International Student Lease Program

Enter the following:

• “International” student in the Employer
• School address and length of time the student has been in their program (i.e. – 5 months].
• Best Practice – Please have your business manager enter in the Notes section of the portal:
• “This is an International Student.”

Enter the amount of funds that will be shown as deposited monthly into their bank account, which will be verified via bank statements.

We will be looking for a reasonable bank balance and will assess each situation on a case by case bases.

The program stipulates we need the applicant’s parents’ name, address, phone number and email address.

The program requires a security deposit of 5% of MSRP and if the applicant’s student visa expires before the end of the lease, [i.e. 30  months  remaining  on  student  visa,  36-month  lease]  the student is also required to pay an additional security deposit for each month that exceeds the remaining term of the student visa, to a maximum of 12 months.

• Example 1 – Student visa expires in 33 months and dealer selects a 36-month lease. The client is required to increase the security deposit by J monthly payments.
• Example 2 – Student visa  expires  in 40 months and  the dealer selects a 36-month  lease.  Proceed  as normal – there is no additional security deposit required as lease matures before visa expires.
• Example 3 – Student visa expires in 8 months and dealer selects a 24-month  lease.  The client  is not eligible for this program as lease term exceeds the visa expiry by more than .12. months.

Security deposit returns will be handled in the same manner as our standard lease program. Students need to keep GMF apprised of any and all address changes.

Standard program parameters apply.