My friend have a visa now, his willing to lease a car. Is that any possibility he can lease car in ny?
No. Unless someone cosigns his loan
Nope. Another important thing is to know when the visa expires. Many banks will not lease someone a car if the maturity date is after their visa expiration date. In addition, you need credit history to lease a car.
Have your friend apply for a 1 or 2 secured credit cards.
Even a one-pay lease requires meeting the lease credit requirements. Unfortunately not many options for your friend OP. Besides the suggestions here, your friend may want to do more research outside this forum. Good luck!
If your friend is from an EU country (for the moment that includes the UK), VW, Audi, Mercedes-Benz will use their European credit profile as part of their assessment.
I Just talked to a local dealer Today and get quote.
2020 Subaru WRX STI base
MSRP 37xxx.
2500 down payment, 515 monthly payment(tax include) 36/15K NYC area.
My friend wanna take this deal…
Why STI lease price is like sky high? Dealer even don’t wanna negotiating the price, there’s only few hundreds discount on STI…
No offense, your friend is an idiot. For 200 more a month you can finance this car new at .9% apr this month for north east, there are almost no reasons to lease this except tax ones and if those apply, I’ll shut up and if he doesn’t need a 2020, for the cost of this lease, he could buy a CPO Subaru WRX STI from 2019, similar msrp, base, manual, etc. Albeit it is in VA, etc. However, my point stands.
https://www.cars.com/vehicledetail/detail/809554746/overview/
Edit; I might have been harsh, but the dude needs to look into his options.
Does your friend wanna talk to other dealers?
OP - is this the same friend with no credit history? Oh boy…
Yep… his my cousin with student visa…
He’s looking for his second car with manual transmission.
I’m trying to pursue him to finance a used STI. Since he don’t qualify for lease or finance I will finance the car and add up his name under my insurance. Hopefully my cousin don’t drive like he stolen that car…
Keep all your related posts in the same topic.
Not sure why you’d co-sign a $35k loan or lease for a “friend” or a “cousin” or whatever he is. Think very hard about this if you plan to obtain any credit of your own for the next several years.
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your cousin is going to have a very very hard time leasing something without credit.
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as discussed many times, STIs/some WRX/Golf R/GTIs don’t lease well anyway. (I have leased a WRX, and a GTI with A Plan, and even with an 800 credit score and loan/lease history, there were better values to be had). The heart may want what it wants, the wallet has to pay for it.
Your friend needs to either get real about what they can MAYBE lease, or stop looking at leases. Plenty of great used VW and Subarus with a manual transmission. Get a used car loan, pay it off, then you have credit for the STI.
I think we’ve answered enough questions for you on behalf of a third-party. Your cousin is welcome to create an account and post their questions. If you want to post a complete deal sheet for review in the thread we can look at that, but those expectations are not even in our galaxy and need to come back to Earth.
I would also add that someone new to the US with no credit likely has very little driving history here. Thus, you may want to advise your cousin to look at insurance rates before selecting a car, as the difference could number over $100/mo depending where you are. In the UK, car insurance is largely included with the payment in most payment structures and is less dependent on the actual driver vs how it’s done here. Just something to keep in mind.
I bring this up because WRXs and GTIs have a buying demographic which tends toward high risk and this then creates a cost differential for those models vs the average (because statistically those vehicles will show higher loss & incident rates).
Family and money… Urgh… not an enviable situation. Good luck however it pans out!
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Your friend/cousin who now has a student visa will likely not have a legitimate income source to pay for the lease/financed car should you elect to go through with the idiotic choice to sign a finance/lease contract for him.
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If he has the funds readily available to make payments from family or whatever, have them go on the hook for the new loan.
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Have his $$ source pay for a reasonably decent car in cash. Otherwise, see #1.