Potential issue with loan for primary home purchase
Here's the situation. I am in escrow for a primary residence purchase and I will be converting my current primary as a rental. My lender is not factoring this future income so my debt to income will be a little high. They are asking that I pay off a car loan of $10,000k. I have two car loans: $10k at $625/mo and another $42K at $725/mo (Tesla). I have $10k to pay it off but I hate to tie up that cash up in a car and rather use it to toward fixing the new home (it needs some minor repairs).
I am thinking of selling the $625/mocar which Shift has offered me $20k. This way I'll net $10k, but I do need two cars since my wife, son and I share two cars for school and work. I will then lease a $300/mo car with $0 down (e.g., corolla or camry). Is this a good idea? Any other techniques? Will the lender not like to see a lease open during escrow?