Odds of BMW Financial Services Approval?

[peasandcarrots]

Looking to buy a new BMW and use BMW Financial. Does anyone know their preferred DTI with paying down more than 50%? Will they approve with the info below?

Credit Scores: FICO 8: 850 (EQ), 842 (TU), 850 (EX); Auto Score 8: 883 (EQ), 868 (TU), 878 (EX)

AAoA: 11+ yrs

# of positive trade lines: 26 ("excellent" mix of revolving, mortgage and installment loans)

# of negative trade lines: 0

Income: 105K

Lenght of Employment: 3 years

Previous Loan Experience: most recent was 72 month 30K auto loan paid off in less than 3yrs; 6 year mortgage history

Debt-to-Income (DTI): 39% without the car loan, 48% with a 60 month loan, 47% with a 72 month loan

Year of Car: new

Miles: N/A

Purchase/Refinance: purchase

Requested loan term (XX Months): 60-72 months; I prefer to keep payments low and pay off early at my discretion

Down payment amount: ~$50-53k

Co-borrower/Co-Signer: none

Other: I have a partner who works and had good credit and low debt but wanting to keep them off the loan. Because of their income our household income is much higher and, I'm comfortable with the higher personal DTI, but I'm not sure if BMW will be. The monthly payment will be less than 10% of my monthly gross.

[cashorcharge]

Based on your given details, you will not have a problem getting a BMWFS approval

[Sikilla]

It would have been easier just saying, "look at my great credit score" nice flex 

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@peasandcarrots wrote:

Looking to buy a new BMW and use BMW Financial. Does anyone know their preferred DTI with paying down more than 50%? Will they approve with the info below?

Credit Scores: FICO 8: 850 (EQ), 842 (TU), 850 (EX); Auto Score 8: 883 (EQ), 868 (TU), 878 (EX)

AAoA: 11+ yrs

# of positive trade lines: 26 ("excellent" mix of revolving, mortgage and installment loans)

# of negative trade lines: 0

Income: 105K

Lenght of Employment: 3 years

Previous Loan Experience: most recent was 72 month 30K auto loan paid off in less than 3yrs; 6 year mortgage history

Debt-to-Income (DTI): 39% without the car loan, 48% with a 60 month loan, 47% with a 72 month loan

Year of Car: new

Miles: N/A

Purchase/Refinance: purchase

Requested loan term (XX Months): 60-72 months; I prefer to keep payments low and pay off early at my discretion

Down payment amount: ~$50-53k

Co-borrower/Co-Signer: none

Other: I have a partner who works and had good credit and low debt but wanting to keep them off the loan. Because of their income our household income is much higher and, I'm comfortable with the higher personal DTI, but I'm not sure if BMW will be. The monthly payment will be less than 10% of my monthly gross.

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[peasandcarrots]

Thanks for your input. I'm so nervous when I apply for credit.

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@cashorcharge wrote:

Based on your given details, you will not have a problem getting a BMWFS approval

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[FISHintheTank]

I don't think you'll have a problem getting approved with that scores.  BMW Financial is very easy. I drove 4 BMWs in the past 6 years. All financed/lease through them. Good luck.