Possible to Lease 3 Cars - 60k per year?

[kwinks]

So here it goes,

I am currently leasing a 2016 Q5. I need 2 more cars (don't ask)

Husband and I are looking at Toyota RAV4 and Camry SE, but I am curious to see what your thoughts on the matter. My husband has zero credit history, I am working to add him as AU on my cards but that could time some time to reflect on his credit report.  I have leased 2 cars in my name before (Toyota Venza/Audi A4) but don't know the possiblities of a 3rd. Would Toyota consider leasing it to him and adding me as a co-signer?

All nice comments welcomed 

[Appleman]

If you have the income to support three leases, it should not be a problem.

Each lease will be considered individually and you will basically be applying for 2 additional leases.

Having a good history of auto payments should help and the finance company will look at credit score, DTI ratio, income, payment history etc. Basically the total profile.

If $60,000 is your annual income, that would put you at $5,000 monthly income. X.36 (36% DTI ratio) $5,000 X .36 = $1,800 in monthly payments

So your current level of income will support $1,800 of payments (housing, credit card min. pay, auto loans/leases, basically things showing up on credit reports) and remain within a reasonable 36% DTI ratio.

Disclosure: This is my opion/educated guess on what a finance company will likely approve. Remember to negotiate the terms of your lease.

[Anonymous]

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@kwinks wrote:

So here it goes,

I am currently leasing a 2016 Q5. I need 2 more cars (don't ask)

Husband and I are looking at Toyota RAV4 and Camry SE, but I am curious to see what your thoughts on the matter. My husband has zero credit history, I am working to add him as AU on my cards but that could time some time to reflect on his credit report.  I have leased 2 cars in my name before (Toyota Venza/Audi A4) but don't know the possiblities of a 3rd. Would Toyota consider leasing it to him and adding me as a co-signer?

All nice comments welcomed 

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Missing most important info. Your credit score?? If ur 620 score no if ur 740+ yes. I'm financing 3 cars and a pair of jet ski with sub 700 score. Was lingering at 685-698 now I'm at 620 ish. Just got notify from myfico and score is at 640-660 lol as these new accounts ages my score will keep going up but mine all purchases nothing lease. Loan amount is 96k 59k 38.5k and 38.5k

[settleordelete]

I think its very possible because depending on the residuals, you're only financing or paying for a small portion of the vehicles. A friend of mine has his lease payment plus he's a co-signer on his 2 daughters car leases. That's 3 car payments in his name.

IMO, Toyota financial is one of the easiest to deal with especially if you have already established a good to excellent payment history with them.

[Anonymous]

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@kwinks wrote:

So here it goes,

I am currently leasing a 2016 Q5. I need 2 more cars (don't ask)

Husband and I are looking at Toyota RAV4 and Camry SE, but I am curious to see what your thoughts on the matter. My husband has zero credit history, I am working to add him as AU on my cards but that could time some time to reflect on his credit report.  I have leased 2 cars in my name before (Toyota Venza/Audi A4) but don't know the possiblities of a 3rd. Would Toyota consider leasing it to him and adding me as a co-signer?

All nice comments welcomed 

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My curiosity got the best of me and I have to askthus, why - See blue.

What you want is possible.  Tell us a bit about your credit profile and your DTI currently for best responses.

[kwinks]

Credit score is currently sitting around 700, DTI is around 55%. We are looking to buy cars in August so I have time to pay off some CCs. I'm guessing I'll have DTI of about 26%

I never once missed a payment for either my A4 or Venza. It really would be ideal for us if I could lease the RAV4 and hubby lease the Camry and add me as co-signer if needed. Q5 payment is 550 per month, not the best deal but I gave no down payment.

We are thinking about putting 1-2k for each of the Toyotas if that would help get the leases