topic Re: BMW Financial Services? in Auto Loans

BMW Financial Services?

Creditplz — Thu, 02 Jun 2016 04:58:45 GMT

Has anyone had experienced with BMW F.S? I'm looking into leasing a M4 soon

Re: BMW Financial Services?

waynes1982 — Thu, 02 Jun 2016 14:17:35 GMT

I've had the following cars all financed with BMW Financial Services: 2008 BMW 128i 2010 BMW 328i X-Drive 2012 BMW 528i X-Drive 2013 BMW X3 35i X-Drive 2015 BMW X5 35i X-Drive 2016 BMW X5 35i X-Drive M-Sport What would you like to know????

Re: BMW Financial Services?

Creditplz — Thu, 02 Jun 2016 16:02:42 GMT

Are their rates reasonable for Tier 1??. And anything I should know??

Re: BMW Financial Services?

waynes1982 — Thu, 02 Jun 2016 16:19:40 GMT

@Creditplz wrote:
Are their rates reasonable for Tier 1??. And anything I should know??

The rates right now are 2.99% for most of their cars except the i series cars, those are 0.9%. I've never had any issues or required poi or anything at all from them, I've walked in negotiated and walked out with the car the same day usually. My current X5 I ordered so couldn't really do that but it's always been a hassle free experience for me. Now I did just lease a Toyota Camry from another dealership, and it was the complete opposite, IDK if it was the dealership or Toyota, but I probably won't be doing business what that dealership or Toyota again when the lease is up.

Re: BMW Financial Services?

Creditplz — Thu, 02 Jun 2016 16:42:20 GMT

Hmm that sounds good! and i won't do any business with Nissan or Toyota.. They were my first cars way back when I was in high school... And they always broke on me..

Re: BMW Financial Services?

waynes1982 — Thu, 02 Jun 2016 18:22:46 GMT

@Creditplz wrote:
Hmm that sounds good! and i won't do any business with Nissan or Toyota.. They were my first cars way back when I was in high school... And they always broke on me..

We needed another car, and Toyota was offering some really good deals on leases, so I opted for the Camry. I don't mind driving it, but love my X5 so much better. With BMW's everything is an option, so watch out because they add up fast lol.

I went from $57,000 all the way to $73,000 with just a few options lol.

What are you thinking of getting?

If I can recommend one option to you, get the LED option package! I opted for them, and then read up on how to "Code" them to fully enable all the features, I've never regreted spending the $1,900 for them!

Re: BMW Financial Services?

impactplayer — Thu, 02 Jun 2016 20:09:37 GMT

Back in 2010, I got my CPO 335i for 1.9% interest. I was 25 and didn't have much credit experience other than my student loans. They didn't require any documentation. They seem pretty good and easy to me.

Re: BMW Financial Services?

Anonymous — Fri, 03 Jun 2016 06:36:15 GMT

@Creditplz wrote:
Hmm that sounds good! and i won't do any business with Nissan or Toyota.. They were my first cars way back when I was in high school... And they always broke on me..

Tell me about it. I just picked up a brand new Toyota Highlander yesterday. Took it was driving home on freeway for maybe 5 miles. ABS light on... Traction light on... Skid light on... Brake light on and the "check AWD system" warning on. Now that car back at dealership in service department

OP get the M4 u will love it. I love mine. I paid 96k for mine fully loaded (convertible too)

Re: BMW Financial Services?

Ariel — Fri, 03 Jun 2016 12:20:37 GMT

Anyone know which FICO score variant they pull (and which bureau they look at?) Also, what score do they consider their top tier? Thinking of buying one in September.

Re: BMW Financial Services?

waynes1982 — Fri, 03 Jun 2016 13:03:47 GMT

@Ariel wrote:
Anyone know which FICO score variant they pull (and which bureau they look at?) Also, what score do they consider their top tier? Thinking of buying one in September.

I believe they pulled Experian for me when I was there, not sure what version though

Re: BMW Financial Services?

ddk369 — Sat, 04 Jun 2016 03:05:52 GMT

I want to do this too. I do have a current lease from BMW FS, my 328XI sport, which will be up in 07/17, with pull ahead by end of year. but looking into a 340i or base M3. Credit score is currently in the 710 range, so dropped a little bit from when I got my 328XI (around 740s) hope to clear it back up to that level. I have had 3 car loans, all in good standing, 1 paid off, 2 currently paying (the bmw lease, and my mustang).

Re: BMW Financial Services?

B335is — Sat, 04 Jun 2016 03:03:37 GMT

They EX for me last week. The Finance Manager said anything over 680 is tier 1. Although he looked at me funny when I asked what version they use. No POI either, really painless deal.

Re: BMW Financial Services?

B335is — Sat, 04 Jun 2016 03:04:47 GMT

DDK, when they identify you as a current BMW lesee in good standing you'll have no problem.

Re: BMW Financial Services?

ddk369 — Sat, 04 Jun 2016 03:08:14 GMT

Thanks, am hoping to get the lowest MF. I need to get the M3 payment within the 700-750 range otherwise it will be out of my budget. I might put money down since if I get the M3, I will try to buy it out after lease.

Re: BMW Financial Services?

Creditplz — Sat, 04 Jun 2016 03:10:52 GMT

I went to Porsche today and the sales rep tried "bait & switch" on me so I left.. I'll stick to the M4 I want, my EX Auto Enhanced Score from Myfico is 708 .

Re: BMW Financial Services?

Anonymous — Sat, 04 Jun 2016 03:18:57 GMT

They pull Experian Fico Auto Score 2. However, the Dealership guy said they can pull all three and take the highest one. I think he was lying? IDK. Anyway, GL

Re: BMW Financial Services?

B335is — Sat, 04 Jun 2016 07:40:05 GMT

DDK are you looking at a new M3 or used? I was torn between a new M4 and and M3. It came down to the wheels and the M4 was about $1500 less. FYI, just to lease with no down payment it was over $1k/month

Re: BMW Financial Services?

B335is — Sat, 04 Jun 2016 07:41:07 GMT

@Anonymous wrote:
They pull Experian Fico Auto Score 2. However, the Dealership guy said they can pull all three and take the highest one. I think he was lying? IDK. Anyway, GL

My Dealer told me the same thing. Interesting I don't see a TU pull however.

Re: BMW Financial Services?

Creditplz — Sat, 04 Jun 2016 08:24:03 GMT

I was told the same thing at Porsche.. I'll go in on Monday before I go into my office and take one for a spin.. If the numbers feel right I might even pull the trigger !

Re: BMW Financial Services?

ddk369 — Sat, 04 Jun 2016 13:51:29 GMT

Ideally, brand new. I just want a base M3/M4, 19" wheels, DCT, MG, and back up camera. Considering the ZCP, but I don't want 20" wheels. I am willing to put maximum MSDs, and put money down, since I would like to keep this car after the lease (i.e. leasing to purchase). Would it be wise to put up 10K in down payment + MSDs to get the monthly payment down?

I am also considering buying an E92 M3 and saving the money. The E92 M3 was really my attainable dream car for the last 8 years.

My income is about 82K, i live in MI (might purchase the car in NJ since that's where my previous purchase was), I have my mustang car loan (20K), and about 6K in student loans. 5K in credit card debt (will be down to 0-2K when I purchase the car)