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Posts: 52
Registered: ‎01-19-2017
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Re: BMW Lease - Seeking Help!

 

Justagirl73 wrote:

Your welcome! I can't remember exactly......I posted my score in the auto approvals around 12-24-16 (picked car up on xmas eve). My score did qualify me for the best rate. Good luck! 

 

Score was 708.


Big help. Thanks!

Valued Contributor
Posts: 1,616
Registered: ‎12-16-2014

Re: BMW Lease - Seeking Help!

BMW Financial Services uses Experian only and 670 will qualify you for their top tier.  They are very easy to lease with. 

Gardening till 2018, Goal of 700's by the end of 2017
MyFico Scores Aug 2017: EQ 675 TU 695 EXP 698
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Re: BMW Lease - Seeking Help!


workingfor850 wrote:

BMW Financial Services uses Experian only and 670 will qualify you for their top tier.  They are very easy to lease with. 


Great! That's exactly what I wanted to confirm. Thank you!

 

With my score being a 697, it shouldn't be too difficult to qualify for their best rate I imagine, hopefully.

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Re: BMW Lease - Seeking Help!


dogz1189 wrote:

workingfor850 wrote:

BMW Financial Services uses Experian only and 670 will qualify you for their top tier.  They are very easy to lease with. 


Great! That's exactly what I wanted to confirm. Thank you!

 

With my score being a 697, it shouldn't be too difficult to qualify for their best rate I imagine, hopefully.


Just a caution, once you drive a BMW its tough to desire any other car.  I bought my first one 10 years ago and have no intention of buying anything else.

Gardening till 2018, Goal of 700's by the end of 2017
MyFico Scores Aug 2017: EQ 675 TU 695 EXP 698
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Re: BMW Lease - Seeking Help!


workingfor850 wrote:

BMW Financial Services uses Experian only and 670 will qualify you for their top tier.  They are very easy to lease with. 


Which version of Experian do they use?

Valued Contributor
Posts: 1,616
Registered: ‎12-16-2014

Re: BMW Lease - Seeking Help!


Irish80 wrote:

workingfor850 wrote:

BMW Financial Services uses Experian only and 670 will qualify you for their top tier.  They are very easy to lease with. 


Which version of Experian do they use?


Fico Auto 8

Gardening till 2018, Goal of 700's by the end of 2017
MyFico Scores Aug 2017: EQ 675 TU 695 EXP 698
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Posts: 15,419
Registered: ‎10-07-2014
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Re: BMW Lease - Seeking Help!


workingfor850 wrote:

Irish80 wrote:

workingfor850 wrote:

BMW Financial Services uses Experian only and 670 will qualify you for their top tier.  They are very easy to lease with. 


Which version of Experian do they use?


Fico Auto 8


Great. Much better for me.  Thanks!  Now narrowing down which 5 series I can afford

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Super Contributor
Posts: 14,224
Registered: ‎04-16-2014

Re: BMW Lease - Seeking Help!


Irish80 wrote:

workingfor850 wrote:

Irish80 wrote:

workingfor850 wrote:

BMW Financial Services uses Experian only and 670 will qualify you for their top tier.  They are very easy to lease with. 


Which version of Experian do they use?


Fico Auto 8


Great. Much better for me.  Thanks!  Now narrowing down which 5 series I can afford


M5 geeze. Smiley Tongue

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Registered: ‎03-04-2017
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Re: BMW Lease - Seeking Help!

I think, your score is great enough to get the best rate for leasing. In my case, I used to search it online before I decided to choose the best dealer. I can say that it is hard enough to find for the best, but through searching, you can find great and trusted dealer. There are some cases also that their offer are nearly the same, but, some of them will become your best choice. That's what I have done in my newly leased 2017 BMW X1. I ended up choosing DSR Leasing because I think that was my best choice. So, good luck to you!

“Life is like riding a bicycle. To keep your balance, you must keep moving.” ― Albert Einstein
Regular Contributor
Posts: 132
Registered: ‎07-13-2012
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Re: BMW Lease - Seeking Help!

I applied for my BMW 430i online and within an hour got a call from my local dealership asking if I was ready to stop in and test drive. Once I arrived there, I was told that my approval was their "super elite" level or first tier. My scores were all well over 700 at the time, so I sort of expected that to be the case. 

 

You can either apply online or you can wait and apply at the dealership. For me, I would have just applied at the dealer because my dealer ended up submitting another app on my behalf and therefore I had two hard inquiries. Not sure what their rationale was for this, but that was my experience. 

 

The dealership is likely to push hard for a down payment and for you to pay all your taxes and fees that day. For me, I did not want to put cash down on a lease, because if I ever get into an accident, that cash is never coming back to me.

 

Your biggest hurdle is going to be the 3 late payments. That may hurt your chances of top tier leasing. 

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