Quote:
Originally Posted by ly3158944
I got stuck with dealer while the x5 is waiting for carrier to ship. The whole waiting period has been more miserable to us.
My wife and I are on visa. And we are trying to apply for $7,500 (minimum) loan to get the $2,000 credit. The CA and the financial director insisted on letting school issue a visa sponsorship letter. And this still happened after we gave them our bank statements, pay stubs, and visa documents.
The points here are : 1. I doubt school will issue a letter on a personal request (Buy a car). We will see what school says today. 2. The letter they insisted is not listed on the BMW FS loan checklist. The finance director said the additional letter was based on his conversation with BMW financial bank (buyer). And it is case by case. He is just the middle man. And at the end of day it is still BMW's money, it's their call to the approve the credit.
I feel like the whole doesn't make sense. Anyone has or knows similar situation here? Is the $1,000 I put down when I ordered the car refundable? Thanks.
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I was in your shoes a few years ago...both my wife and I are physicians on a visa (J1 to be specific) ... tried leasing acura and mercedes in the past... Mercedes flat out refused even though we offered to pay the whole 3 yr lease payments upfront...acura accepted and we took the car home until 1 week later dealer called us and said we can't keep the car with you guys unless a co-signer is available...I wanted to throw the damn thing in their face and have them take a loss on the car but my wife loved the acura RDX so I had my father cosign for us...we leased hondas and nissans before and it was a nonissue...unfortunately luxury cars like bmw, Mercedes tend to be more strict specially with foreigners since the visa usually has an expiration date and thats what they're afraid of...leaving the country and abandoning the car payments before maturation of lease... your deposit should be absolutely refundable..i would walk away if you're not too attached to the car...not sure your school would provide such a letter...I'm also not sure what king of visa you're on but we haven't had any issues like this since becoming on a H1B visa which is a work visa...hope this helps...