Got denied to lease a car

[bus380]

I went to a car dealership to lease a vehicle  and they could not arrange this. This was because I lacked employment to qualify for a lease. (I’m in 2nd year med school) They expected me to buy the car outright. Is this typical? I have never heard this requirement from other dealerships. I would appreciate your input.

[capoo]

26 minutes ago, bus380 said:

I went to a car dealership to lease a vehicle  and they could not arrange this. This was because I lacked employment to qualify for a lease. (I’m in 2nd year med school) They expected me to buy the car outright. Is this typical? I have never heard this requirement from other dealerships. I would appreciate your input.

Huh, really surprised that you got refused as a med student, considering your LOC/potential income/all that jazz. I'd suggest going to another dealership with the same vehicle in mind to see if the same thing happens – for all we know it might just be a sales tactic at that specific dealership to pressure you into buying the car outright (so that they could make more money off of you and/or meet their sales quota for the season).

[powdermonkey13]

I'm not too surprised. Leasing is a car is basically like applying for a loan. If you have no income coming in, then how do you pay back the 'loan' as you are contractually supposed to do. From my understanding lenders don't like you paying one credit account with another. But I agree, try a different dealer and see what happens.