Leasing with New Job, Substantially Lower Income, yet Top Tier Credit

[Anonymous]

Sixteen years ago I graduated college with boatloads of debt and a FICO score in the 400s.

Today I earn 105K/yr and have a FICO of 808.  Later this month I'm leaving my high paying corporate job for a dream job and taking a 70% pay cut to do so.  I'm selling off an expensive home and moving into a condo I already own.  I have a leased gas guzzling Hyundai Genesis and want to turn it in to lease a hybrid or electric vehicle.  My Genesis lease does not terminate for another 6 months - well after I make the career change.  

Will I still be able to lease a 30k auto with Top Tier credit, but with only 30K/yr income next spring?   

[Anonymous]

Congrats on following your dream!

Can you pay the lease off early? Even if you can't you should be ok with good credit and the required down payment.

[Anonymous]

There's no incentive to pay the lease off early as there's an $800 early termination fee.  It's cheaper to simply park the car, make the remaining payments as normal and return the car in March.  

If I run out and lease a new car right  now, i have to ammortize the remaining payments on the other car over the next 6 months.  Every month I wait, the effective monthly payment is substantially lower (until the lease balance is zero), but that brings me back to my original question concerning ability to lease with low(er) income and high score.

[jason0618]

I'd do it now while you're still at your higher income job. With your score, I don't know if any lender that will verify income, but two loans with a 105k income is going to work out better than 2 on a $30k income.