If your credit score is already at or above 700 then even paying down utilization and raising it further is not going to have a significant effect on auto lease rates. I don't know what BMW's promotional cycles are like but I do know on most makes the dealers offer some pretty serious incentives at the end of the year (December) to move out cars before taxes are assessed. At least in California.
You may want to check in with at least one different dealership to see if they can give you even better terms than your current offer.
You were correct but I did get the car. I leased the 2014 528i. $2500 down, payment $588 for 36 months, not the $1500, 576 payment I was anticipating. My score dropped all the down to a 610 with auto-enhanced. I have no car credit, saved and paid cash for last 528i BMW. They did give me the $1000 off for loayaly, dropped the sticker considerably to keep my business. They wanted $5,500 with $576 afer they ran my credit. ed will def. bring my score up, how many on time payments will it take before to bring my score up.
Your insight was helpful and got me prepared for the worst. Thanks again
Yes, I qualified for tier 1 leasing. The dealership gave a decent deal considering my auto-enhanced score dropped me to a 610, which was a big disappointment. They pulled Experian. $2500 down, $588 payment for 36 months. Im happy, they are happy. All is well.
And after this, you'll have a good auto enhanced I hope =)
|Current: EQ FICO 0, TU FICO 0, EX FICO 0 | Starting Score: 0 (08/21/2013)|
Starting total revolving credit: $0 | Current total revolving credit: $1600.00
Inquiries (12 Months): EQ 3-4 TU Unsure EX Unsure | Most Recent: 8/19/2013
Mechanically Sound Car
|Fifth Third $300|
U.S. Bank Harley Davidson $300
Capital One Platinum $500
2nd Capital One Platinum $500