Credit Card Center Advertiser Disclosure†
12-15-2013 08:09 AM
12-15-2013 05:03 PM - edited 12-15-2013 05:08 PM
12-15-2013 09:36 PM
12-16-2013 07:32 AM
12-16-2013 04:19 PM
If your credit score is already at or above 700 then even paying down utilization and raising it further is not going to have a significant effect on auto lease rates. I don't know what BMW's promotional cycles are like but I do know on most makes the dealers offer some pretty serious incentives at the end of the year (December) to move out cars before taxes are assessed. At least in California.
You may want to check in with at least one different dealership to see if they can give you even better terms than your current offer.
12-18-2013 08:45 PM
You were correct but I did get the car. I leased the 2014 528i. $2500 down, payment $588 for 36 months, not the $1500, 576 payment I was anticipating. My score dropped all the down to a 610 with auto-enhanced. I have no car credit, saved and paid cash for last 528i BMW. They did give me the $1000 off for loayaly, dropped the sticker considerably to keep my business. They wanted $5,500 with $576 afer they ran my credit. ed will def. bring my score up, how many on time payments will it take before to bring my score up.
Your insight was helpful and got me prepared for the worst. Thanks again
12-18-2013 08:49 PM
Yes, I qualified for tier 1 leasing. The dealership gave a decent deal considering my auto-enhanced score dropped me to a 610, which was a big disappointment. They pulled Experian. $2500 down, $588 payment for 36 months. Im happy, they are happy. All is well.
12-19-2013 07:09 AM
And after this, you'll have a good auto enhanced I hope =)
|Current: EQ FICO 0, TU FICO 0, EX FICO 0 | Starting Score: 0 (08/21/2013)|
Starting total revolving credit: $0 | Current total revolving credit: $1600.00
Inquiries (12 Months): EQ 3-4 TU Unsure EX Unsure | Most Recent: 8/19/2013
Mechanically Sound Car
|Fifth Third $300|
U.S. Bank Harley Davidson $300
Capital One Platinum $500
2nd Capital One Platinum $500
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.