[mvbmw]

I recently ordered a 335i Coupe, but when finalizing the lease, the dealer said that I need a co-signer, since this is my first lease and I am only 26. My credit and job are good. I called BMWFS and they said I need to talk to the dealer and that they won't help me.

I was wondering if this happened to anyone else? Or should I try a different dealer? Thanks

[NJ328I]

It happened to me, since my wife's Pathfinder is in my name, my wife had to co-sign on my BMW. They termed the Pathfinder has a automotive debt, so I had to have a co-signer.

[SMOKE EM IF U GOT EM!!]

yes on my last car i tried to get a benz by myself, i was 21 and didnt have sufficient credit so my pops co-signed for me. ever since then i have been fine and keep getting credit card offer after offer! its great

[SteveMD]

Hmm...I thought BMW leases were simply approved or denied. Could be why BMWFS is pushing you back on the dealer. You're approved but dealer wants a co-signer.

Sounds wierd. Ask if you can put down MSDs and get rid of the requirment for a co-signer.

[John 070]

Credit is interesting, I got 60 mos. at 5.5% at the dealer. My friend went and got 48 mos. at 6.7%. Same dealer, same bank (BoA). Only thing I can figure is different credit scores. To me the cosigner doesn't make any sense, as the cosigner gets no benefit, only liability. Why do that to someone else? Look for a better agreement... my .02

[IrvRobinson]

Originally Posted by mvbmw

I recently ordered a 335i Coupe, but when finalizing the lease, the dealer said that I need a co-signer, since this is my first lease and I am only 26. My credit and job are good. I called BMWFS and they said I need to talk to the dealer and that they won't help me.

I was wondering if this happened to anyone else? Or should I try a different dealer? Thanks

I don't think a different dealer is necessarily the answer,but try one more just to satisfy yourself.It's in the dealers best interest to lease you the car and no dealer holds paper,they sell it to the leasing companies or financial institutions.Have you ever had high car credit,that's usually what the lenders are looking at,or your debt to equity ratio could be out of line,just like buying a house.They need to see that you have the ability to payback a lease (the cars are harder to repo if they have to ) and it's usually easier to get financed then to lease because they can repo that financed car faster......btw,BMWFS
doesn't want to explain this to you,they leave it to their dealer network as the dealer can usually offer other ideas while FS can't...

[mvbmw]

Thanks for your help. I will try another dealer.