BMW aside, getting a new car, especially a lease, seems like the wrong play here. Even with a co-signer. I'd finance used and let the credit improve another 6-12 months minimum following our rebuild strategies. Then look at something more expensive maybe and at a better rate. And I'd say the same even if you were looking at a new Kia. 
That is a good start. This will definitely help your score over the next year. As well try and start opening some credit cards and use them responsibly. As far as trying to score a BMW lease a year after a BK would be tough. BMW FS would want to see some auto rebuild in addition to your on time payments from credit cards, unsecured loans, etc.
What are your credit lines like currently? I ask because you’re going to likely need them. You mention having too much money you don’t spend. A BMW will provide all the spending avenues you could ever hope for.
Buying or leasing a new one is smarter than getting an older one, and getting one without a warranty is flat out dumb. They’re amazing in their young years but devolve into steaming, fly-covered piles of you-know-what as the miles add up.
I had my MSport 540i for a little over three years. I do all my own work, have for 20+ years, the majority of which time was spent wrenching on BMW, Audi, VW, and the like. My car came with a huge stack of service records. What the car had had invested in maintenance would’ve paid for a lower-end 3-series new off the lot.
The MSport was a beautiful car for sure, comfortable and fast, amazing handling...and was always multi-broken. There were always at least three issues I was driving around, the car’s V8 consumed 22 ignition coils, it had the famous valley pan coolant drip, CCV failed three times, driveshaft center bearing failed, both engine mounts and both transmission mounts crumbled (leaving the drivetrain seated in the car by the failing diff mount and the grace of God), nav drive took a dump (taking out the screen with it since the screen driver is in the nav drive - used ones online were $700+, new ones were $LOLgetouttahere), power steering pump mounting bracket was built into the PS pump casing and would break off the upper front mount tab, necessitating a whole new pump, and on and on and on. It was almost comical how much of a POS the car was, and it was maintained ahead of schedule to boot. Just unbelievable.
You ready to deal with garbage like that for the privilege of impressing strangers? There are lots of nice cars out there, and there are times and places for them. This fresh from a BK with sub-600 scores is neither the place nor time for a BMW. Good scores, disposable cash, and two other reliable daily drivers that allow a BMW to be a pleasure car a couple times a week is a little closer to the right thing. Or you could repeatedly beat yourself over the head while burning your wallet - same experience.
@Anonymous wrote:What are your credit lines like currently? I ask because you’re going to likely need them. You mention having too much money you don’t spend. A BMW will provide all the spending avenues you could ever hope for.
Buying or leasing a new one is smarter than getting an older one, and getting one without a warranty is flat out dumb. They’re amazing in their young years but devolve into steaming, fly-covered piles of you-know-what as the miles add up.
I had my MSport 540i for a little over three years. I do all my own work, have for 20+ years, the majority of which time was spent wrenching on BMW, Audi, VW, and the like. My car came with a huge stack of service records. What the car had had invested in maintenance would’ve paid for a lower-end 3-series new off the lot.
The MSport was a beautiful car for sure, comfortable and fast, amazing handling...and was always multi-broken. There were always at least three issues I was driving around, the car’s V8 consumed 22 ignition coils, it had the famous valley pan coolant drip, CCV failed three times, driveshaft center bearing failed, both engine mounts and both transmission mounts crumbled (leaving the drivetrain seated in the car by the failing diff mount and the grace of God), nav drive took a dump (taking out the screen with it since the screen driver is in the nav drive - used ones online were $700+, new ones were $LOLgetouttahere), power steering pump mounting bracket was built into the PS pump casing and would break off the upper front mount tab, necessitating a whole new pump, and on and on and on. It was almost comical how much of a POS the car was, and it was maintained ahead of schedule to boot. Just unbelievable.
You ready to deal with garbage like that for the privilege of impressing strangers? There are lots of nice cars out there, and there are times and places for them. This fresh from a BK with sub-600 scores is neither the place nor time for a BMW. Good scores, disposable cash, and two other reliable daily drivers that allow a BMW to be a pleasure car a couple times a week is a little closer to the right thing. Or you could repeatedly beat yourself over the head while burning your wallet - same experience.
This made me laugh so hard because it's spot on. If you don't have a reliable daily, stay away from luxury German cars.
