credit but I didnt think I would be completely shot down. All in all I feel a little discouraged as I am in desperate need of a car, and unsure of my changes of being approved for a lease. If I were to be declined for the lease in the end, would it be better to finance a car? What is the best credit score to have to be approved for a lease?  <response>: A 640 score is really low for auto loan approval. Did your dealer give you this score, or did you get it online somewhere?Leases need a higher credit score versus buying outright. Youd get approved for a loan to buy at 640, with at least 5-10 down payment.A score in the mid-600s usually means there is derogatory negative information on your credit report, or a credit card with an extremely high utilization balance versus limit. 