Car lease on WP
Apr 3rd 2007, 1:34 pm
#1
Seasoned Maritimer
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Joined: Jun 2005
Location: Fredericton, New Brunswick CA
Posts: 8,309
Car lease on WP
Are you able to take leasing over a longer period than your work permit or this is one of the drawbacks in not having PR ?
Apr 3rd 2007, 1:37 pm
#2
Slightly Canadian
Joined: Jul 2005
Location: St. John's, Newfoundland
Posts: 10,129
Re: Car lease on WP
Paul, I don't think so. One of my Bro in law's is a car salesman and he has told me that getting a lease / finance for a period longer than a WP is difficult if not impossible. (He works at a Daimler Chrysler dealer). Makes sense I suppose.
One option if you want to lease would be to take over an existing lease with a shorter term. Check out www.leasebusters.com which facilitates these deals. You can search by car type and/or lease period.
AX
Apr 3rd 2007, 1:39 pm
#3
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Re: Car lease on WP
Paul, I don't think so. One of my Bro in law's is a car salesman and he has told me that getting a lease / finance for a period longer than a WP is difficult if not impossible. (He works at a Daimler Chrysler dealer). Makes sense I suppose.
One option if you want to lease would be to take over an existing lease with a shorter term. Check out www.leasebusters.com which facilitates these deals. You can search by car type and/or lease period.
AX
One option if you want to lease would be to take over an existing lease with a shorter term. Check out www.leasebusters.com which facilitates these deals. You can search by car type and/or lease period.
AX
Paul.
Apr 3rd 2007, 1:45 pm
#4
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Re: Car lease on WP
I leased for 30months when I arrived, Im pretty sure my WP was for only a year. Did have to leave a large security deposit with them though., and they did want some sort of letter from my employer.
Apr 3rd 2007, 1:51 pm
#5
Slightly Canadian
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Location: St. John's, Newfoundland
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Re: Car lease on WP
Apr 3rd 2007, 1:51 pm
#6
Magnificently Withering
Joined: Jan 2007
Location: Oakville, ON
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Re: Car lease on WP
My current WP is for a year too, but with a copy of a letter from my employer stating that I have a full-time permanent position I was able to lease a Honda over 36 months - this is in August last year. I put in a reasonable downpayment, which I guess served pretty much the same purpose as Iain's security deposit.
Apr 3rd 2007, 1:56 pm
#7
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Re: Car lease on WP
Thanks all. I will do that. Already have the 'letter' in my possession and I will have around $5000 to put down after a month there so I will approach a few dealers and see what happens. Already been in touch with a couple and sorted quotes for insurance.
Last edited by Tangram; Apr 3rd 2007 at 1:58 pm.
Apr 3rd 2007, 2:28 pm
#8
Pea Brain
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Re: Car lease on WP
As a matter of fact, Ford didn't even ask about residency status. They just used my driving licence as proof of address, and that was it. Mazda took a photocopy of my passport and WP.
Along the same lines, I took out a 5yr interest free loan with John Deere for farm machinery within a few months of arrival - just needed to provide a photocopy of my passport and proof of address.
I've not found that having a WP has been any disadvantage in terms of making financial arrangements.
Edited to add that I've never been asked for a down payment, security deposit or employment details (I'm self-employed) either.
Last edited by R I C H; Apr 3rd 2007 at 2:31 pm.
Apr 3rd 2007, 2:55 pm
#9
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Re: Car lease on WP
Absolutely you can - my WP is for 3yrs and in the past 6mths (after being here for a year) I've leased a Mazda 3 and Ford F150. The lease agreements for both extend beyond my WP expiry.
As a matter of fact, Ford didn't even ask about residency status. They just used my driving licence as proof of address, and that was it. Mazda took a photocopy of my passport and WP.
Along the same lines, I took out a 5yr interest free loan with John Deere for farm machinery within a few months of arrival - just needed to provide a photocopy of my passport and proof of address.
I've not found that having a WP has been any disadvantage in terms of making financial arrangements.
Edited to add that I've never been asked for a down payment, security deposit or employment details (I'm self-employed) either.
As a matter of fact, Ford didn't even ask about residency status. They just used my driving licence as proof of address, and that was it. Mazda took a photocopy of my passport and WP.
Along the same lines, I took out a 5yr interest free loan with John Deere for farm machinery within a few months of arrival - just needed to provide a photocopy of my passport and proof of address.
I've not found that having a WP has been any disadvantage in terms of making financial arrangements.
Edited to add that I've never been asked for a down payment, security deposit or employment details (I'm self-employed) either.
Apr 3rd 2007, 2:58 pm
#10
Yorkshire meets Vegas
Joined: Jul 2004
Location: T. ON (so there!)
Posts: 1,354
Re: Car lease on WP
^ What he said... I've had two lease cars, one from Daimler Chrysler and one from GM...
DC were problematic, and initially wouldn't give a lease longer than the WP so I had to get a letter from work.
My new car is leased for 3 or maybe 4 years. I could have done zero down, and the lease length far exceeds my visa term...
I think DC are missing a trick here....
DC were problematic, and initially wouldn't give a lease longer than the WP so I had to get a letter from work.
My new car is leased for 3 or maybe 4 years. I could have done zero down, and the lease length far exceeds my visa term...
I think DC are missing a trick here....
Apr 4th 2007, 4:19 pm
#11
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Re: Car lease on WP
^ What he said... I've had two lease cars, one from Daimler Chrysler and one from GM...
DC were problematic, and initially wouldn't give a lease longer than the WP so I had to get a letter from work.
My new car is leased for 3 or maybe 4 years. I could have done zero down, and the lease length far exceeds my visa term...
I think DC are missing a trick here....
DC were problematic, and initially wouldn't give a lease longer than the WP so I had to get a letter from work.
My new car is leased for 3 or maybe 4 years. I could have done zero down, and the lease length far exceeds my visa term...
I think DC are missing a trick here....
Apr 5th 2007, 9:26 am
#12
BE Enthusiast
Joined: Feb 2005
Location: Toronto. ON
Posts: 919
Re: Car lease on WP
Paul,
We leased a new Nissan Murano when we first arrived. Our work permits were issued for 24 months, the same period as the lease. This was a $40k car with a $7k deposit. Credit check took about 10 mins to approve. We had to provide proof of salary and a copy of the work permit. We even offered a copy of our Equifax credit report from the UK which they declined. Hope this helps?
SAW 04
We leased a new Nissan Murano when we first arrived. Our work permits were issued for 24 months, the same period as the lease. This was a $40k car with a $7k deposit. Credit check took about 10 mins to approve. We had to provide proof of salary and a copy of the work permit. We even offered a copy of our Equifax credit report from the UK which they declined. Hope this helps?
SAW 04
Apr 5th 2007, 10:33 am
#13
Yorkshire meets Vegas
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Apr 6th 2007, 7:21 pm
#15
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Re: Car lease on WP
Strange that the guy at Ford said no and even said that as Mazda is part of Ford, they wouldn't do it either.
I can see an argument brewing....having said that I don't want the Ford, just the Mazda or Toyota ( I was using him as ammunition )....I will just have to wait and see.
Paul
I can see an argument brewing....having said that I don't want the Ford, just the Mazda or Toyota ( I was using him as ammunition )....I will just have to wait and see.
Paul