Dear fellow hackers, does anyone have any advice on how I can extend my BMW lease for 6 months?
Do I have any options?
Can your local dealer cooperate with you to order a new car without an ironclad commitment to buy it?
They’d probably be happy to order something that would sell quickly if you don’t take it.
But for DTI/mortgage app purposes wouldnt your best bet be to not have a lease on your app?
This is largely a myth.
If you apply for / secure new credit, it will create some extra work / documentation for your loan processor / officer, but you’re paying for a service and they should roll with it, especially now when mortgage volume is so impossibly low.
If you are on the razor’s edge for approval for the best terms, score-wise, there is a case for not rolling the dice. A new account may cost you a small handful of FICO points.
But aside from that you’ll just have one extra form to fill out to explain that the new lease replaces the existing one in your credit report.
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