Showing results for 
Search instead for 
Did you mean: 

BMW Lease Approval ? - 10 years after BK7 (BMW was IIB)

Established Member

BMW Lease Approval ? - 10 years after BK7 (BMW was IIB)

Back in 2009 I was a victim of the great recession, and like so many others I had to file BK7.  At the time I was leasing a BMW, and they were IIB.  However, they told me I was free to continue making payments and keep the car (I had roughly 6 months remaining on the lease).  I recall them being very kind about everything, and never once did they tell me I needed to turn it in, nor did they threaten to get the car.


So, I did just that -- I continued making payments according to the terms of the lease agreement.  I then returned the vehicle when the lease ended, and I recall the dealership making a "hit list" of charges I would be responsible for related to excess wear, etc.  They told me that BMW Financial Services would be sending me a bill (the dealership wasn't aware of the BK), and I think those charges amounted to ~$2k.  However, I never received any bill or collection attempt related to that.


Shortly after my BK, I was very fortunate to find new employment and recover quickly.  Since that BMW, I've purchased and leased other vehicles without issue...  Now that the BK has fallen off and my scores are 800+, I am considering leasing another BMW.


Has anyone else been in a similar situation with BMW and able to lease with them again?  Or does BMW Financial Services "blacklist" the same way AMEX does?    

FICO 8 (as of 3/31/20): EQ 850 - TU 808 - EXP 831
FICO 9 (as of 3/31/20): EQ 850 - TU 836 - EXP 850
Message 1 of 2
Community Leader
Senior Contributor

Re: BMW Lease Approval ? - 10 years after BK7 (BMW was IIB)

I’ve never been in this exact situation, but I would be shocked if you were blacklisted. First off, you’ve been able to get other cars. Second, car dealerships want ANY AND ALL business they can get. Approval is almost never an issue. The terms are the iffy part. Based on what you’ve told us, I think BMW would work with you.


Good luck!

Discover It: 19.7k
Amex ED: 18k
Citi DC: 7.7k
Best Buy Visa: 3k
Once you go Berner, you never go back.
Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.