Posts by Daniel Carter96

Emily Sullivan2 said:Greetings,

If my husband acts as a co-signer on a vehicle lease, does that move the needle on his creditworthiness when he tries to secure a mortgage for a house?

I actually just applied for a loan recently and they went through my entire financial life with a fine-tooth comb, like seriously...🤣
so yeah, it’ll probably weigh him down a bit, but honestly, it really depends on which bank you're dealing with and how much total debt is sitting on the books overall...😉

neondriver5 said:Alright folks, let's talk about the fine print. Are we strictly required to maintain full coverage collision insurance for the entire duration of the leasing term? Also, what are we looking at regarding processing fees—is there a specific fee for setting up the lease, or are there other hidden administrative charges I should watch out for?

What’s the actual buyout value of the car after one year, three years, or five years? And are there any mileage restrictions I need to be aware of? One more thing: am I forced to use their authorized service centers for annual maintenance, or can I take it to any shop I trust?

Honestly, the easiest way to handle this is to just bring your pay stubs and drive the car right off the lot.

Yeah, obviously... I'm assuming you're asking about the specific terms. I was just giving a rough rundown based on my own experience with leasing, but honestly, the sales rep will walk you through all the details...👍

Edward Evans7 said:I’m certainly no expert when it comes to leasing, but doesn't that typically go through a bank?
If they use an administrative garnishment, how does the collection actually work? What happens if the employer just ignores the order?
Is the monthly payment higher than one-quarter of your income?
Could you send me a PM and let me know where you managed to get your leasing approved?

The garnishment thing is for some other kind of loan... I just get a bill sent home every month and pay it via mobile banking, through Porsche Financial Services

darkmaker94 said:Aha, figured as much. 👍 Do you happen to know how they calculated your creditworthiness? Like, is the monthly payment capped at maybe a quarter of your paycheck or what?
And I'm assuming with leasing there's no need to deal with a notary for anything?

Paid about $167 for the notary... I've got a wage garnishment from a loan, so that was the only thing they asked about—just how much I still owe on it. As for the credit score stuff, the sales rep at Porsche Financial Services handles all that... they'll tell you right then and there if you're good to go or not.

darkmaker94 said:Anyone got some recent experience with consumer leasing? I'm curious how these leasing companies actually calculate creditworthiness these days. What kind of paperwork are they demanding to get an approval through?

Just an employer verification letter, a few pay stubs... nothing else was required for my finance lease. Everything went through in two days, and by day three, I was already driving the car home...👍

Alexander Walker8 said:So, if we are talking about a finance lease, he can only sell me the car once he has fully bought it out from the dealership? That's the bottom line.

I don't think it's an operating lease, but I need to dig into the specifics tomorrow. I just caught wind of this after work today.

Thanks anyway! Once I have more details (tomorrow), I will share them here.

With a finance lease, they can buy it out, but they can't sell it straight to you because they don't technically own it yet... there's a big difference between those two types of
leasing. You really gotta look closely at the details. I had a finance lease once and paid the whole thing off before the term ended, so I could only sell it once the title was officially in my name... that's when you update the registration.

Alexander Walker8 said:Hey there, I don't want to clutter things up by starting a brand new thread...

Basically, I reached out to a guy about a car and was planning on offering him cash. We settled on $125,000 $0.00.

The catch is he told me the car is currently under a lease through Porsche Financial Services. He suggested that I should just wire the funds directly to them, and once the transfer clears (usually after about 24 hours), we can handle the title transfer and call it a day.

That sounds way too easy to be true! Plus, we live in different cities, and my original plan was to drive over, pay him, finalize the paperwork, and drive straight home.

Now, I'm stuck wondering if there’s any other way to do this, or if we can actually get everything wrapped up on the same day.
I also assume I need to check with the leasing company to see if there are any hidden fees, penalties, or anything else lurking in the fine print.

Thanks in advance! Any advice would be greatly appreciated!!

Look, you're basically buying the car from the leasing company because they actually own it—he's just the user. He needs to call them up and find out exactly what the buyout amount is to close out the debt. Only after that payment hits will the leasing company transfer the title to you. It doesn't necessarily take 24 hours, but it really depends on whether it's an operating lease or a finance lease...

wearyotter36 said:Nah, that’s not how it works. They'll just hunt you down with some tracking number from an email or an invoice to figure out the duties. Once they finish their side of things, the package is yours. You might have to cough up proof of payment first, but Customs doesn't care what the USPS says. To you, it'll feel like the shipment bypassed customs entirely—it's just a pit stop. It takes a bit longer here in the States, but that's the deal for now.

All I really have is the confirmation from my Visa transaction, but hey, thanks for getting back to me anyway👍

Daniel Carter96 said:Hey, so I just ordered some stuff from China, total value is around $72... looking at the tracking number and it looks like it's sitting at customs right now. Does anyone know how much extra I'm gonna get hit with or if there will even be any additional fees on this? thanks...

Yo, so according to the tracking number, my package is being held up at customs because they say there's no invoice included. I paid everything through PayPal, though... what happens now? I really hope I don't have to drive all the way into New York City just to deal with the customs office in person...😵😵😵

Hey, so I just ordered some stuff from China, total value is around $72... looking at the tracking number and it looks like it's sitting at customs right now. Does anyone know how much extra I'm gonna get hit with or if there will even be any additional fees on this? thanks...