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BMW Lease New to the forum

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Moderator Emerita

Re: BMW Lease New to the forum


MadMoney wrote:

Well, I am unable to deermine which credit bureau BMWFS pulled.  The dealership would have to make a call and the;y were busy. Sorry!


They pulled EX for DH and used an auto enhanced score 

Message 21 of 32
Established Member

Re: BMW Lease New to the forum

Interesting. The finance guy said they do not pull an auto enhance score. 

Message 22 of 32
Moderator Emerita

Re: BMW Lease New to the forum


MadMoney wrote:

Interesting. The finance guy said they do not pull an auto enhance score. 


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Message 23 of 32
New Member

Re: BMW Lease New to the forum

Hello i had a question regarding to lease. Im new to this so im a bit confused. But does anyone know whats the lowest score bmw works with? My fico score ranges from 629-640. i was looking foward to leasing a 2014 bmw 328i with about 1500-2000 down. 

Message 24 of 32
Member

Re: BMW Lease New to the forum

Hello, do you have any auto credit, if so your FICO will be enhanced and you should qualify. I initially put down $1500 but dropped another $1000, so $2500 total to keep my payment under $600. But, I'm happy. My next lease will be a breeze with the auto enhanced score. Make sure you check around for lease offers. Good luck
Message 25 of 32
Frequent Contributor

Re: BMW Lease New to the forum

As others have said hopefully you have had previous positive autoloans in the past, no repos etc and if you have a good income you might be able to qualify. Also if you have more $$ down that will help too. Although when you lease putting more $$ down doesnt save you anything in the end.

Started: 4/14 Bank of America Signature $6k, 85% Utilization, 745 Fako
Currently: 6/17 Bank of America Signature $55k, Chase Slate $0, Chase Freedom Signature $1.5k, American Express Gold NSL, American Express Everyday $6k, Lowes GE $1.5k, Discover IT $30.5k, Capital One Quicksilver $5k, Barclays US Airways $24k, DCU Platinum $30k, PenFed Promise $25k, Chase Freedom Unlimited Signature (From CSP) $50k, Chase AARP Signature $7.5k, American Express Blue Cash $7.5k, Citi American Airlines Platinum $7.7k, Capital One Venture Signature $30k, Chase Sapphire Reserve $12k, Chase Ink Business Preferred $5k. Total Available Credit: $266.5k, Utilization 4%, AAoA 5 Years, TU Fico 762, EX Fico 752
Message 26 of 32
New Member

Re: BMW Lease New to the forum

Yes i have auto loan history. I have 2 cars. An nissan altima 2015 and a bmw 328i 09. But i want to get rid of that old bimmer for the new one. I seen they have a lease special right now at Mckenna Bmw 349$ a month plus tax and about 1800 due at signing but i never believe in those
Message 27 of 32
Member

Re: BMW Lease New to the forum

You should not have any problems, they BMW FS have 3 tiers, at least that's what they told me. I qualified for the last tier, no car credit. Paid cash, and other BMW was in my sister so she got the great auto enhanced credit. Anyhow, my FICO was 720 but BMW scored me like a 650, no enhancement. An additional $1000 down. You shouldn't have any problems. The advertised specials are usually tier 1, the best.
Message 28 of 32
New Member

Re: BMW Lease New to the forum

Oh i see. So it enhances if you have auto loan history? Im planning to go tomorrow and see whats up. What do you think my  monthly payment would be for the 2014 328i? With 1500 down

 


 

Message 29 of 32
New Member

Re: BMW Lease New to the forum

also what car did you lease/finance? what are your monthly payments

Message 30 of 32