@Anonymous wrote:Hi.
I read somewhat confusing leasing auto.
But let's go with my case... I have a car. Wife takes my car for work while I take bus and train to/from work. Granted, driving takes me 15 minutes (up to 20 if heavy traffic). Bus/train takes me always over 1 hour each way plus nearly a mile of walking from bus/train stops. I have knee pain if I keep walking but it is bearable for now.
Wife wants to lease (she wants to have different vehicles every 3 years and not dealing with anything else).
Wife works part time at State Agency. I work full time at a federal agency, obviously I make 70k+ a year. She makes maybe 10-20K a year plus she has disability payment (approx 12K a year or so).
Wife has 800+ FICO scores
Mine (at last FICO check) 720's to 745's, mind you, I filed for BK7 more than 5 years ago. Paying everything on time, both always PIF on our credit cards. We both have mortgage.
Now, she really wants 2020 Toyota RAV4 Hybrid. She can't get in and out with ease with my Prius C (due to low level entry/exit).
I checked Toyota website (not the dealership websites). Current offer good till July 6th that says 2020 Toyota RAV4 Hybrid LE, 3 year lease, 36K miles, $279/month (plus tax) and $1,999 due at signing. (I'm not sure if it's not included title, registration and sales taxes?)
1st question, CAN she be the only one applying for Toyota Financial Service (offer required that she applies with TFS). can she also use my income in addition to hers to qualify?
or
2nd question, can with BOTH apply despite the fact I have BK7 on file and would TFS approve it?
3rd question, is GAP included in leasing or is it separate?
I just wanted to cover everything before making decision to go ahead with it. Many thanks!
She would get approved no problem and you both would get approved no problem. Again as previous poster stated they do not provide GAP and for me thats something huge. I would have her look into a Honda CR-V or even the HR-V.
