Quote:
Originally Posted by JAC23
Could someone explain how the credit check works with leasing. I am 25 yrs old with a credit score of 793 and i was told i could not qualify for the lease without a co signer. Thought this was ridiculous because i can certainly afford the payments. Does having a cosigner mean i won't build any credit on this lease?
Thanks for any help
|
Bmw looks at more than just your credit score. They check if you had a previous car loan before and if you are able to handle the payments. You are talking about a $70k vehicle so if you never had a car loan before then they will ask for a cosigner. Combined creditcard balance also plays into credit check. It also depends on your monthly expenses and how much you make a year. Good luck!