My sister is leasing a car right now and her lease is up in August. I am looking to apply for a car loan sometime in August and buy the car once she is ready to turn it in to the dealer (she is not looking to keep it). I already contacted the bank she is leasing from now and they said that I would be able to do this if I get a loan. I am thinking of going through my credit union. I am also going to be buying a property together with a friend of mine within the next month (we are looking at this as an investment). We are already going through the "qualifying stages" and should know shortly. We are going to be renting this property out and having a positive cash flow of about $300 per month (we are not touching this of course). The mortgage will be about $1700 per month with rent totalling about $2000 per month. My question is this one, will having this property on my credit affect my chances of getting a car loan in August? Will the fact that we can show proof of rent coming in help me in any way? Hurt me? Please help. Thanks in advance!
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