This is my current scenario. I am on a student F1 visa in the United States, expiring Sept 2022. I am trying to acquire a lease transfer through BMW FS. The lease I am interested in still has approx. 24months left and expires in July 2022.
I have a good credit history. If I apply for a BMW Credit application, is there a chance for denial because of my visa status? Has anyone been on the same boat? Or have had/heard any success stories.
Thanks.
Good credit is all you need, when you apply it will ask you whether you are a US citizen or not. Beyond that your credit will determine what’s what. I actually had assumed a lease from someone who is here on a business visa. His circumstances changed and he didn’t need to keep a vehicle in US anymore.
Yes.
BMWFS isn’t going to do the transfer unless they perceive your creditworthiness as equal or better. Take that for what it’s worth.
Do a search for all the H-1B/H1B/F-1 threads and you’ll get an idea. Creditworthiness aside, as a F-1, what is your source of income (that’s something you’ll have to answer to BMWFS)? Also do you have prior loans/leases for the similar make/amount?
Good luck!
I have a full-time job. I had a prior lease with Toyota FS for 3 years.
Seems you have a decent shot if you have FT job and a prior lease… won’t know till you try. Good luck!
I had somebody get denied on my bmw transfer while the guy had a full time job, good credit and owned a house (mortgage). Then his dad co-signed and got denied again. Finally transferred it to somebody else but took almost a month for bmw to wrap up the paperwork. Also it’s hard getting a lease on a visa. I know few years back a friend after owning a car, switched to leasing but needed a co-signer because of the visa (O1).