I was planning to transfer a lease from somebody else last month. However, I got rejected by BMWFS. My credit history is about 2.1 years. I have 5 credit card with decent amount of credit limit. The report from BMWFS also shows I have a score of 750+. The scores from other two bureaus are ~770 in their official app. My salary should not be a problem to lease a car.
Two general reasons are listed, 1. too many hard pulls in last 12 months (not sure if 2 hard pulls can be considered as “too many”), 2. no installed auto loan (I didn’t get a chance to start one, so I want to start one now).
However, no specific decline reason is listed, and I have to write to them in order to get the specific reason. I guess even if I write to them, the reasons given will still be very vague, but I’ll give them a try.
Now I plan to sign a new contract from the beginning. Not sure I’ll get rejected again. So just want to ask hackrs what could the potential reasons and should I just wait? Can I get approved if I apply at dealer? Anything I should be aware of when I apply again?
Some other infos: I’m on F-1 now but got H1-B approved. H1-B will be effective on 10/1. However, when I applied the assumption online, I only filled in “I’m not a permanent resident” and “my current visa will expire on 07/22”, so BMWFS should not know my current visa status (at least doesn’t distinguish F-1 and H1-B). The lease I planned to transfer has 27 months remaining.