08-22-2020, 07:54 PM | #1 |
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Has anyone tried changing their co-signer on a lease?
Hi all, my wife is a co-signer in a lease we purchased in early July. She is trying to buy a rental property on her own and I’d like to transfer her off as a co-signer and replace her with another family member.
Has anyone done this before? I called BMW Financial services and they said it is possible however they said we need to do a lease assumption and both myself and the new co-signer would have our credit run again. I am wondering why they would need to run my credit again along with the new co-signer and not just theirs. Any input here is greatly appreciated! Thanks all! |
08-22-2020, 08:32 PM | #2 |
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With any new lease contract, the bank will need to check your credit again. Also, as long as it's within 60 days, multiple inquiries from the same bank will not count as another hard hit to your credit score.
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08-23-2020, 06:11 AM | #4 |
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if you are this worried about your credit why the hell are you leasing a bmw......
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08-23-2020, 10:39 AM | #5 |
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I went through the credit check and assumption process, it's like transferring to an entirely new place.
Takes forever, been about 3 weeks now and in still waiting on the to mail back some more info. |
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