I’ll ask the question OP doesn’t want to ask: can he list his income from selling drugs if he hasn’t been paying tax on it?
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Trade and agriculture startup founder.
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This whole thread is useless. Be thruthfull, either you’ll get approved or you won’t.
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If you are actually getting income from rental property (regardless of location), shouldn’t that be pretty easy to prove?
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It would be, if it was legitimate income, shown on a US tax return (as a US citizen/national should declare their foreign income). I think we both know what the answer to that is lol.
Is the suggestion to get a crown Vic
Without tax returns they would stip for bank statements and possibly a lease or contact.
It’s been discussed before:
Hi guys,
So about 9 months ago a friend came to me, asking for help to secure a good lease deal on a CX-5. Frustratingly, she went to the dealer two days before we were supposed to go, and got screwed on the lease (it was something like $350/mo $3,500 down on a $29K Mazda).
Fast forward to last week, she hits a belt strap on the highway, causing the car to lose power. Turns out the car is totaled because it needs a new engine and with the coronavirus, it’ll take over 4 months to get.
To add i…
Hi all - I was recently laid off and my lease is up next month. I’ve already extended it by the 3 month maximum allowed by Ally Financial. I’m looking for any recommendations for the best personal loans or secured loans that don’t require income verification.
I’m sure I’ll have a job here soon, and I have enough in cash to buy the vehicle outright, but that would pretty much clean me out and I want to avoid that. Credit is also 750+. Thanks all!
Hello I am trying to get a lease for a recent BMW M3. I have no proof of income but I have sufficient money in my bank (more than enough to buy the car). My credit is only 700 because I am 19 and just started building credit.
I was thinking about some options…
pay for the entire lease up front + down payment +security
get a co signer
What do you guys suggest I do so I can get a lease? Thank you and please only helpful comments.
Hi all— any advice appreciated…
Since I’ve always been employed (W2) and excellent credit score (800+), I’ve had no problem leasing. Three months ago I quit to start my own business. Unfortunately due to economy/COVID/riots, I can’t launch my business to show any income for 2020.
I will need to lease a new vehicle next month. Is that even possible with no income? Are they going to ask me to verify income for 2020? (For what’s it’s worth, I can show healthy income and W2s for 2019). Will …
Which gets at the OP’s problems
Hey all, I’ve been learning a lot here and am very grateful for it, so thanks everyone. I had a question that hopefully I can get some insight on. Both my wife and I have zero auto history because we have never owned a car nor made a payment, which is crazy since I am 44 and she is 41.
We had a fleet vehicle for an organization that we worked for from 2001-2012 then in 2012 our nonprofit had a nice Lexus LS 430 donated to it that we currently drive, which is owned by the nonprofit.
We are want…
My wife is trying to get her first lease through a broker and having some issues.
Being told that they can’t do it all as a lease as it’s her first car loan. I’ve never had a car loan either. We both have high credit scores, and can definitely afford the lease. Though self employment and thin credit files are making things difficult. Basically Is there anything that’d work other than having a relative co-sign?
Questions:
One pay lease didn’t work due to some kind of residual factor limit thi…
Guys I just joined and can’t make my own post so im piggybacking here
I want to assume a lease, I can easily pay off the whole lease one time (9 months) but BMWFS denied my application.
Is it possible to try and assume this car lease through a third party? Like for example, go to a private dealership or even BMW themselves, give them the cash so they can assume the lease under their name and hand over the car to me for the next 9 months?
I really want this lease, money is not even an issue.
Hey, I lurked for a bit, created an account, and figured I’d ask my question.
I’m 19, living in South Florida, and getting my first car. I know how to drive, but only recently got my full driver’s license, mostly because I’ve started working and need a car ASAP. If it matters (in terms of incentives), I’m a full-time junior in college. Credit Karma usually places me in 720-750 range, but (a) it’s Credit Karma and (b) my credit is very young and has no auto history.
I’m open to buying a used ca…
All auto loan institutions including those that do leasing will look at your auto FICO scores.
Having no auto history will be viewed the same by lenders. Developing an auto loan history will definitely help you immensely with getting cleared for leasing.
You won’t know for sure if you’ll be approved unless you actually apply. Too many inquiries without making a purchase will reflect poorly what history you do have, however.
Didn’t you previously say that you made inquiries a few months ago tr…
that OP may be a decent credit risk for repayment, but not collateral risk
If FCA credit declined you, any dealer will too (they’ll likely reuse that prior application). US Bank or Ally might approve it, you’d have to apply to see.
Number of trade lines is only one aspect, DTI is another, age of trade lines is another.
The difference between financing and leasing is who carries the liability: if you finance, it’s all you (even if someone lends you their money). If you lease, the leasing company has it and expects the car returned on time in the agreed time. Your pri…
you may not have “income” but more than enough assets to qualify
income doesn’t have to be a job-job, people have alimony and trusts and distributions, but if that counts as your income it has to be consistent over a period of time. Gig work, OnlyFans Adult Entertainment may apply
credit app will ask about all sources of incomes
it’s possible you may not be stipped (I was on my first lease with A Tier credit, a six-figure income, and auto history), but
if you answered the questions about income untruthfully in attempt to get a lease, thar be fraud
So why not?
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Just get an ‘11 model and one of those banks to finance a 10+ vehicle. Pay the $2k off in a month and boom
Auto history
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Especially if you stay at the Holiday Inn or bank at SVB.
Correct, passive income is still income.
trism
May 13, 2023, 5:52am
57
Related question: I received an embarrassingly large bonus in 2018.
Can I count this as income on my credit application?
Yes, you should report the bonus as income on your credit application. Bonuses are usually considered taxable income and should be included in your total income for the year.
trism
May 13, 2023, 6:08am
60
So just put down what I made 5 years ago?
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you’re talking about then or now?
5 years ago, yes. Now, not so much unless they paid you i n c r e m e n t a l l y. . . .
I got it the first time.
system
July 12, 2023, 6:12am
65
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all of the angles are discussed in the Credit Thread if you haven’t read through it
