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BMW 3-Series (E90 E92) Forum
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Credit score?
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08-06-2005, 07:53 AM | #1 |
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Credit score?
Does anyone know how BMW Finance works? I've heard its not tiered, but more of a pass/fail program. If that is the case, does anyone know what minimum score would be needed to lease? I do not know what mine is...i will be checking later on. Thanks!!
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08-06-2005, 04:43 PM | #3 |
If love is the answer,please rephrase the question
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I qualified on my own.. no co-signer, and i have hardly any credit, maybe none haha.. But no credit is better than bad credit. But one reason i qualified was because i was putting alot of money down- so my loan wasnt huge. Or else, i may have not made it.
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08-06-2005, 11:04 PM | #5 |
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My dealer told me anything over 720 is golden...
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08-06-2005, 11:16 PM | #6 |
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leasing and financin are getting confused, leasing is probably not tiered, retail financing is def tiered
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08-07-2005, 12:43 AM | #7 |
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Leasing is pass/fail, and is harder to qualify for than a loan. I had a 710 overall and qualified for leasing. However, I had also had 3 previous car loans (one of which was with BMW) with no late payments.
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10-22-2007, 01:39 PM | #8 |
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I've had a few cars through BMWFS and they wouldnt allow me to complete my last lease.
They said I was overcomitted. What happened was I had two cars that I sold and they were still showing as active accounts on my credit report. BMWFS said that my debt to income ratio was not where they'd like it. The sad part was it was a lease assumption for a Z4 @ $375 a month and 7 months left. I even asked if I could pay it up front ....nope I have a great credit score but I couldnt prove ALL of my income - only some of it
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