does capital one do auto leases? My brother has a pre-approval letter from them for 50k. But how do leases work with them?
Also US bank auto loans pre-approval, do they hard pull for pre-approval?
My brother is trying to lease Tacoma. He was denied through TFS. The reason the finance manager said was that “you just leased a car two months ago” - this’ll be his second lease.
Capital One does not offer leasing. Pre-approvals that come in the mail are (as far as I know) always soft-pulls.
Did your brother just lease another car 2 months ago? A lot of lenders will shy away from applicants who have multiple open autos on their credit file. Usually, the person submitting the application to the lender can put in notes to explain that (like “customer is currently leasing a car for another family member”).
I guess he should maybe wait 6 months
Where does he live? TFS doesn’t have the best lease payments on Tacomas so a non-captive lender would be best and most likely can approve your brother.
Iowa. He’s thinking to go through Cap1 or US bank. I’d tell him to wait because TFS denied him because he just recently leased a car - 2 months ago.
He can’t go through Cap 1 if he wants a lease. Period.
If he can do that, why bother finding an alternate lender?
Can’t go around convincing other people to do the right thing.
Don’t bother advising people who are not interested
Been there done that.