Recently I tried to lease a BMW M240i through a dealer, the deal looks nice but I was stuck in the financial application process.
I am holding F-1 student visa, valid through 2028, and currently is a master student, I have valid employment offer after graduation and SSN with about 5 years credit history with 780 credit score shows in credit karma. I have OPT after graduation and will qualify for STEM OPT extension for max 3 years.
I have equity on my end which could support me paying for the leasing before my employment starts, and I explained to dealer, their financial manager understand it and kind explain to BMW FS.
After submit my application, dealer might get warning in their system since they ask me to provide green card/US passport. Since I don’t have them so they ask me to provide a company employment visa sponsorship letter. I asked HR but seems they never heard this request before and they firstly said no because technically I will be in my OPT process so there’s no sponsorship. They will enter me into H1-B lottery but there’s no gaurantee I will get the visa (of course it’s a lottery).
Is anyone have similar experience in this issue? I researched a bit in the past posts but seems like some people get approved immediately and some was not. Looking for some useful guidence and valuable datapoints towards non resident BMW leasing.
go to experian.com and grab your FICO score which is the most accurate and if you pay $10 you will get your Auto Fico score
also if you have no auto loans on the credit report - you will have to put a huge down payment
i am guessing you are not working for FAANG - if so, their Job Offer letters say something along the lines of “we will do everything possible to maintain his immigration status in the US”.
if your work/HR is not ready to provide it, explain them you want something along the lines that they are doing everything reasonably possible to maintain your immigration status. Including 24 mo STEM OPT (if you qualify) and if the employer is “e-verify”
if all fails submit your original job offer letter that you provided DSO to get an endorsement on I-20 - now it is up to the F&I guy how good they are with their words. It’s a 50/50 chance of approval.
BMW is immigrant friendly but so is VW /Audi FS/Volvo
i understand you might’ve your heart set on a BMW M240 but you might have to wait it out or build credit or find a captive lender who is willing to lease to F-1
I have been leasing all my cars on F-1 till i moved to another visa.
Nobody ever asked me for that letter or proof of employment/immigration status
But i had solid credit and my first deal was with a co-signer who had mortgage and auto credit
i also stayed away from BMWFS because their system always ask for nationality when you apply for loans. That was my cue to stay away
Infiniti/NMAC, Ford FS, GM FS, Ally, Toyota FS, Volvo FS and VW are who i have been successful with - nobody ever asked for immigration proof when closing the deal or while applying.
Yes I am not work for FAANG but the company is one of the fortune 500, not sure why they even didn’t hear this case before. They will sponsor H1-B visa for me but they just didn’t write in the official offer.
Will contact HR with detailed explaination and see if they can approve the letter on their end.
this is BMW FS’s request, dealer is trying hard to push back but BMW FS said no because this is BMW requirements, I already got hard pull in my credit.
My OPT is STEM eligible, I told the exact same thing to dealer. My sales was good with my explanation and so does his business manager. They informed BMW FS but BMW FS said this is BMW requirement.
I got broker feedback said I might qualify for BMW executive financing program, which might require more down or higher MF. but I am afraid they require the same employment sponsor letter or H1-B visa.
I told my sales can I put more down, he said he can try to talk with them again but he don’t have much confident they will agree even with the one-pay lease. I guess this is reasonable since BMW FS owns the car so they have risk if I am not paying anything.
