Auto Lease Pull Ahead Programs

[Scupra]

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@Anonymous wrote:

You can tell the dealer not to run your credit again. If you have successfully made 12 consecutive payments on your lease and never missed a payment, you're already preapproved for your next lease regardless of what you do to your credit. You're next lease will be approved at the same tier you had when you got the first lease. So if your score is worse now..make sure you tell them not to run it again and that you would just like the same tier as before. 

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2nd time you are giving out absolutely wrong advice.. "Pre-approved regardless of what you've done to your credit"? MAYBE this works for Nissan (even though I don't think it does) but it was NOT like that at the end of my Infiniti lease and it is not like that for BMW. be careful giving people incorrect advice. Finding it very odd that Nissan has this magical lease pull ahead and Infiniti got rid of pull ahead and uses loyalty.. Do you have any literature directly from Nissan explaining this pull ahead program that you say everyone qualifies for? Im curious 

[Anonymous]

Oh really well.."BMW will cover up to 6 months of your remaining lease payments when you finance or lease a 2020-2021 BMW or a Certified Pre-Owned BMW. Those with BMW and select non-BMW contract end dates between now through December 31, 2020." "If you have made twelve on time monthly payments for your current lease with BMW, you are then preapproved for your next lease with BMW using the same credit approval as your current lease"

So come on people, learn how to navigate the BMW website! You can't just say that someone doesn't know  what their talking about also....

VRU - A VRU is a pre-approval for another loan or lease based on your history with BMW, and BMW only. Meaning if you had a lease or finance that you never missed a payment on, and was always in perfect standing, you automatically qualify for a new car based on the same tier of credit you bought the last one at. In other words, as long as you don't screw BMW over, they don't give a darn about your credit score, or what else may have happened to it over the last few years. Stay in good standing with your BMW Account, and you will always be pre-approved for the next.

[Anonymous]

They approved me but they want more than what I paid down before. My lease isn't up until May but they are absorbing the payments to get the 2020. 

[Anonymous]

Well this is how the BMW and Nissan dealerships do business around here. Every dealer is different. 
 
I am in the phone with Nissan now, speaking to the sales manager "Emilio" and he says "After you make your 16th payment on a lease, you are eligible for whats called an "early pull ahead". My record is 22 payments remaining completely waived, along with the disposition fee. It came out to $6500 worth of remaining rent just vaporized." 

I guess some people just don't know how to talk when they go into a dealership. Let's say you have a BMW or an Infiniti with anywhere from 6-14 payments remaining. Just walk into the dealership and tell them you've been receiving calls from BMW or Infiniti about early pull ahead and were advised to come down to the dealer and watch what happens! 
Also BMW does not...and I repeat does not run your credit again if you've made timely payments. 

[Scupra]

A pre-approval is not the same thing as being approved and not having to re-run your credit.. case and point, person posting above was forced to submit a credit app. Just because a dealer says they will "cover" your remaining payments does NOT mean they are wiping the debt and not rolling those payments into your new lease. A lease pull ahead program means they CLEAR the remaining payments and DO NOT roll them into the new lease. You are just calling sales people and/or managers and getting a sales pitch over the phone. I don't want any dealer cash, discount OR loyalty being used to absorb my remaining payments - I want that as all my discount towards the car.

I recently leased my BMW at 18% off MSRP pre dealer cash and conquest at buy rate MF. I know how to talk with dealers. You are giving out horribly wrong information and I hope anyone who comes to this thread does their own research. I'm done arguing with a wall who doesn't understand basic car sales tactics.

[sccredit]

Not every account is automatically qualified for preapproval on the next lease/finance with Infiniti. You have to have an actual preapproval on your account, which the dealer can pull up through DealerTrak. I have one sitting in my online account right now with a 12/31 expiration date. We've already decided to buy DW's next car and it won't be a Nissan/Infiniti so it is worthless to me. 

[Scupra]

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@sccredit wrote:

Not every account is automatically qualified for preapproval on the next lease/finance with Infiniti. You have to have an actual preapproval on your account, which the dealer can pull up through DealerTrak. I have one sitting in my online account right now with a 12/31 expiration date. We've already decided to buy DW's next car and it won't be a Nissan/Infiniti so it is worthless to me. 

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Infiniti sent me a pre-approval as well 2 months before my lease ended with a maximum payment amount and an approval number - if I decided to act on it, I would have had to submit a credit app still. 

Reached out to my friend who is the GM of a local Mercedes dealership, not much has changed since I left the game. Still the same old horse and pony show