I think the bottom line is that a lender is not going to loan that kind of money (even on a one pay lease) to someone with no previous auto history. You’re going to have to start off with something less expensive.
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This makes a big difference.
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I need to buy a mini van or sprinter van for my business. It’d be cheaper like $25-$30k I was thinking about financing it for 12 months or the shortest amount of time and just paying it off in a month or two. I think that would help a ton but not sure if I would be able to go from a 25k-30k car loan to a car worth 70k. But i would also keep the van.
You need to expand your credit profile (which takes time) or get a qualified co-signer.
As I exampled recently in another very similar thread on this topic:
Credit is used an indicator of whether or not you are someone that can be trusted with collateral, not just if you can literally afford something.
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12 month is probably too short for a bank to give you and would be a high monthly payment from an approval standpoint for someone with thin credit
You would probably apply for a 60 or 72 month loan for approval and you can pay it off well before the full term. Making only 1 or 2 payments is not a great plan for building credit, the whole point is to have a history of making payments on time, you need to make several payments
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^^ This. Since you are paying all up front, co signer really doesn’t have anything to lose unless you completely mess up the car at return lol
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I get it that you don’t want to carry a credit card balance and pay interest, but you need to spread out your payments and not always pay off your balance in full. Lenders need to see a consistent ability to make monthly payments over time. How many credit cards do you currenttly own? How long ago did you open your first credit card account?
DISCLAIMER: I am not a financial advisor or credit expert.
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- 5 personal 1 business. And 3 years and 1 month. I shouldn’t have let my first card expire it was opened 6 years ago.
I thought about that but both my parents aren’t fans of electric cars unfortunately.
They won’t co-sign because it’s electric?
This statement doesn’t track.
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I don’t see the difference regarding a credit card, he is showing consistent ability to pay in full on time, but frankly, credit cards don’t matter for an auto approval, especially if they’re business cards, they may not even be on his personal credit report.
What? lol
That’s like saying I won’t sign for you cause you support Donald trump
I bet you stayed at a Holiday Inn Express though
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I am trying to stay on topic here. 
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It isn’t necessary to carry a balance and string out payments to show payment history on a revolving (credit card) account.
In fact there is no benefit to your credit or your scores for doing so.
It just costs you money, so cards should be paid in full every month. 
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That’s why I am not a finance expert, but I do try to stay on top of my credit card balances, credit score, etc.
I always tell folks not to close any unused credit accounts, even if they have not been used in a while.
However, I did close my JC Penney store account years ago.
Also remember the FICO Auto score is different than the generic FICO. Credit cards and personal loans don’t mean as much as the proven ability to manage a car loan or lease.
Jumping straight into a $100k collateral Mercedes Jelly Bean is probably out of bounds for most lending models. Even if the borrower puts a $20k one pay to cover the depreciation and rent factor.
Trust me, I totally get it with regards to generic FICO and FICO auto score.
Why not try to lease a loaded Ioniq 5 or 6 (Limited?) instead? Some sweet deals are still available on those, esp 5 including 13 and 24 months.
That makes no sense! You are not getting them a car, just need their financial backing.
Because a Mercedes is more of a flex at 23 vs a Hyundai. This country loves being broke and flexing. Just look at our economy lol.
Also,
I got my AMG to make noises when backing up. MBUX got updated and now I can hear it lol
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