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      11-30-2019, 12:09 PM   #1
RJJJ
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F1 visa Not qualified for finance?

Hi guys, I am ordering a X6 M50i. I am an international student on a F1 visa, just graduated and working with OPT right now. I want to finance the minimum amount to get the $3,000 apr credit. The dealer told me I am not qualified for finance due to my status. Is this really the case? I have a high credit score. Is there anything I can do? Thank you very much.
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      11-30-2019, 02:01 PM   #2
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You should give BMW Financial a call just to verify they won't extend financing in your situation. 1-800-578-5000 I have seen some internet posts saying some finance companies will not do financing for F1 OPT and of course others will.
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      11-30-2019, 03:57 PM   #3
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Quote:
Originally Posted by TurtleBoy View Post
You should give BMW Financial a call just to verify they won't extend financing in your situation. 1-800-578-5000 I have seen some internet posts saying some finance companies will not do financing for F1 OPT and of course others will.
Thank you. I will call them on Monday.
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      11-30-2019, 03:58 PM   #4
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Originally Posted by TurtleBoy View Post
You should give BMW Financial a call just to verify they won't extend financing in your situation. 1-800-578-5000 I have seen some internet posts saying some finance companies will not do financing for F1 OPT and of course others will.
The only reason I want to finance is to get the Apr credit, otherwise i would just pay cash to purchase
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      12-06-2020, 04:14 PM   #5
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I am not sure why you had problems. I hope that you managed to fix it. As someone who has been living n the states for a few years now with an H1B visa I can understand that there are certain limitations when it comes to certain rights. that is one of the reasons that before I moved I did some research regarding the laws of different states. I know that immigration usually is covered by federal law but certain states can have their ow quirks that you need to be aware of. I always wanted to move to LA so I have been doing a lot of research regarding h1b visa law Los Angeles has implemented. It is fairly straightforward but there are a few differences that I had to make sure I took into consideration. I hired a lawyer who helped me out and honestly it was a smart decision. I think that in your case it would not hurt you as well. Especially since financing can be a pain even with a citizenship.

Last edited by lakersgirl248; 12-13-2020 at 08:43 AM..
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      12-11-2020, 06:14 PM   #6
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Quote:
Originally Posted by RJJJ View Post
Hi guys, I am ordering a X6 M50i. I am an international student on a F1 visa, just graduated and working with OPT right now. I want to finance the minimum amount to get the $3,000 apr credit. The dealer told me I am not qualified for finance due to my status. Is this really the case? I have a high credit score. Is there anything I can do? Thank you very much.
You shouldn't tell dealer you are on f1 visa, which is irrelevant. Suggest you try another dealer.
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      12-12-2020, 07:04 AM   #7
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Quote:
Originally Posted by libosun View Post
You shouldn't tell dealer you are on f1 visa, which is irrelevant. Suggest you try another dealer.
Exactly; your visa status is irrelevant to the Financing process. Although common sense says that it should be a factor. F1 with OPT in today's age is dicey in the sense if you can get an H1 or not.

It shouldn't matter but common sense (no Ts and Cs) says it should not.
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      12-16-2020, 11:20 PM   #8
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Unsure how how this works on the BMFS end, but on their loan application they ask "US Citizen or a Permanent Resident". If you answer "No" they want your visa expiration date, not sure if this would affect your qualification depending on visa expiration date.
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