Will I qualify with BMW financial services with my current credit score?

[iced]

---

@Anonymous wrote:
Thank you. I can put 20-25% down. No problem there. I was thinking to get pre-approval from FCU and then go but then wouldn’t their hard pull further reduce my score. Moreover, I will get $2000 rebate for financing with BMW (i can always refinance after 3 months) Is it okay to request the bmw to look at the highest Fico auto score?

---

If your motivation to finance is the $2,000 rebate, be sure that the total interest over the life of the loan is less than what you'd get parking the money in savings plus $2,000; otherwise, you're better off just paying cash for the car. Unless you get around a 1% rate, it's quite easy to pay more than $2,000 in interest over the life of the financing. I also personally wouldn't accept a rate over 2.5% with the direction interest rates are going - any higher is going to be a net loss for you over the life of the loan. 

My experience with BMW financing is that they pull multiple bureaus and aren't going to let you cherry pick which one they go with. That said, they tend to approve anyone with a pulse, though not always at their best rate.

[Anonymous]

thank you for your response. the dealer told me you can finance for the minimum period required to get the rebate (which is 6 months) and then refinance at lower rate with Credit Union. I am still waiting to hear back from the BMWFS to see if they would even approve. They denied based on Fico 8 score. I told them to look at my Auto Score which is 681 and they said they will see what they can do. Initially, they pulled only Experian and after my request they pulled Equifax and TU. I got alerts on myfico.