I appreciate your help. I’m new to this forum and I have some questions about leasing a car. I’m currently a master’s student in Las Vegas, Nevada.
I have an F1 visa with an SSN and I will graduate next year. After that, I have a year of OPT and two more years of STEM extension, which makes it a total of 3.5 more years. I wonder if I can lease a car (Honda/Toyota/Chevy) with my F1 visa status?
I don’t have a co-signer, but I have a good credit score.
my F1 visa will end in 2024, and with extensions, it would be in 2028. I am working in university and industry now and I plan to stay here.
I’m interested in the Honda Civic, Toyota Camry, and Chevy Equinox, but I’m open to other options with the same price range.
I’m not sure whether I have to have a very high down pay or a very high monthly pay?
If you have any experience or knowledge about this, could you please share some resources or advice?
Do your current documents suggest you have 3.5 years more on the visa? Or is it 1-2 with opportunity to extend. That’s materially different to a captive bank.
Also frankly you ought not to chose a particularly car and then decide to lease it. Better to choose cars that lease well. Or just purchase/finance the car you want if it doesn’t lease well.
I am also on F1 visa and currently on STEM OPT. From my several experiences on leasing different brands, I don’t think the car manufacturer or the bank really care what is your legal status in America (whether you are PR, Citizen or on Visa). When you apply for loan or leases, just fill your name, SSN and employee information and if you have a good credit score, you should get approved very easily.
This is the answer from what I have seen, if you have a US DL and an SSN, you’re as eligible for a lease as your credit score and income will allow.
Don’t mention your immigration status to the dealership unless they ask, no need to muddy the waters with people who might not have experience with the situation.
Before you lease anything, think carefully about your contingencies if your temporary status is cut short. Many lenders don’t allow transfers. It’ll be a painful lease exit in some cases, if you have to leave the country for whatever reason.
I lease a MB after I got my job on OPT
I have 2 years of credit history before that.
Just show them the offer letter and you are good to go.
Note: some bs dealer (some BMW dealer in Seattle area) will tell you it’s not doable, just walk away.
Successful DP from my friends at least have MB, BMW, Audi, Lexus etc.
Dude I bought my house in conventional loan in F1 visa, you are good.
They only care about your credit history.
Leased MB, Porsche, Nissan and financed with Chase on one of my purchase also. If you go to chase and tell them that you are on F1, they will tell you no but if you tell them nothing but just your income, SSN and personal info, they treat you no difference than other American. As long as you have good credit, they would not bother with your status.
I had a colleague on H1B, probably on the same boat as you, who leased X7 for 3 years. i don’t think he got much of a discount, per se,but was able to lease. good luck.
There are thousands of “student” working in the industry, doing full time job.
ok, thanksss