Approved BMW 335D lease through BMW

[ngerasimatos]

Fully loaded 335D with EVERY option including aftermarket wheels (pricey), plus also added window tint, floor mats, and extended tire warranty. Leased for 36 months, 15k miles annually. Financed through BMW Financial without any issues, no verification of employment or income verification required. Pulled EX FICO and was 710 at the time of approval. 

TOTAL GROSS CAPITALIZED COST = $64K 

LEASE TERM = 36 MONTHS 

DOWN PAYMENT = $0.00

 TOTAL MONTHLY PAYMENT WITH TAX - $1190

[Anonymous]

Congrats and perfect timing

DO you have a prev auto loan history and was the score auto enhanced or regular FICO?

( I am getting ready to try and lease a 335 convert 3 year 15k they advertise here for around 530 month with 4500 down)

My Tu FICO is 749, Eq FICO is 755 and my fako ex is 728 with no auto history reporting and zero bad accounts.

I was shocked the D lease was that much! That is the same as the 650 convert here in Miami!

[ngerasimatos]

3 previous auto loans, all of which perfect payment history. Since the score was pulled through EX it was not auto enhanced, however I was told y the dealer than BMW will rotate between EQ and EX, depending on the location of purchase. His understanding was in CA they prefer EX. 

The lease could be much less, however I wanted every option. LITERALLY. I got everything from Navigation, heated seats, automatic high-beams, parking sensors, split fold down seats, leather, alum trim, M-Package, etc. If you go to the BMW website and just start checking every option available you can easily end up at 60+ without much work. 

Then, tag on my 20" wheels, that are 3-piece and tires (7k), window tint, lojack, and floor mats and you can see where I ended up. lol

[ngerasimatos]

Forgot to mention, I am sure some people here are wondering why I didn't just go with a M3 or perhaps a 6 series, etc The IRS has an ECO credit for diesel powered cars, plus I am a huge advocate of going green. I wanted something nice, eco friendly, that got amazing gas mileage (not a hybrid) that also would not raise my auto insurance 400%. I looked at a M3, my auto insurance literally was going to raise from $144 monthly (335D cost) to $393 monthly. That coupled with the MPG loss, and no ECO credit. Seemed all like a losing combination to me.

[Anonymous]

 Got it. How do you get a tax credit on a leased vehicle?

[ngerasimatos]

I use it for business.

[daisyduke]

Congrats on your new car - nice wheels!!

[marty56]

The 335 is on my short list for my retirement car which I will lease.  Lucky dog.

[ngerasimatos]

Snapped a pic when coming back from lunch

http://img203.imageshack.us/img203/6230/img00015201006251126.jpg

I cant wait to get the new wheels put on this week! :-)

[m3v8]

Congrats! This 335d has more torque than the M3! I have leased 335i before, from '07 to '10, and it was an awesome car! It sure did drive like a $100k car, but was only $50k out the door back in '07. My lease deal back then was MSRP $47k - $10k Cap Cost Reduction (down payment) = $37k, 36 months lease, 12k miles/year, $437/month. Anyways, it is too bad I was late 6 times out of 36 payments... such low monthly payment, and I managed to get late... don't know if BMWFS will ever forgive that.

I am currently shopping for a new BMW lease, but times have changed in last 3 years. What income do I need to show on BMWFS credit app to be able to obtain a lease for $1000 a month? Is it gross income they calculate for affordability or a net income? So, if the guideline for car loan affordabilty is,- car payment should be 10% of monthly income, then income should be $10,000 gross, or $120,000 + is what they want to see on credit app at BMWFS?

Thanks for input!