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I'm weighing my options..I really don't want to lease but if it is easier to get approved and all I can get approved for I will do it...I just feel if you keep leasing you will alweays have a car payment ..verses buying the car and paying it off in 4 years and then driving it for another few more without a payment...but right now I'm just concerned about the approval process
thanks
I was approved for a new BMW lease on my own back in 2011 -- a year out of college -- with a less-than-desirable salary and a pretty crappy credit score (mid-600s I guess)... My lower score increased my money factor a bit (interest).
Not sure if this is a typical scenario though... I was pretty good buddies with the salesman, who I know pushed to help make it work.
Hi There,
Would you be able to tell me more about your acura leasing experience? I am looking to lease the TSX and have never leased before. My FICO is 773, I make about 50 k per year. I have very minimal debt now which I am happy about! I would consider myself financially stable. My issue is justifying rent. I don't pay the rent, my spouse covers this expense. I don't want to add him as an applicant because he is still cleaning up his credit and I don't think it would help the application. Do you know, or does anyone know how I can apply as an individual and still justify the rent?
Hope that makes some sense. Any info would be helpful. My biggest fear is walking into the dealership and getting excited than turned down.
Thanks!
@Anonymous wrote:Hi There,
Would you be able to tell me more about your acura leasing experience? I am looking to lease the TSX and have never leased before. My FICO is 773, I make about 50 k per year. I have very minimal debt now which I am happy about! I would consider myself financially stable. My issue is justifying rent. I don't pay the rent, my spouse covers this expense. I don't want to add him as an applicant because he is still cleaning up his credit and I don't think it would help the application. Do you know, or does anyone know how I can apply as an individual and still justify the rent?
Hope that makes some sense. Any info would be helpful. My biggest fear is walking into the dealership and getting excited than turned down.
Thanks!
Just say you don't pay rent. Are you on the lease as a financially responsible party?
You should be good to go, your income should be enough even with the rent.
Thanks for that. I am on the lease. But I have never paid towards rent. It's actually really high. So my income would basically support rent and nothing else if I did contribute. We will see what happens, I will try to speak to someone with the dealership. Maybe I am not the first lease applicant with this type of deal? Otherwise I will just need to be patient, save up and buy something with cash down the road.
Somebody else pays for rent at my house. The dealer didn't even ask about it. I just put down $0 for the rent amount. My income would also not support the rent where I live.
Well I just did the online pre-approval for acura and got approved. I have read that you shouldn't do that, but I felt like I was asking a lot of basic questions and should just bite the bullet. Does this mean I just go in and shop for the car now?
What were the terms of your pre-approval?
Acura is offering 0.9% for 36 months. That is a pretty good offer. Aim for that.