So I just got reject by BMWFS because of thin credit history. I am on H1B visa and have had credit for the last 4 year. My score is 750+. My dealer is recommending the BMW International executive program top get around the thin credit history.
My H1B visa will expire in 1 year and 4 months. I can get a letter from my employer stating they will renew for another 3 years. What are my odds that works and do I have anything other options?
Appreciate any help as I am new to this.
Finance (purchase) it - may find better acceptance there. Search LH for H1B’s, and you’ll find various levels of success and failure. Everyone’s case is so unique along with the make/model/dealership you’re working with.
I don’t think it’s down to how long is left on your visa, just the length of your credit history. I entered on a CR1 3 years ago. I also got rejected first time by BMWFS, but adding my wife who’s a US citizen got us over the line. The mortgage company wouldn’t have her on the mortgage as she had a temp job but gave me a big mortgage. I also had no problems getting Ford to accept me. My Green Card expired and all I have is a stamp in my passport, still got a new mortgage. Some things are a mystery.
Home Mortgages are backed by the property, you disappear, they got the property.
Leases are backed by the car, if you were to ‘disappear’ and you ‘crashed the car’ right before you left, they lost everything.
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