Bank Denied to lease to me. What can I do now?

mathagh

Subaru Motor Finance (Chase Bank) denied to lease a Subaru to me because I am not a permanent US resident. I am living in here for 4 years on student visa and my status will expire more than 3 years. I am working for a private company with a reasonable income at the same time. However, bank denied to lease me the vehicle for 36 months. My credit score is 781.

Not sure what can I do now ? I am hoping other bank and vehicle makes does not have this restriction. I like to lease a Toyota, infiniti or VW if there is really no way to go forward with Subaru.

I don't want to hurt my credit rating any more. I think if I shop for a load in a short period of the time, all hard inquiries in my credit records will be considered as 1 inquiry. I was wondering if the same logic applies to car lease instead of car loan ?

qbrozen

The inquiries won't bother your score, but I do wonder if anyone will give you a loan/lease if you don't have a permanent US address. I would not be surprised if they won't.

mathagh

qbrozen said:

The inquiries won't bother your score, but I do wonder if anyone will give you a loan/lease if you don't have a permanent US address. I would not be surprised if they won't.

I do have a permanent address. but I don't have Green Card or Permanent US residency right now. How long I can shop for cars without bothering my score too much ?

kyfdx

mathagh said:

qbrozen said:

The inquiries won't bother your score, but I do wonder if anyone will give you a loan/lease if you don't have a permanent US address. I would not be surprised if they won't.

I do have a permanent address. but I don't have Green Card or Permanent US residency right now. How long I can shop for cars without bothering my score too much ?

I've always heard that multiple inquiries over a one month period will count as just one inquiry.. though, I have no experience with your issue.

Mr_Shiftright

Try another bank. As long as your visa lasts longer than the lease terms, everything I've read said it is possible--but you may have to shop around. Probably the issue here is that your credit history isn't very long, even if it's a good number. Auto company financing arms are probably not the most lenient.

steine13

You can't lease if you're not a permanent resident. I don't have a definitive source for this information, but I've heard it more than once, and the question comes up routinely where I work due to all the internationals here.

Cheers -Mathias

graphicguy

steine13 said:

You can't lease if you're not a permanent resident. I don't have a definitive source for this information, but I've heard it more than once, and the question comes up routinely where I work due to all the internationals here.

Cheers -Mathias

I've heard the same. No green card or permanent address? No finance or lease. If I were you, I'd find something used that you can pay cash for. Or, find a different brand or dealer that will,offer terms (they might be unfavorable).

mathagh

Thanks you guys for your input. I just get a confirmation from Lexus and Infiniti dealers. They don't have such a restriction and willing to lease a vehicle to me. I am assuming this should be case for Toyota and Nissan.