Negotiating a Lease due to change of terms by the Dealer
07-01-2024, 05:43 PM
#16
Instructor
Join Date: Jun 2012
Location: Silicon Valley (formerly Zurich, CH)
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I think the comment was that this would be an expensive proposition with poor ROI. A lawyer will take your money. Rest assured on that. They may try to counsel you out of it,, but it is your money.
07-01-2024, 06:17 PM
#17
Any proof to back that up? Or just spitballing here?
07-01-2024, 06:42 PM
#18
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"is" and "can be" are two different things. An I-140 is not a magic/automatic visa extension. It's approval to file an I-485 adjustment of status (which may or may have been filed concurrently with the I-140) or less commonly, start the consular processing path. Basically, having the thumbs up to pursue a green card is not the same thing as actually having it. As I said above, a lender is legally allowed to consider immigration & residency status as it specifically relates to repayment ability... So to say there is "ZERO reason for denial" is not accurate.
Correct, but that's not what the OP stated. The issue at hand is a visa expiration date, not just they're just an immigrant.
Any proof to back that up? Or just spitballing here?
Correct, but that's not what the OP stated. The issue at hand is a visa expiration date, not just they're just an immigrant.
Any proof to back that up? Or just spitballing here?
You're right can be and Is are two different things. However, I would assume if OP wanted to move forward legally with this, he would have his green card status sorted out.
I think that the immigration status and the visa expiration date go hand and hand. In todays world especially in America, it's not a far jump at all to think that OP is experiencing prejudiced undertones from the dealer.
07-01-2024, 06:55 PM
#19
Nope.... More assumptions I take it?
07-01-2024, 07:06 PM
#20
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It's not an assumption. It's exactly what's happening here from the info given by OP. But Let's not leave out my full statement here. "I think that the immigration status and the visa expiration date go hand and hand. In todays world especially in America, it's not a far jump at all to think that OP is experiencing prejudiced undertones from the dealer"
07-01-2024, 07:13 PM
#21
Not at all, it's just a step to take if this is the route OP choses to take.
It's not an assumption. It's exactly what's happening here from the info given by OP. But Let's not leave out my full statement here. "I think that the immigration status and the visa expiration date go hand and hand. In todays world especially in America, it's not a far jump at all to think that OP is experiencing prejudiced undertones from the dealer"
It's not an assumption. It's exactly what's happening here from the info given by OP. But Let's not leave out my full statement here. "I think that the immigration status and the visa expiration date go hand and hand. In todays world especially in America, it's not a far jump at all to think that OP is experiencing prejudiced undertones from the dealer"
07-01-2024, 07:22 PM
#22
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The bold texts states that you shouldn't take half my quote and then say its an assumption.
The Discrimination is not only emotional it's also illegal...
07-01-2024, 07:29 PM
#23
the only fact from the OP stated is that the denial is related to their visa expiration date.
not a fact, just an assumption
Not sure how else to explain this to you. It's not illegal to base their lending decision on a visa expiration date. You're clearly under-informed on this point.
not a fact, just an assumption
Not sure how else to explain this to you. It's not illegal to base their lending decision on a visa expiration date. You're clearly under-informed on this point.
07-01-2024, 07:39 PM
#24
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the only fact from the OP stated is that the denial is related to their visa expiration date.
not a fact, just an assumption
Not sure how else to explain this to you. It's not illegal to base their lending decision on a visa expiration date. You're clearly under-informed on this point.
not a fact, just an assumption
Not sure how else to explain this to you. It's not illegal to base their lending decision on a visa expiration date. You're clearly under-informed on this point.
The dealer is saying that the bank is NOT going to accept this. Let's break this down. The dealer didn't say that the Bank DID NOT accept this. Two completely different things. This is not an assumption this is going off of OP's words. Point blank.
Once again it is discrimination which is illegal if OP extends the Visa to fit the original lease terms and they're still only offering the new deal to get him to pay an extra $250 for the new short term lease...
07-01-2024, 07:58 PM
#25
But I give up. You’re clearly unwilling to recognize your own ignorance when it comes to this topic….
thus making further discussion pointless.
07-01-2024, 08:31 PM
#26
Drifting
Hello fellow Porsche-owners,
I am planning to lease a 2024 Cayenne Coupe and this will be my first Porsche. I built the car and going to finally pick it up this week. I had initially signed-up for a 39 month lease but this week the dealership told me that they could only approve me for a 18-month lease because my visa expires in 2026. That felt unexpected because this was never discussed and I do have a valid document (I-140) that can extend my visa but the dealership is saying that the bank is not going to accept this? They are now offering me an 18-month lease which is ~250$/mo more expensive than my previous deal. Sharing deal specs below:
Anyone has any experience in navigating this situation with the dealership?
I am planning to lease a 2024 Cayenne Coupe and this will be my first Porsche. I built the car and going to finally pick it up this week. I had initially signed-up for a 39 month lease but this week the dealership told me that they could only approve me for a 18-month lease because my visa expires in 2026. That felt unexpected because this was never discussed and I do have a valid document (I-140) that can extend my visa but the dealership is saying that the bank is not going to accept this? They are now offering me an 18-month lease which is ~250$/mo more expensive than my previous deal. Sharing deal specs below:
Anyone has any experience in navigating this situation with the dealership?
The following 2 users liked this post by kayjh:
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07-01-2024, 08:41 PM
#27
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LOL, You just didn't want to get lawyers involved to start. I was suggesting the steps OP needs to take imo. Not saying extending a visa is easy.
07-01-2024, 09:58 PM
#28
Burning Brakes
green card holder is a legal permanent resident. I-140 is not. OP could choose to bail out at the visa end date even if he is eligible to extend. hence the risk.
additionally, you can discriminate, unless it is based on a protected reason. i.e. declining for bad credit is discrimination as well but only a fool would say that discrimination should be illegal.
extending a financial obligation to an individual who has no obligation to be around for the duration of that commitment would be dumb.
additionally, you can discriminate, unless it is based on a protected reason. i.e. declining for bad credit is discrimination as well but only a fool would say that discrimination should be illegal.
extending a financial obligation to an individual who has no obligation to be around for the duration of that commitment would be dumb.
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07-01-2024, 10:54 PM
#29
Ehhh, not entire accurate. The Equal Credit Opportunity Act permits a lender to leverage immigration specifics to predict a creditor’s ability regarding repayment, blind or broad reliance on the mere existence of immigration status alone will get them into hot water. AKA - you can deny a loan term based on a visa expiration date (the OP's issue at hand) but you cannot simply say "we never loan to people who are here on visas"
07-01-2024, 11:05 PM
#30
Three Wheelin'
Disclaimer: I didn't read this whole thread, lost interest around the bickering about suing.
Typcially, Porsche doesn't lease well. You are better off just financing it.
You need to post you lease deal terms, price you are paying, the money factor and the residual.
Find out what the lowest MF for July is without markup. The rest is easy because the price you pay is easy to comprehend and the residual is always the same for everyone by month (using Porsche).
The dealer wants to sell you the car.
Typcially, Porsche doesn't lease well. You are better off just financing it.
You need to post you lease deal terms, price you are paying, the money factor and the residual.
Find out what the lowest MF for July is without markup. The rest is easy because the price you pay is easy to comprehend and the residual is always the same for everyone by month (using Porsche).
The dealer wants to sell you the car.