Credit score? - BMW 3-Series (E90 E92) Forum

Dvd2000g · 08-06-2005, 08:53 AM

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!!

Vegas Steve · 08-06-2005, 05:00 PM

I was told by my dealer you need a 650 to qualify. As long as you have that score, your in. No tiers.

BellasBmw · 08-06-2005, 05:43 PM

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.

Ed_330i · 08-06-2005, 05:51 PM

its a tier system.

your credit score will affect the interest rate you will get.

bzzbenz · 08-07-2005, 12:04 AM

My dealer told me anything over 720 is golden...

dmbigs · 08-07-2005, 12:16 AM

leasing and financin are getting confused, leasing is probably not tiered, retail financing is def tiered

tim916 · 08-07-2005, 01:43 AM

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.

valdeztke · 10-22-2007, 02:39 PM

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

08-06-2005, 08:53 AM	#1
Dvd2000g New Member Drives: E92 328 Coupe Join Date: Jul 2005 Location: Central Jersey Posts: 26 iTrader: (0)	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, 05:43 PM	#3
BellasBmw If love is the answer,please rephrase the question Drives: Tit Silver 325i Join Date: Jul 2005 Location: San Diego, Ca Posts: 1,748 iTrader: (1) Garage List 2006 325i [0.00]	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. __________________ ~~BellasBmw~~ Proud mama to 325i/TiAg/Black lette/Pwr seats/Sirius/Sport/Walnut/Step/Xenons/Chrome exhaust/20% tint

08-07-2005, 12:04 AM	#5
bzzbenz First Lieutenant Drives: 2011 E93 Join Date: Apr 2005 Location: Orange County Posts: 368 iTrader: (0)	My dealer told me anything over 720 is golden... __________________ \| 2006 325i \| Jet Black \| Black ette \| 6spd manual\| Nav \| Xenon \| Burl \| Chrome Tips \| 545 sport wheels \| Blacklines\| \|DOB 6/2/05\|Delivered 7/14/05 \|

08-07-2005, 12:16 AM	#6
dmbigs Private Drives: AW 335i Join Date: May 2005 Location: New York Posts: 61 iTrader: (0)	leasing and financin are getting confused, leasing is probably not tiered, retail financing is def tiered __________________ 06 Silver 330i, black leather, sport and premium

08-07-2005, 01:43 AM	#7
tim916 Second Lieutenant Drives: E90 325i Join Date: Apr 2005 Location: RI Posts: 114 iTrader: (0) Garage List 2006 325i [0.00]	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. __________________ 2006 325i - Jet Black / Black 'ette / Alum / SP / Nav / Logic 7 / Sirius / Xenon / Heated Seats / 18" BBS RC

08-06-2005, 05:00 PM	#2
Vegas Steve New Member Drives: 2006 325i Join Date: Jun 2005 Location: Las Vegas Posts: 13 iTrader: (0)	I was told by my dealer you need a 650 to qualify. As long as you have that score, your in. No tiers.

08-06-2005, 05:51 PM	#4
Ed_330i Captain Drives: 2006 330i Join Date: Jul 2005 Location: North America Posts: 522 iTrader: (0)	its a tier system. your credit score will affect the interest rate you will get.

10-22-2007, 02:39 PM	#8
valdeztke Lieutenant Drives: 2008 GTI Join Date: May 2006 Location: Virginia Posts: 455 iTrader: (0)	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