If I purchase a FIT and then try to lease a S2k..
#1
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If I purchase a FIT and then try to lease a S2k..
Long story short, I am going to purchase a Honda FIT 2009. However, when the lease specials roll out next year, this is when I want to lease a S2k.
However, I was told by my friend that in having a trade line (financing a FIT) open, it will affect my monthly rate on a S2000 for the lease.
Umm, does this make any sense on my friend's behalf? He recently purchased a 2008 Infiniti G37C and his salesman told him to pay off his 2005 ACCORD to get the 0.9% interest rate through Nissan Financial. And it's because of this experience, my friend is suggesting I do the same.
I am going to finance the Honda Fit in a couple of weeks and once the S2000 specials roll out, I will then lease the S2k. (My plan is lease-to-own).
However, I was told by my friend that in having a trade line (financing a FIT) open, it will affect my monthly rate on a S2000 for the lease.
Umm, does this make any sense on my friend's behalf? He recently purchased a 2008 Infiniti G37C and his salesman told him to pay off his 2005 ACCORD to get the 0.9% interest rate through Nissan Financial. And it's because of this experience, my friend is suggesting I do the same.
I am going to finance the Honda Fit in a couple of weeks and once the S2000 specials roll out, I will then lease the S2k. (My plan is lease-to-own).
#3
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I had 2 leases with Honda at the same time, not a big deal, unless your credit is poor.
#4
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if your debt to income ratio is a little less than favorable, then yes, your ability to reasonably make your lease payments become suspect in the eyes of the finance company. Thus, to hedge against this more likely of a scenario (you not coming through on the lease), the finance company will either insist on a larger security and down payment, or force you to amortize that lump sum over the term of the lease, thus raising your lease payment by that amount.
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