About to lease a new car, likelihood of me getting a loan?
 

I'm interested in leasing a 2007 BMW 328xi. I'm prepared to give them $7k up front, and get a loan for the remainder. I have more than the amount of the lease in cash presently, but can't pay it in full due to bankroll stipulations. I've been making $5-6k a month at about 15 hours a week over a relatively large sample through poker, and project this figure to increase as I move up in stakes shortly, and increase the time I spend playing. This is my only source of income and I don't know if these people will consider a pokertracker database as significant proof of it. I'm graduating with a major in Business Administration and a minor in Finance from a relatively unheard of school in May but I don't know if that will have an impact on a loan decision. I have no other obligations and my credit history is non existent. My father will cosign if necessary.

Will I be able to get this loan on my own? Also, if anyone else has any suggestions on a car, feel free to post them with pics preferably.

Re: About to lease a new car, likelihood of me getting a loan?
 

lol @ pokertracker db as proof of financials to a bank.

Re: About to lease a new car, likelihood of me getting a loan?
 

If you have tax statements they will probably hook you up with a sweet anal rape style finance package.

Re: About to lease a new car, likelihood of me getting a loan?
 

I highly doubt you'll be able to get the loan yourself unless if you can provide 2 years worth of tax returns with enough income plus an excellent credit score. It sounds like you dont have this.

With that said, you should be able to easily obtain the loan if you get a co-signer such as a parent who has a decent income and good credit score.

Re: About to lease a new car, likelihood of me getting a loan?
 

"I'm graduating with a major in Business Administration and a minor in Finance from a relatively unheard of school in May".......

"I don't know if these people will consider a pokertracker database as significant proof of it."

Wow.

Re: About to lease a new car, likelihood of me getting a loan?
 

[ QUOTE ]
"I'm graduating with a major in Business Administration and a minor in Finance from a relatively unheard of school in May".......

"I don't know if these people will consider a pokertracker database as significant proof of it."

Wow.

[/ QUOTE ]

Out of context much?

Re: About to lease a new car, likelihood of me getting a loan?
 

if your dad will cosign and he's not a deadbeat that's really all you need. the dumbest part of this thread isn't your question (although it is a dumb one for someone majoring in finance, fk i am a [censored] social worker and i knew the answer) but that you want to lease an 07 BMW while you're still an undergrad with poker as your only income. if you're lucky enough to have a big lump sum and no debt to speak of, invest it in something more useful than a car that probably won't get you laid as much as you hope it will.

Re: About to lease a new car, likelihood of me getting a loan?
 

You're going to put $7K down on a leased vehicle? Isn't this the last thing you want to do- there is some fancy stuff you can do with extra security deposits or something, but putting a big downpayment down on a lease is terrible.

Re: About to lease a new car, likelihood of me getting a loan?
 

[ QUOTE ]
I highly doubt you'll be able to get the loan yourself unless if you can provide 2 years worth of tax returns with enough income plus an excellent credit score. It sounds like you dont have this.

With that said, you should be able to easily obtain the loan if you get a co-signer such as a parent who has a decent income and good credit score.

[/ QUOTE ]

Ive gotten two loans without pay stubs or tax returns for vehicles (no co signer). Not a BMW though.

05 Dodge Ram (through the Chopper) and a 07 Civic Si. My interest rate for the Civic is like 7.4%. I put 5K down on each. Not sure if leasing makes any kind of difference.

Re: About to lease a new car, likelihood of me getting a loan?
 

If your putting 7K down on a lease, you should get approved by default.

Also, putting 7K down on a lease seems like a really awful idea.