|
|
|
|
|
|
BMW Garage | BMW Meets | Register | Today's Posts | Search |
|
BMW 3-Series (E90 E92) Forum
>
Bank not accepting my lease sofar
|
|
02-25-2007, 08:50 PM | #23 | |
New Member
5
Rep 17
Posts |
Quote:
Knowing this, I moved enough cash for the total 3 year lease into a money market account. They can't really take my word for it though. |
|
Appreciate
0
|
02-25-2007, 08:51 PM | #24 | |
Colonel
335
Rep 2,385
Posts |
Quote:
__________________
retired 06 E90 325i New: 09 VW Platinum Grey Jetta Sportwagen 2.0T SEL w/DSG, panoramic sunroof and Ipod adapter |
|
Appreciate
0
|
02-25-2007, 08:55 PM | #25 | |
Brigadier General
89
Rep 3,011
Posts |
Quote:
I have to agree with Bav19. I know it makes me sound old, but maybe you should stick with the Jetta and save up the "good money" you're making in investments.
__________________
"Teach the ignorant. Ignore the stupid."
|
|
Appreciate
0
|
02-25-2007, 08:57 PM | #26 |
First Lieutenant
18
Rep 392
Posts |
Or....
You can buy my 2006 330i with 3200 miles for a WHOLE LOT less!
I'm about 50 minutes North of Boston- let me know if you have any interest. Yes I know, a shameless plug! |
Appreciate
0
|
02-25-2007, 08:57 PM | #27 |
Brigadier General
89
Rep 3,011
Posts |
you should get that picture of Gordon Gecko for your avatar...
__________________
"Teach the ignorant. Ignore the stupid."
|
Appreciate
0
|
02-25-2007, 09:04 PM | #28 |
New Member
5
Rep 17
Posts |
|
Appreciate
0
|
02-25-2007, 09:04 PM | #29 | |
General
517
Rep 18,858
Posts |
Quote:
Nothing wrong with saving up a few bucks. There are more important things to buy like a house that you really should start to save up a few dollars for. Living with a 'rented' car and only having a few extra dollars each month leaves you pretty much empty handed at the end of your lease. You dont have anything of value to show for your payments, and you certainly have not saved up much money... By the way... The only reason why I am able to afford a BMW is because I bought a house, and I have roomates that pay my mortgage. I have a decent paying job, so I have the opportunity to do well for myself. Set yourself up for financial success. Dont live paycheck to paycheck just to drive a BMW... |
|
Appreciate
0
|
02-25-2007, 09:23 PM | #30 |
Commander in Chief
37
Rep 1,034
Posts |
I agree with many others that you should consider holding off on the car purchase (lease) at this time. More importantly, you should really check out your credit reports and look into the real reason for your credit score. A score in the low 600's will result in you being approved at high interest rates, or declined (as you have already noticed).
Even with a short history, you should have a much higher score. Scores in the low 600's usually equate to late payments or collection accounts. Keep in mind, reports often have inaccuracies. But you will never know until you find out for yourself. Once your report is cleaned up, when you are in a better financial situation, you will have a better chance of being approved at desirable rates.
__________________
2008 BMW 535i Space Gray, Black Leather, Dark Bamboo Trim| Sport Automatic with Paddles | Sport Package
2008 BMW M5 (gone, but not forgotten) Space Gray, Silverstone Merino Leather, Madeira Walnut Wood Trim | 7speed SMG | All options Mods: Corsa Exhaust | RPI Ram Air Intake | H&R Sport Springs | Rogue Engineering 12mm spacers |
Appreciate
0
|
02-25-2007, 09:34 PM | #31 | |
Lieutenant Colonel
95
Rep 1,614
Posts |
Quote:
Not doubting your story, but something is definitely up with your credit score. As CnoteMD suggested above, it's likely with a score that low that there is collections activity on your report. My mortgage broker told me a story about someone who couldn't get approved because of late payment charges from Rogers Video (Canadian video rental outfit) that were sent to collections. Get a copy of your credit report and find out what's going on.
__________________
2019 G05 40i (premium excellence, m-sport, 2VR), Tesla Model S 100D, Nissan Leaf SL
Volvo XC90 T8, Subaru Outback, E84 X1 28i, E91 328i xdrive, 6MT, VW Touareg TDI, E90 330i, E46 325iT, MINI Cooper S (all retired) |
|
Appreciate
0
|
02-25-2007, 09:43 PM | #32 | |
New Member
5
Rep 17
Posts |
Quote:
Cars, weather you have the money or not, are a waste of money: own or lease. I looked at all my options and concluded i wanted to waste this money over the next 3 years because mainly in terms of buying a home i need a few more years of ladder climbing at work for it to make sense for me from a steady cash flow perspective. Otherwise i would need to try and buy a house with mostly cash. Doing that is is NOT fun in the boston area. the realestate market where i live is risky right now and to do it safe, the barrior to entry is HIGH. If you have 150k cash to put down on a home worth owning in boston, the monthly payments are still higher than average people making under or 50k/ year can afford. This is after you add insurance, energy and taxes which are all rising and will continue to with inflation. Even if i bought a multi unit in boston with over 20% down, i would still be paying out of pocket every month if i had it fully rented out and kept living at home. Something further outside the city is cheaper, but also subject to higher price fluctation sould the supply/demand market rattle, or something go wrong in our bond markets that would impact rates. To me this does not make financial sense. So it's down to me moving up in my job and continue doing what i do on the side for other income until i can set myself up better. While i do this, with the caculations and planning i have done for the next few years out, the money for a BMW every month would not set my back it actually increases my utility. however..... money spent is always money spent. |
|
Appreciate
0
|
02-25-2007, 09:49 PM | #33 |
New Member
5
Rep 17
Posts |
thanks CnoteMD and aspiring335, im going to check out my report and see whats wrong. there must be something out there.
The dealer told me he did now want to say i had the cash because he wants to avoid them asking for a security deposit... i have no idea how the hell they think they can pull this off. If they ask me for a security deposit, i will actually be happy because i then can tell the dealer i want more for my trade in so that it covers the deposit, otherwise just cancel it. They low balled me on my jetta anyway..... |
Appreciate
0
|
02-25-2007, 10:14 PM | #34 | |
E60
39
Rep 587
Posts |
Quote:
yea 2 months... think its cuz i was 22. my fico is 680 though... i plan on moving up the rankings to the 7 series haha. i love them i borrowed one for a month from a friend. 5 series is next...
__________________
|
|
Appreciate
0
|
02-26-2007, 03:03 AM | #36 |
Now With 33% MORE Sarcasm Free!
157
Rep 3,462
Posts |
There's really no way around it. Crappy credit is natures way of telling you to drive a Toyota Corolla for a couple of years. Folks that have lots of cash do not worry about bad credit cause they pay cash, or get a loan from their own banks...
I've yet to run into any one that actually had a decent net worth that also had crappy credit. At least not without a divorce in the mix.
__________________
A BMW is Just a Car, it doesn't make you smart, handsome, clever, better, cool, or wealthy. |
Appreciate
0
|
02-27-2007, 03:36 PM | #37 |
New Member
5
Rep 17
Posts |
guys, they accepted it I sent them some statemts with my assets including enough cash for the lease in a money market. The only requirement they are making me is signing up for automatic payments. .
Picking up tonight |
Appreciate
0
|
02-28-2007, 10:51 AM | #41 |
First Lieutenant
16
Rep 393
Posts
Drives: E86 Z4 M Coupe
Join Date: Oct 2006
Location: Houston, TX
iTrader: (0)
Garage List MK4 VW GTI 1.8 Turbo [0.00]
MK1 VW Rabbit GTI ( ... [0.00] E90 335i sedan [0.00] E86 Z4 M Coupe [7.50] E36 325is (Track Car) [0.00] |
Im glad its work out for you....congrats man
__________________
|
Appreciate
0
|
02-28-2007, 12:45 PM | #42 |
Lieutenant General
4972
Rep 10,200
Posts
Drives: 2024 Golf R / 2022 718 Spyder
Join Date: Sep 2006
Location: Dallas, TX
|
I don't think he wants to buy--but it seems like leasing is not looking good for him....:mad:
__________________
Past rides: 2016 981 BGTS, 2020 MINI JCW, 2017 F80, 2015 981 CS, 2014 F22 235, 2011 E82 135, 2008 E82 135, 2007 E92 328, 2007 E92 328 (My lady drives an OG M2. So does my dad)
|
Appreciate
0
|
Bookmarks |
|
|