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Established Member
MadMoney
Posts: 16
Registered: ‎11-10-2013
0

Re: BMW Lease New to the forum

I was just approved for a loan with BMW  Finance.  It took less than 15 minutes. They told me they do not pull the auto enhance score.  I am not sure which CBR they pulled and will ask when I go into close the loan.  I will post later. 

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CAnNY
Posts: 297
Registered: ‎02-24-2013
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Re: BMW Lease New to the forum

Sounds like you app'd online. Did you?

i will be app'ing the first half of next year, so this is good info. 

Please update when possible. Thanks!


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Member
mscookie30
Posts: 10
Registered: ‎12-15-2013
0

Re: BMW Lease New to the forum

Yes, auto enhanced will be awesome. Insurance for the lease pretty expensive.
Established Member
MadMoney
Posts: 16
Registered: ‎11-10-2013
0

Re: BMW Lease New to the forum

I did not apply online.  The finance guy took my application and called BMW Financial.  He looked at my application and told me beforehand I would not have a problem getting approved.  One thing that amazed me it they do "stated income" and will only verify your income if they suspect a problem. e.g. poor/low credit score, income does not match type of job etc.  I will going into the dealership after Xmas.  I will ask then and post which CBR company they pulled.

Frequent Contributor
CAnNY
Posts: 297
Registered: ‎02-24-2013
0

Re: BMW Lease New to the forum

@madmoney thanks for the feedback. I'm sure all of us that dream of our 535 xDrive or X5 also thanks you! 

 

Hope you have a Merry Christmas!!


Starting Score: TU 489 EQ 561 EX unknown (2/24/2013)
Current Score: TU 647 EQ 627 EX 607 (7/05/2013) Lender Pulls ; MYFICO (10/11/2013) EQ 719, TU 679, EX 659 ; MYFICO (11/13/13) EQ 702, TU 660, EX 676 ; Lender Pull (11/15/13) EQ 702, TU 679, EX 684
Goal Score: 720


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Established Contributor
coterotie
Posts: 616
Registered: ‎11-30-2012
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Re: BMW Lease New to the forum

I did the online application, they pulled Experian.  However their guarantee of a 24 hour email/decision did not happen.  So I called BMW financial and they said they couldn't do anything and would have to go into the dealer and have them look into the system.  So the regional sales manager has been hammering me by email to come into the local dealership so they could do the financing.  He claims to have no knowledge of how the  BMW financial system works and they couldn't look into it to see if I was approved for the deal I submitted.

 

I did the online system so I could get everything set up and get in and out of the dealership quickly as I had already driven the car I was interested in.  It was one that had a lease "deal" available, I had the loyalty cash and USAA discount.  Put money aside from my trading account so I could write a check.  At this point since they are so clueless, I'm going to punt.

 

Next step is to write BMW financial a letter and have them remove the inquiry from my bureau, since they have "no record" of my application, but I'm stuck with the inquiry.

 

Frequent Contributor
CAnNY
Posts: 297
Registered: ‎02-24-2013
0

Re: BMW Lease New to the forum

@coterotie yeah that sounds odd that your app has gone into limbo. Yeah, writing to them my serve you well. 


Starting Score: TU 489 EQ 561 EX unknown (2/24/2013)
Current Score: TU 647 EQ 627 EX 607 (7/05/2013) Lender Pulls ; MYFICO (10/11/2013) EQ 719, TU 679, EX 659 ; MYFICO (11/13/13) EQ 702, TU 660, EX 676 ; Lender Pull (11/15/13) EQ 702, TU 679, EX 684
Goal Score: 720


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Moderator
09Lexie
Posts: 26,585
Registered: ‎09-13-2012
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Re: BMW Lease New to the forum

[ Edited ]

coterotie wrote:

I did the online application, they pulled Experian.  However their guarantee of a 24 hour email/decision did not happen.  So I called BMW financial and they said they couldn't do anything and would have to go into the dealer and have them look into the system.  So the regional sales manager has been hammering me by email to come into the local dealership so they could do the financing.  He claims to have no knowledge of how the  BMW financial system works and they couldn't look into it to see if I was approved for the deal I submitted.

 

I did the online system so I could get everything set up and get in and out of the dealership quickly as I had already driven the car I was interested in.  It was one that had a lease "deal" available, I had the loyalty cash and USAA discount.  Put money aside from my trading account so I could write a check.  At this point since they are so clueless, I'm going to punt.

 

Next step is to write BMW financial a letter and have them remove the inquiry from my bureau, since they have "no record" of my application, but I'm stuck with the inquiry.

 


Interesting - I arranged a lease for my DH on Friday.  I was going to do everything online ( I've done it before and it was really easy BUT it was during a slow month-May) I called BMWFS cause I read about the 24-48 hour turn around and wanted to pick it up on the weekend. The CSR was extremely nice and suggested apping directly with the dealer since they would know their UW requirements and I wanted to take it home before Wed.  

 

Apped with dealer (they had an online app) I instructed the guy I was working with that I had no time for dilly dallying around and emailed all items he asked for- luckily, it was just a DL and insurance card.

 

In the meantime, my car was being prepped and options installed for delivery.  I strongly suggest that you go through the dealer, it's a very busy time of year and if you have found the car you wanted, you might as well get it before the holiday sale ends. 

 

Needless to say, we were in an out of Finance in 30 minutes. 

Established Contributor
coterotie
Posts: 616
Registered: ‎11-30-2012
0

Re: BMW Lease New to the forum

Thanks for the info.  I might do this, just irritated that they tease you with the online stuff, when in reality you still have to do everything through the dealer.  Makes Cap1 and Santandar look good by comparison.  :smileytongue:

 


09Lexie wrote:

coterotie wrote:

I did the online application, they pulled Experian.  However their guarantee of a 24 hour email/decision did not happen.  So I called BMW financial and they said they couldn't do anything and would have to go into the dealer and have them look into the system.  So the regional sales manager has been hammering me by email to come into the local dealership so they could do the financing.  He claims to have no knowledge of how the  BMW financial system works and they couldn't look into it to see if I was approved for the deal I submitted.

 

I did the online system so I could get everything set up and get in and out of the dealership quickly as I had already driven the car I was interested in.  It was one that had a lease "deal" available, I had the loyalty cash and USAA discount.  Put money aside from my trading account so I could write a check.  At this point since they are so clueless, I'm going to punt.

 

Next step is to write BMW financial a letter and have them remove the inquiry from my bureau, since they have "no record" of my application, but I'm stuck with the inquiry.

 


Interesting - I arranged a lease for my DH on Friday.  I was going to do everything online ( I've done it before and it was really easy BUT it was during a slow month-May) I called BMWFS cause I read about the 24-48 hour turn around and wanted to pick it up on the weekend. The CSR was extremely nice and suggested apping directly with the dealer since they would know their UW requirements and I wanted to take it home before Wed.  

 

Apped with dealer (they had an online app) I instructed the guy I was working with that I had no time for dilly dallying around and emailed all items he asked for- luckily, it was just a DL and insurance card.

 

In the meantime, my car was being prepped and options installed for delivery.  I strongly suggest that you go through the dealer, it's a very busy time of year and if you have found the car you wanted, you might as well get it before the holiday sale ends. 

 

Needless to say, we were in an out of Finance in 30 minutes. 




Established Member
MadMoney
Posts: 16
Registered: ‎11-10-2013
0

Re: BMW Lease New to the forum

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!


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