Quote:
Originally Posted by A1 RDL
I have a 5 year VISA so they do offer them to Aliens. On another note. I have financed 3 BMW's in the USA. 2 through BMW Financial and one was B.O.A. through the dealer. I have been in the USA since 2005 and have purchased 10 cars in 5 years (9 were financed through the dealers) and have never been asked my VISA status. As long as you have proof of income, a SSN and decent credit you shouldnt need anything else. Biggest problem we foreigners have is showing credit history. So if they look at your history and it only shows the past couple of years thats a risk to them. As an example, my first car loan in the US was a Cadillac through GMAC. I bought an XLR approx $70k. I had to put 55% down and my APR was 12%, crazy but I had no choice at this time. Now 5 years on my two most recent purchases was my M3 where i got the 1.9%, and 0% on my 2011 Escalade. Its frustrating at first.
Go to your own bank and have them finance the car for you. Negative is you wont get BMW (or any other Manufacturers) low rates, only bank rate.
My advise is try a different dealer..
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Thanks man!
My Visa was good for 4 years and will expire in 2, I will try to get it renewed next year through my job and see if it helps. They never asked me for my Visa on the past 3 cars I financed, and I never had to put that much down and always had good rates. ive been in the states since 2004 and my credit is ok..
this is the second dealer I go to, and the bank says the same thing. this time though, they didnt even asked for proof of income, just a visa that is valid for the term of the loan, or us passport/residency/green card.
I am getting pissed off about this whole situation, so I might just forget about it, and try again next year if I renew my visa.. I will check on the bank, problem is that a regular finance on a 74k car will go over $1200/month..