I think this is right. Have never seen an F1 deal. If that was an H1B, it would likely be bought. I don’t think a lender is buying student debt lol.
If you used the search function or even Google, you would’ve found real life data points: International (F1) Student Leasing BMW - #2 by Bostoncarconcierge
BTW one other thing to consider is that over the past several years, banks had the orange specter of Donny T potentially kicking out visa holders upon expiration, so they were far more stringent in their underwriting. That might be slightly different now. Not to be political, but policy does dictate loan underwriting.
There’s an Optional Practical Training that allows international students to work full-time post-graduation for up to 3 years (in STEM). Technically the visa is still F1 but in terms of income and eligibility period, should be the same as H1B without the 2nd extension.
Not sure if dealers would care too much about student visa as long as there’s a strong ability to repay loan without running away (ie credit score and long-term employment)
It’s different if you’re working FT under OPT after graduation but while you’re a FT student as an F1 you can’t honestly say you have the income to support an expensive lease.
Yes except H1B holder already has an employer but not F1 students that has not received an employment offer. But.large down payment might be the only recourse.
Maybe OP just need to wait a year. STEM grads from U of M should have good employment prospects. Good luck!
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