topic Re: can i get a lease from BMW? in Auto Loans

can i get a lease from BMW?

MikeRebuild — Thu, 11 Sep 2014 16:13:06 GMT

I have a FICO score of 687. I have 4k total CL. I have a BK from 2009 and federal tax lien from 2011 which i am trying to get withdrawn. I have not missed a payment in 4.4 years. My credit score was 640 after the BK in 2009 but now i have gotten it up to 687. I currently have a lease with Hyundai for 475 a month which will run out in january (yes, i really got a raw deal, but i wanted a car)

i am going to try and get a lease with BMW. I hear they can be picky.

Any thoughts would be most appreciated

Re: can i get a lease from BMW?

sccredit — Thu, 11 Sep 2014 17:04:23 GMT

My bet is that you would be fine.

Re: can i get a lease from BMW?

09Lexie — Sat, 13 Sep 2014 01:31:09 GMT

BMWFS goes by your autoenhanced FICO 8 score. For the best terms, you'll need a 675. I can't recall the breakdown for the second tier.

Re: can i get a lease from BMW?

TheStig — Sat, 13 Sep 2014 20:57:40 GMT

600 or less is called progressive plus
601-639 is Progressive
640-674 is standard plus
675 or more is super elite

BMW FS uses the Experian Credit score.

you should not have a problem. Good luck!

Re: can i get a lease from BMW?

zkder — Sun, 14 Sep 2014 18:10:25 GMT

What's troubling is that, folks like me, who do their best, save and work hard...we don't get to lease a new BMW. But maybe I should just go into super debt, declare BK, then ball out later with all new goodies. Must be nice.

Re: can i get a lease from BMW?

MikeRebuild — Sun, 14 Sep 2014 19:49:11 GMT

@zkder wrote:
What's troubling is that, folks like me, who do their best, save and work hard...we don't get to lease a new BMW. But maybe I should just go into super debt, declare BK, then ball out later with all new goodies. Must be nice.

you know what zkder,

if that comment was made anywhere but this forum, i would call it ignorant. in this forum, its just beligerent to say that

thats not a cool comment with me.

Re: can i get a lease from BMW?

0REDSOX7 — Sun, 14 Sep 2014 19:56:40 GMT

What's wrong with those who use the law to get a fresh start?

Re: can i get a lease from BMW?

pizzadude — Sun, 14 Sep 2014 20:14:50 GMT

Re: can i get a lease from BMW?

Anonymous — Sun, 14 Sep 2014 20:30:35 GMT

I understand where you're coming from. But BK is available for anyone. So it's fair.

Re: can i get a lease from BMW?

CreditDrama85 — Sun, 14 Sep 2014 21:28:17 GMT

zkder, i hope you know that was a really ignorant judgmental comment.

i have never filed BK but would not hesitate if i needed to. BK is a legal financial tool. You have no idea why OP filed for BK, but go on assuming whatever and while you do OP will be cruising around in their BMW

Re: can i get a lease from BMW?

Anonymous — Tue, 16 Sep 2014 17:03:18 GMT

@Anonymous wrote:
I understand where you're coming from. But BK is available for anyone. So it's fair.

not because something is law is fair, bk is for people that income is reduce or cut and cannot afford to paid bills anymore, is not for you to go buy 100k on credit and later file bk that is call abusing the law and just because you cannot get prosecuted for that it is still theft

Re: can i get a lease from BMW?

09Lexie — Tue, 16 Sep 2014 20:06:52 GMT

Before this thread gets out of hand, let's remember that the OP did not ask about the pros/cons of filing bk.

Please keep the responses on topic.

Lexie, myFICO Moderator

eta; For the record, I have a dismissed Ch 13 filed in 04 and have two BMWs leased with BMWFS.