Lease agreements: Tips, questions, and experiences

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?

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...😉

I’ve been hitting up different banks lately, and man, the vibes are all over the place.
At some spots, when I brought up the lease, they looked at me like I was carrying the weight of the entire world on my shoulders. At others, they didn't seem to care much, but honestly, it’s all just a massive gray area.
The thing is, none of this shows up on the DOR, so if I hadn't mentioned it myself, nobody would even have a clue.
In fact, a couple of the bankers actually suggested I just leave it out of the paperwork entirely to keep things simple.

brighttinker48 said:I’ve been hitting up different banks lately, and man, the vibes are all over the place.
At some spots, when I brought up the lease, they looked at me like I was carrying the weight of the entire world on my shoulders. At others, they didn't seem to care much, but honestly, it’s all just a massive gray area.
The thing is, none of this shows up on the DOR, so if I hadn't mentioned it myself, nobody would even have a clue.
In fact, a couple of the bankers actually suggested I just leave it out of the paperwork entirely to keep things simple.

Thanks a million! This is incredibly helpful information!

About two years ago, I picked up a Porsche through a lease agreement from a local dealership.
My monthly payment is sitting at around $125, spread over a seven-year term, with a final balloon payment of roughly $2,700 hitting at the end. Since I recently relocated to Austria, I’ve been wondering if there's any way to return the car early, especially since I'm technically not supposed to be driving it here given my residency and employment status. If returning it isn't an option, do you think I could just let my dad use it while I continue to handle all the payments myself?