BMW Lease With 680 score...

[Andy77]

I wanted to know if you have been approved or you think I could get approved for a BMW lease (2013 335i coupe) 55k MSRP

I have a 4 yr old discharged bk

No debt

Fico around 680

Put down around 10K on the lease

[cybarra2003]

I recently apped at BMW and was approved with a 677 for a 2012 335i coupe. msrp was 56k and dealer was selling for 49.8k. That was with a current auto loan reporting. As with all things, its dependent on income and current obligations. I ended up going acura instead but as long as income and score are there it should be an easy process.

[Anonymous]

Don't put money down on a lease just to get approved. If you total the car (or someone else hits you) the gap payoff goes to the finance company-- you never get that money back. Never put more than first and security into a lease.

[Cellice]

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@Anonymous wrote:

Don't put money down on a lease just to get approved. If you total the car (or someone else hits you) the gap payoff goes to the finance company-- you never get that money back. Never put more than first and security into a lease.

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I cannot agree with this advise more. If you are in a state that charges tax on the entire price of the car its okay to pay that upfront. For my recent lease I paid all the fees, taxes and my 1st payment upfront.

If you want to lower the payments you can put down upto 7 security deposits on your lease. This will lower the interest rate quite a bit. The good thing about security deposits are you get them back at the end of the lease. The downpayment you will never see again.