Immigration status and new lease

[Anonymous]

I'm currently in the US on a work visa that I have to get renewed every couple years. I've been doing the same thing for about 10 years. I've tried leasing with Honda before and although I was approved based on credit worthiness, Honda informed me that my visa would have to cover the life of the lease. Which brings me to the question, how do they have access to that type of information? Also, does anyone know of any car companies that use third party banks to finance their leases? I believe that would help with my predicament.

[SamsungHDTV]

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@Anonymous wrote:

I'm currently in the US on a work visa that I have to get renewed every couple years. I've been doing the same thing for about 10 years. I've tried leasing with Honda before and although I was approved based on credit worthiness, Honda informed me that my visa would have to cover the life of the lease. Which brings me to the question, how do they have access to that type of information? Also, does anyone know of any car companies that use third party banks to finance their leases? I believe that would help with my predicament.

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Any lender would ask for a copy of your visa and look for the expiration date. One of my clients is in the same situation to where he cannot finance a vehicle based on his visa expiration date even though he is going to renew. From the lender's view, how would they really know he is going to renew? Not worth the risk.

I haven't heard of third party banks financing a lease, but I imagine you would be stuck in the same boat.

[Anonymous]

Giacomo88,

I'm on a work visa and as you I have to renew it every two years. I didn't look into leasing but DCU approved me for a $22,500 car loan at 8.24% and Wells Fargo Dealers for $25,000 at 9% 72 months. I ended up going with Wells Fargo to not make down payment. I plan to refinance in a few months once I have a good car payment history.

So if you would like to purchase a car instead you could.

[Anonymous]

Thanks for the suggestion Vic90, but I'm looking to have smaller payments, and financing just won't get me there unfortunately. I know that Toyota is one company that does not check your immigration status before granting you a lease, but I don't know of any others, and I don't want a Toyota lol.

[Anonymous]

That's not necessarily true.

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@SamsungHDTV wrote:

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@Anonymous wrote:

I'm currently in the US on a work visa that I have to get renewed every couple years. I've been doing the same thing for about 10 years. I've tried leasing with Honda before and although I was approved based on credit worthiness, Honda informed me that my visa would have to cover the life of the lease. Which brings me to the question, how do they have access to that type of information? Also, does anyone know of any car companies that use third party banks to finance their leases? I believe that would help with my predicament.

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Any lender would ask for a copy of your visa and look for the expiration date. One of my clients is in the same situation to where he cannot finance a vehicle based on his visa expiration date even though he is going to renew. From the lender's view, how would they really know he is going to renew? Not worth the risk.

I haven't heard of third party banks financing a lease, but I imagine you would be stuck in the same boat.

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I've been able to finance two cars before, and I also know Toyota will let you lease a car without first checking your immigration status. Unfortunately for me, the companies I want to lease from do check as far as I know.

[DantGwyrdd]

Hyundai as well from my experience (unless it's dealer-specific and not HMF-specific).