financing a bmw from dealership

[Anonymous]

Does anyone know which credit reporting agency BMW uses?

I have seen the dealership offering .9% financing.  Does anybody know how difficult that is to get right now and/or what it takes to get in in terms of FICO scores etc?  My FICOs range from 675-698 currently but will improve to some unknown degree in 9-2009.  I won't buy until after that time as my FICO will probably increase by 20pts or more.  Any info would be helpful. 

 I don't need to buy right away but will need to within the next 10 months for sure.  I have a 99 323 to trade in/sell for parts.  It has 170,000+ miles on it and I'm going to drive it until it costs more to repair and maintain than to have a payment and maintain or by Feb. 2010 whichever comes first.  I was by the dealership in Vegas today and they seemed to have ample inventory of certified preowned cars. Vegas is  #1 city for foclosures so there may be a chance there are also a lot of repossed luxury cars around right now.  I don't currently but plan to have between $5,000-$10,000 saved by the time I walk into the dealership.  The salesman seemed pretty eager to have me test drive one that piqued by curiosity today but I declined.  I'd like to be able to call the shots on the day I do buy or when I am more serious/able to buy.  Any advice would be greatly appreciated.  I am female (and blond) which makes car buying a reallly frustrating experience; it can also be more expensive so consumer reports says.   Again, any advice would really be appreciated.  

[GregB]

I  took advantage of BMW low interest 100% financing three years ago and then again last year. It was only available on new vehicles. The last one was 1.9% 100% financing for 5 years but things have gotten tighter lately so I'm sure they are doing better. I can't tell you what credit they pull since as an existing customer an inquiry didn't appear at all. I assume they did a soft inquiry using my existing account. They also didn't have any problem with me keeping both vehicles.

That is interesting that BMW also makes cars.

BTW, did you know that BMW is primarily owned by one woman. And she is blond........

[tonsers]

I just bought my car a month ago, BMW pulled EX at the dealership and approved me, another inquiry showed up on TU when I checked my reports later.  BTW, I'm a blond woman and I received 1.9% for three years.  Oh yeah - my sales"man" was a blond woman too! 

[Takunda1]

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@Anonymous wrote:

Does anyone know which credit reporting agency BMW uses?

I have seen the dealership offering .9% financing.  Does anybody know how difficult that is to get right now and/or what it takes to get in in terms of FICO scores etc?  My FICOs range from 675-698 currently but will improve to some unknown degree in 9-2009.  I won't buy until after that time as my FICO will probably increase by 20pts or more.  Any info would be helpful. 

 I don't need to buy right away but will need to within the next 10 months for sure.  I have a 99 323 to trade in/sell for parts.  It has 170,000+ miles on it and I'm going to drive it until it costs more to repair and maintain than to have a payment and maintain or by Feb. 2010 whichever comes first.  I was by the dealership in Vegas today and they seemed to have ample inventory of certified preowned cars. Vegas is  #1 city for foclosures so there may be a chance there are also a lot of repossed luxury cars around right now.  I don't currently but plan to have between $5,000-$10,000 saved by the time I walk into the dealership.  The salesman seemed pretty eager to have me test drive one that piqued by curiosity today but I declined.  I'd like to be able to call the shots on the day I do buy or when I am more serious/able to buy.  Any advice would be greatly appreciated.  I am female (and blond) which makes car buying a reallly frustrating experience; it can also be more expensive so consumer reports says.   Again, any advice would really be appreciated.  

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Get approved through the BMW Financial website. They only check EQ, so you don't have get hit by 2 or three inq. Also you'll already know how much you are approved for before you go to the dealership. Its almost like going with check in hand. Those .9% offers are also available on their website, and they'll pay your first two car payments.

Let us know how it goes.

[MizzB]

My mom purchased a BMW financed by BMW financial about a week ago. We went to the dealership and the salesman told her she would have to have at least a 680 to get financed through BMW financial.Her scores were approximately 700 and she was approved for a rate of 4.9% on an 2008 5-series. I'm not sure which bureaus they pulled.

[tonsers]

Last month, my dad was told by BMW that qualified for the .9% rate - he has a score of 725.