I am a graduate student, and I will have graduated in about 3-4 years. So I think a 3 year lease, 6-9 month from now, will make sense the most for my case. If I get a car loan, and if it take me more than a few months to get a job after I graduate then I might not be able to make car payment during that transition period.
Vehicle: 2015 Honda Accord/Toyota Camry Hybrid MSRP: $23-25k
Income: $25k/year. I know this is on the low side. I think I can also add a $38k/year schorlarship as part of my income. This is basically my tuition waiver, but on 1098-T it shows as a scholarship.
Rent: $640/month
Credit score: Maybe 720+ in 6+ months.
Credit card Ultilization Ratio: 10-15% of $31k, 8 accounts. Oldest: 6 year. Newest: Recently Open. AAoA: 2 year.
Student loan: $25k, no payment until I graduate.
Other loan: $3k, consumer finance, $197/month payment. (Maybe I can transfer the balance to my Discover it CC 0%APR to reduce DTI)
Derogatory: None
Previous car loan: None
Cosigner: Probably none.
Cash available for down payment: $3-4k. I know down payment is really silly for a lease. But my SO and friends/relatives offer to help me with a few thousand dollars in down payment if that will help.
So what do you think about my chance of getting a car lease with competetive rates? Is there anything I can do to improve the odds?
