I just had my BMW lease taken over by a gentleman and the account is now closed under my name. My questions is that I now want to finance a used car but I know that my credit report will not yet show the account being closed. Will this be a hurtle when applying with banks? My fico score is 654 and I am looking to get a 21k loan.
I underwent the same thing a couple years ago. I showed the dealership finance manager the completed lease assumption paperwork from BMWFS and he immediately discounted that obligation, despite it showing open on my credit report.
Starting Score: EQ 717 EX 724 TU 736 Current Score: EQ 849 EX 835 TU 841
Starting Score: EQ 717 EX 724 TU 736