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

[TheNoodleMan]

Everything you have posted in this thread leads anyone with a the slightest bit of sense to the conclusion that you have no idea what you are getting into.

Do yourself a favor and learn a bit about what you are getting ready to sink a large sum of money into.

[ZBTHorton]

OP,

I used to sell/lease high line(infiniti) cars when I was in college.

I don't think you have any idea what your doing. PM me if you need help.

[surfinillini]

just buy it

leasing is -EV

[ZBTHorton]

[ QUOTE ]
just buy it

leasing is -EV

[/ QUOTE ]\


It doesn't HAVE to be bad. But putting 7K down on a lease is basically an oxymoron unless your leasing a ferrari or something.

[cardcounter0]

[ QUOTE ]
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.

[/ QUOTE ]
Could you post the name of the school? I want to make sure I never hire a Business Grad from there.

[Jesse Kidd]

You get a 5 year lease on a $30,000 car, with an expected residual value of $15,000 after 5 years(making up numbers). Your payments are $15,000 spread over the 5 years, plus related interest and crap, right? So if he makes a larger downpayment, it just cuts his payments down correspondingly over the life of the lease, which isn't really a terrible thing. It's not the smartest decision, but it's not retarded.

I think buying is better, but if he has a lump sum, and is in a profession where income is sporadic, I can see the mental/emotional advantages of getting the payment down as low as possible.

[Osprey]

Guess what happens if you total the car in month 1 and you put $7000 down?

[Pog0]

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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.

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Maybe this is irrelivant or maybe it was an extreme exception, but a rental property wouldn't give me a 12-month lease even if I put 12 months down without proof of income.

[TheNoodleMan]

[ QUOTE ]
Guess what happens if you total the car in month 1 and you put $7000 down?

[/ QUOTE ]
Your insurance premiums go up.

[blackize]

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Maybe this is irrelivant or maybe it was an extreme exception, but a rental property wouldn't give me a 12-month lease even if I put 12 months down without proof of income.

[/ QUOTE ]

Really? Might be different for leasing an office or whatever, but for apartments and the like, the management company/landlord's eyes light up with glee when you offer to pay up front.