BMW

[Shawndoe79]

Which bureau does BMW pull for auto loans and which version of the FIco (09, 08, 05, 04, 03, 02)

[Anonymous]

Experian

I was actually approved on Oct 1, can't remember which score but it listed a 708. 

[Shawndoe79]

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@Justagirl73 wrote:

Experian

I was actually approved on Oct 1, can't remember which score but it listed a 708. 

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Ok thanks, my autoscore (704) is actually higher than my Fico 08 (682) thats why Im inquiring

[Anonymous]

Their tier 1 right now is at 2.9. 

When I was approved, it was 0.9 (I did it online at their website). 

Once approved, it's locked in for 2 months + to the end of the cut off month. I just picked up my car on Christmas Eve and got the 0.9. 

You will definitely get tier 1. 

[Shawndoe79]

Ok that's great to know.  Did you get preapproved via online app? Was it a hard pull for the preapproval

[Anonymous]

Yes, but it's not really a preapproval, it is THE approval, so yes, 1 HP. 

Timeline

10-1 approval 1 HP

10-15 ordered car

12-19 (ish) car arrived at dealership

12-23 signed paperwork 

12-24 spent time with genius and car detailed and picked up

There were no more HP.

I haven't verified this, but I'm sure they SP me to make sure nothing crazy happened in those 2 months. 

If you are definitely going to purchase or lease in the next 2 months, I would go ahead a secure the 2.9% by applying now. IF the rate drops, you will get the lower rate. IF the rate goes up, you will be locked into 2.9%.

[Shawndoe79]

Ok thanks for all your help

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[iced]

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@Justagirl73 wrote:

Their tier 1 right now is at 2.9. 

When I was approved, it was 0.9 (I did it online at their website). 

Once approved, it's locked in for 2 months + to the end of the cut off month. I just picked up my car on Christmas Eve and got the 0.9. 

You will definitely get tier 1. 

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Not always. During the 0.9, I bought a CPO BMW and was only given 1.49. The scores they pulled (and showed me) were 775. If that's not tier 1, I don't know what is.

[Anonymous]

I looked at a CPO before placing my order, and it was 1.49. 

Im not expert, but I think that was the best rate for a cpo at that time.