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06-23-2012, 03:32 AM | #23 | ||
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RS5s start at around $70K last time I checked. Priced around the same but I was hoping Audi would evaluate the lessee differently than BMW. How is the process for taking over someone's lease? I found a particular M3 here that matched almost exactly what I wanted. Would the chances of me taking over his lease be better than getting to lease a new one? |
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06-23-2012, 07:46 AM | #24 |
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^ Taking over someone's lease. It would depend how new the car is I suspect. The newer the car, the more you're on the hook for a total amount of debt, in addition to the ability to pay per month.
I don't think any of the factors would change, except the older the car, the lower the total amount of debt.
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06-23-2012, 06:40 PM | #25 | |
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Another poster mentioned going with a used M3. This is a good idea. Assuming that you have the $15k cash for a down payment, this would be (roughly) 30% toward an M3 with a sell price of $45k. This would lower the risk from the bank's point-of-view and could provide you with the payment history to support a future lease. You would still have a great car just with some miles on the odometer. Just be sure to get one that has been maintained. Aside from the FICO, also look at your DTI. A bank will look at both values for loan approval. |
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