12-14-2013, 04:17 PM | #1 |
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What is my chance with BMW Finance??
I want to lease and do ED on upcoming M4, and wanted to know how hard is BMWFS with ones credit score. I have zero negative on my file, and in past 12 years I have financed cars through GMAC, Acura finance, BOA, local credit union twice, Lexus FS three times and my current lease is also with LFS. So my scores are low (low 600s), coz i had to put everything on plastic due to family emergency. Income is close to six figs, so what you guys think are my chance with BMWFS? Thanks in advance.
Last edited by m20e3087; 12-14-2013 at 04:23 PM.. |
12-14-2013, 05:22 PM | #3 |
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12-14-2013, 08:12 PM | #4 |
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Low 600s I would guess you would have a hard time with leasing through BMW financial. The income should help out though. Might have to finance it and go with a bank with higher interest rate. You could always sell the car in 3 years and be in a similar situation to a lease.
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12-15-2013, 04:39 PM | #6 |
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You can purchase and get promo rates with low 600's...leasing im not so sure. but remember there is AUTO FICO that is a different score completely.
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12-28-2013, 09:39 PM | #7 |
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9 cars in 12 years and less than six figure income- wonder why you were not ready for emergency- you need to buy a nice Honda and keep it for 10 years!
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12-29-2013, 02:32 AM | #8 | |
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12-29-2013, 07:07 AM | #9 |
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It shows lending the Op money is not a sound long-term investment so the bank must charge higher interest rates to ensure a good chance of positive return on capital.
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12-29-2013, 10:32 AM | #10 |
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BMW won't lease to you but I am sure you can find someone to lend you money. My question is how will you afford a 1000 a month in payments with 100k salary?
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12-29-2013, 04:11 PM | #11 | |
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12-29-2013, 05:51 PM | #12 |
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I would think you would have a very good chance, however the interest may be just a little higher. You have shown a history of successful car loans. That is a big metric for them. They will consider your other debts as well though.
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12-29-2013, 10:10 PM | #13 |
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Geez man where is everyone's priority in life? After taxes your left with dick in your hands and now dish out 12k a year not including taxes? I guess to each their own.
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12-29-2013, 10:15 PM | #14 | |
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12-30-2013, 07:51 AM | #15 |
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Amazingly high living cost? How did you get that from my post? As I said, to each their own and enjoy your life and if car is happiness then so be it.
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12-30-2013, 10:22 AM | #16 | |
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12-30-2013, 10:38 AM | #17 | |
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Keep in mind, that the rate changes based on the Credit Score. 675 or greater no change 640-674: + 1% or + .00020 601-639: +2% or + .00040 600-575: +3% or + .00060 Hope this helps. |
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12-30-2013, 11:55 AM | #18 | ||
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12-30-2013, 12:48 PM | #19 |
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Thanks for the info
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12-30-2013, 12:53 PM | #20 |
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Just got back form vacation and saw these replies, @jeff4598 what can I say I am in love with new cars, however I do own a 87 325IS which I bought 07. Living cost in NC is very reasonable, as long as your not over spending on your mortgage.
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12-30-2013, 01:04 PM | #21 | |
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Now will it stay the same or change for 2014, I have no Idea. But it's been the same since last year. Good luck with your group Last edited by BarlasaM; 12-30-2013 at 01:18 PM.. |
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